MetraNet billing enables innovation in banking, relationship pricing and banking operations efficiency.
Billing has never been appropriately rationalized for banking operations mainly because banks have grown their operations around products. As a result, each product silo has built a pricing and billing component into its own unique support system. As such, a large number of billing “departments” tend to be scattered across different product groups and billing at the transaction level is commonplace.
This reality is problematic. It limits and even prevents the bank from realizing customer-centric strategies that should be driven by relationship pricing. It also limits the financial institution from better managing its products across the organization and rationalizing its offers. And most of all, it limits the bank from innovating by obstructing its ability to deliver the business models it needs to attract Share of Wallet and to differentiate itself from its competitors.
Why is this the case? Mainly, because consolidating all of its billing operations, product catalog, and CRM systems would be a major undertaking for any bank to face.
MetraNet for Financial Services delivers a consolidated billing environment without the need to ‘tear and replace’ existing legacy components. It delivers the flexibility to conduct billing operations at the product level or at a consolidated level, in either case with minimal impact to legacy systems.
MetraNet for Financial Services offers all the components that are required in order to implement consolidated statements, product management, account-based relationship pricing and contract management. MetraNet’s architecture and ease of configuration provides a dynamic business modeling product that is geared for high volume transaction pricing and settlement. MetraNet’s flexibility and true Service Oriented Architecture allows the bank to quickly introduce new products and without limitations.
MetraNet for Financial Services allows the user to achieve:
- Increased Share of Wallet through implementing Relationship Pricing
- Cost reductions due to product rationalization across multiple silos and consolidated billing operations
- Revenue growth through the ability to realize innovative business models
- Revenue capture via better control of revenue leakage
- Increased customer satisfaction through providing a platform for relationship pricing and better statement/ bill visibility
- Reduction in Opex due to lower product management and IT-related costs.
- Optimisation of Treasury services via monetization of non STP transaction fees
- Back office efficiency through driving down product maintenance and volume of non STP transactions.