As part of our mission, Zafin is transforming the way banks manage products, pricing and billing across the entire client relationship. Our flexible software suite, miRevenue, has been designed at every step with a complete focus on enabling banks to deliver sustainable revenue enhancement to their targeted business needs. miRevenue has been delivering product and pricing innovations for clients since 2005.
The evolving landscape
Today, miRevenue goes beyond relationship banking, which is composed of basic relationship pricing and consolidated billing functionality. miRevenue fulfills the function of a Product and Pricing Lifecycle Management platform, which requires additional functionalities that banks need in the areas of product management, profitability simulation, and offer management and onboarding. As such, miRevenue is the first complete Product and Pricing Lifecycle Management (PPLM) platform, delivering a “start-to-finish” view of the way banks bring products to market quickly and easily with a focus on revenue enhancement.
In practice, PPLM is all about transparency, shedding light on an otherwise opaque process – the entire product and pricing lifecycle. At Zaﬁn, we look at PPLM as a continuous journey, streamlining bank processes from price quotes and contract management to onboarding, implementation and billing.
With PPLM, banks ﬁnally have an enterprise-wide strategic framework they can use to narrow in on the underlying driver of revenue enhancement: happy, proﬁtable customers. PPLM is really about harnessing the power within a bank’s data warehouse and making it usable, reportable and beneﬁcial. To this end, PPLM represents a tangible opportunity for a bank to create a competitive relationship banking advantage.
miRevenue is comprised of six ﬂexible modules, each of which can be deployed independently or work in concert with others. Collectively, miRevenue’s modules represent a holistic product management control panel that integrates seamlessly with core systems and other data feeds to support complete Product and Pricing Lifecycle Management.
miCatalog acts as a central product repository – a “single point of truth” for features, standard pricing, relationship pricing and exception pricing – to support a more holistic, needs-based sales paradigm.
miPricing is a comprehensive relationship based pricing engine. As a ﬂexible, full-service pricing tool for standard and exception-based pricing, miPricing can receive any data input and produce outputs that enable pricing models based on the entire client relationship.
miEarnings delivers “what if?” simulation and reporting capabilities. With miEarnings, Product Managers can proactively test the impact of new product pricing strategies on segment revenues, costs and proﬁtability prior to launch.
miOffering streamlines offer management by providing the ability to create new pricing proposals and offers for clients. With miOffering, Relationship Managers can simulate pricing models and analyze the proﬁtability of new offers prior to extending them to clients.
miLoyalty provides a single platform to enable enterprise-wide loyalty management for banks. Relationship Managers can roll out reward, beneﬁt and loyalty programs, creating compelling offers to attract and retain clients. miLoyalty is used to incentivize desired behaviour and encourage growth in wallet share.
miBilling provides banks with the ability to customize and automate client invoicing and billing. As a comprehensive relationship billing solution for banks, miBilling provides flexibility with respect to billing cycles, presentment, and timing, allowing full customization of billing and invoicing to suit the relationship.