The partnership will reduce legacy constraints and provide large & medium-sized banks with contextual products and relationship-based pricing
London: 29 August 2024 – 10x Banking, the cloud-native core banking platform, has today announced a strategic partnership with SunTec Business Solutions, the world’s leading relationship-based pricing and billing provider, to enable banks to offer personalized and contextual products, services and offers to their customers, across Corporate, SME and Retail Banking.
As customer preferences and demands continue to evolve, the global partnership forms part of 10x and SunTec’s mission to deliver flexible, tailored banking capabilities to large and medium-sized financial institutions and help them strengthen their customer relationships.
The partnership expands the capability of 10x’s newly launched meta core banking platform to address one of the banking industry’s biggest opportunities – personalization. Banks can enhance their relationships and customer satisfaction by contextually tailoring multiple products and services based on customers’ banking activity. By embracing this opportunity, banks can not only strengthen customer loyalty but also react automatically to customer needs with enterprise-grade technologies and integrated data systems.
Commenting on the partnership, Matt Mills, Chief Revenue Officer at 10x Banking, said: “Banks are looking for ways to modernize their technology stacks, and provide information that can offer bespoke product solutions across client bases. Through our partnership with SunTec, we’re helping large financial institutions worldwide move beyond the restraints of legacy technology and obtain real value from transformation, not only for the commercial success of the bank but also to ensure customer satisfaction, with truly personalized and contextual products.”
By sitting atop siloed technology stacks and core technology, SunTec’s Product, Offers, and Pricing Platform, SunTec Xelerate, enables communication between systems, using granular data to predict and offer tailored financial products to customers. In doing so, 10x’s banking clients can gain a holistic view of their customer needs and offer hyper-personalized product bundles and offers to drive real value and increase customer acquisition, retention, and loyalty. Together, the 10x banking platform and SunTec Xelerate can automate the whole customer lifecycle, mitigate revenue leakage, control risks, and strengthen the commercial position through cross-selling and upselling.
Amit Dua, President of SunTec, said: “We’re excited to bring our proven Product, Pricing, and Proposition solution to the strategic partnership with 10x’s enterprise-grade offering. Together with 10x, we aim to revolutionize the global banking sector, enabling institutions to deliver exceptional customer experience through tailored pricing, products, and offers. Leveraging our extensive experience of serving over 150 customers across 45 countries as well as 10x’s expertise, we look forward to the transformative impact of this collaboration.”
About 10x Banking: https://10xbanking.com
10x Banking is a cloud-native core banking platform for financial institutions and their partners. Founded by former banking executives and built by technologists, the 10x Banking platform empowers its customers with best-in-class security, scalability and speed.
Proven across transformational deployments including Chase Bank, Old Mutual and Westpac, 10x Banking offers banks the fastest, most cost-effective and derisked path to full cloud-native transformation through its unique ‘meta core’ approach. Its scalable, resilient, and flexible technology is built to empower financial institutions to better serve their customers and communities. 10x Banking is a B-Corp certified business with offices in London, UK and Sydney, Australia and is funded by a portfolio of world-class investors including BlackRock and J.P. Morgan.
About SunTec:
SunTec is the world’s leading pricing and billing company that creates value for enterprises through its Cloud-based products. More than 150 clients in 45+ countries rely on SunTec to provide hyper-personalized products, offers, pricing, loyalty programs, tax compliance, and billing for over 400 million end-customers. SunTec products are based on its cloud-native and cloud-agnostic, API first, micro-services-based proprietary platform, SunTec Xelerate and are delivered on premise, on private cloud, and as SaaS. SunTec has global operations including the USA, UK, Germany, UAE, Singapore, Canada, Australia, and India.
For more information, please visit us at www.suntecgroup.com or email us at [email protected]
