Banks today broadly operate in information silos across their LoBs that lead to complex pricing models. As the race to customer centricity gets more competitive, customers are presented with multiple options that they can choose from for their banking needs. Pricing, therefore, becomes a crucial differentiator for banks.
Relationship-based pricing solutions determine the value of a customer’s relationship and helps set personalized price points accordingly while also preventing revenue leakage from a bank’s perspective, making it a win-win situation for banks and customers.
“Relationship-based pricing and revenue management platforms are evolving. This report outlines non-negotiable features of pricing solutions that banks must look for.”
Why is this report a must-read?
The banking sector globally is in a state of transformation that is driven by new technologies, shifting customer expectations, and dynamic competitive and macroeconomic forces. With so much change happening, it is perhaps surprising that banks aren’t paying enough attention to pricing strategies, including how these strategies affect their customer relationships, profitability, and the value they’re delivering.
In this report, discover:
- The drivers affecting bank pricing strategies and how institutions may overlook them
- How you can address pricing challenges
- How to gauge what’s best for your bank