Getting Tech Right: Selecting the Right Software Products to Fulfil the Digital Demands of Banking How must banks gear up for a digital future? Be an early mover and get the Finextra impact study:
Six-in-10 banks cite real-time account balance information as the most important service that they offer to corporate customers. Find out more on how to reinvent account analysis.
Today's banking landscape is shaped by changing customer demands, high-interest rates, increasing competition, and evolving regulations, all of which pressure profits. Banks must understand each customer’s unique journey to offer personalised services. Clients often struggle with liquidity access, real-time cash position visibility, and cash forecasting. Banks have to address these needs to provide differentiated services, for profitable growth, and leveraging customer relationship data is key to the success of these transformation efforts.
The partnership between SunTec and 10x helps financial institutions build highly personalised banking products quickly due to the flexible and tailored banking capabilities. This enables banks to move beyond restraints of their legacy core banking technology and adopt modern Banking solutions. 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.
More specifically, it enables Banks to:
Design and launch personalized offerings
Streamline deal management for corporate customers
Deploy customer-focused pricing for dynamic customer segments
Ensure faster time to market for new products with 10x’s ProductKit
Rely on industry-leading security, resiliency, scalability and availability, up to 99.999% availability and 100k+ transactions per second (15k+ TPS into a single account)
SunTec and 10x can Transform this Journey for Banks
The collaboration between 10x and SunTec combines the power of 10x’s real-time meta core banking platform with SunTec Xelerate, a highly configurable cloud-native pricing, billing, and revenue management engine. This integration enables seamless communication between systems, leveraging granular data to predict and deliver hyper-personalized financial products. This collaboration allows 10x’s banking clients to gain a holistic view of their customer needs and offer hyper-personalized product bundles to drive real value and increase customer acquisition, retention, and loyalty. Together, 10x banking platform and SunTec Xelerate can automate the entire customer lifecycle, mitigate revenue leakage, control risks, and strengthen the commercial position through cross-selling and upselling. By utilizing this single pre-integrated stack, banks can focus on realizing business outcomes rather than the complexities of managing multiple systems.
The result? Clients benefit from:
Price Transparency
Better Customer Loyalty and Satisfaction
Deeper Relationships
Regulatory Compliance
Plugged Revenue Leakage
By utilizing SunTec and 10x’s Enterprise-grade Technologies, Banks can:
Track transactions in real-time for better cash flow visibility and efficient management of working capital and liquidity.
Boost customer acquisition, retention, and loyalty with hyper-personalized product bundles.
Create a single customer view for personalized, contextual offerings based on journey insights to influence behavior and drive growth.
Expand products and services through partner collaborations, innovative solutions, and new business models, maximizing revenue and delivering true value.
Grow revenue by increasing cross-sell and upsell opportunities and offering innovative products to compete for customer account balances.
Minimize non-lending losses and revenue leakage.
Provide bankers and customers with real-time insights, trends, and pattern analysis.
Enhance relationship value with cross-bundle offers and benefits.
Automate the order-to-bill lifecycle to mitigate revenue and control risks.