VakifBank‚ Turkey’s Leading Bank, Deploys SunTec’s Dynamic Pricing Solution
Thiruvananthapuram, 15th March 2013 :VakifBank‚ one of the largest banks in
Turkey, today announced that it has awarded Pricing and Billing technology
solution deployment contract to SunTec‚ a global provider of Relationship-based
Pricing and Enterprise Billing solutions.
Under the terms of the contract‚ SunTec’s solution will enable VakifBank to implement ‘a Dynamic Pricing System’ to support the bank’s Innovative Transformation Core Program. SunTec’s solution will ensure the flexibility in pricing operations across multiple product lines viz., current & deposit accounts, loans and investments. The solution will be implemented by SunTec & its partner Segmentist and enable the bank to shrink the time-to-market for launching innovative products and services to its retail and Corporate Customers.
"SunTec’s solution will deliver an innovative invoicing experience for VakifBank‚ as the bank would be able to offer flexible and usage based pricing schemes for its retail and corporate customers and enable the bank to launch innovative products in a compressed time frame. The solution will enhancethe business agility for the bank in line with its recent core banking transition" Mr. Nanda Kumar‚ President and CEO of SunTec Business Solutions‚said.
"SunTec is a strategic partner in Vakifbank's Innovation Transformation (VIT) program. One of the key objectives of the program is to offer dynamic pricing to all our loyal Customers. SunTec’s business solution will be the core of our enterprise architecture to ensure all dynamic pricing and billing requirement of the bank" Ali-Engin Eroglu, CIO of VakifBank said.
SunTec is the world’s leading provider of Customer Relationship and Revenue Management solutions‚ enabling enterprises across the globe to drive their revenue management and business assurance objectives through award winning products and an experienced team of value driven professionals.
SunTec’s proven modular scalable technology platform‚ delivers flexible solutions to combine capabilities for real-time analytics along with holistic customer life cycle value measurement.
For over two decades‚ SunTec has successfully implemented their innovative product suite in more than 50 countries‚ enabling Financial Services Firms and Communication Service Providers to deliver a proactively managed experience to millions of customers every day.
Recipient of international awards like Red Herring Global 100 for innovation and Deloitte Technology Fastest 50 for accelerated growth‚ SunTec has a global presence operating in North America‚ Europe‚ Africa‚ Middle East and Asia Pacific.
VakifBank is the 6th largest bank in Turkey and 3rd largest state-owned bank. With EUR 25 billion asset size‚ it enjoys a market share of 8% in Turkey. VakifBank operates more than 600 branches domestically‚ for offering retail and corporate banking. VakifBank has two international offices located in New York and Bahrain and branches in Vienna‚ Cologne and Frankfurt.