Banks are shifting from it’s traditional banking business into a fee-based business model – a steady shift towards servitization. The banking industry is now looking for a refined revenue management platform to accelerate the revenue growth. Banks today want to digitalize billing processes, support fee-based models, and shift from discrete product pricing to innovative packaged products & services with personalized relationship-oriented pricing approaches.
Infosys Revenue Management Platform (iRMP) is an out-of-the-box solution that caters to various revenue management needs of banks. It handles various scenarios right from simple pricing and billing models to advanced and innovative models based on customer relationships and behavior. It can also adapt to multi-parameter variations while instituting the right checks and controls to plug revenue leakages.
The platform act as a digital layer on top of the existing core systems. Delivered as an OTT model, it enables banks to compete in the digital market without altering their existing core systems. #iRMPKeepTheCore
Infosys Revenue Management Platform helps banks overcome revenue growth bottlenecks by enriching their traditional fee structures with new innovative, flexible, and versatile rules.
Personalized customer offerings helps in creating new revenue opportunities for banks. The platform shortens realization cycles, plugs revenue leakages, and optimizes existing processes by reducing manual processes, eliminating rework, enabling quick market launches, and increasing IT efficiencies.
The platform helps banks transform existing customer relationships into new business opportunities. It offers new fee-based commercial solutions including digital and payment services with an enterprise customer view as well as cross-sell and up-sell opportunities that enhance customer experience and satisfaction.
Infosys Revenue Management Platform offers full-fledged product lifecycle management from innovation to retirement for all types of banking, non-banking, and benefit products with an emphasis on revenue enhancement. It enables product packaging and bundling and establishes various criteria including eligibility, compatibility, and negotiability.
Infosys Revenue Management Platform helps define and simplify price points with loosely coupled price management processes, controlled price variation capabilities, and highly configurable parameters driven by rules and metadata.
Pricing can be personalized based on customer – Account attributes.
Infosys Revenue Management Platform helps banks grow their business based on customer preferences. It helps create personalized offers with advanced deal management facilities. Relationship-based prices can be applied to individual transactions with centralized price deviation controls and price transparency.
Infosys Revenue Management Platform brings complete pricing coverage to every transaction. It ensures the right prices are used for pricing and billing with features like standard versus applied price variance analysis, price monitoring at various levels (product, package, customer segment, branch, and relationship manager), inputs for annual price review, and trial bill runs.