What is Product and Pricing Lifecycle Management (PPLM)?

Let’s face it. For many banks, the status quo is no longer an option. How do banks take a holistic, customer-centric approach while dealing with a combination of legacy systems, siloed operations and products that are more complex than ever?

Introducing Product and Pricing Lifecycle Management, or PPLM, a methodology for the managed evolution of relationship banking. By shifting from a product-centric approach to a customer-centric approach, PPLM is transforming the way banks manage products, pricing, loyalty and billing.

Customer centricity is the new standard operating procedure for financial services. Can you afford to be left behind?

As a value-added middleware alternative to a core banking system replacement, PPLM represents a holistic approach to creating, simulating, offering and managing products, communicating with customers and incentivizing customer behaviour.

 

Get more from the core

Embarking on core system transformation can be expensive, time-consuming and risky, but customer-centric innovation is possible without replacing the core.

By serving as a middleware layer between back-office systems and customer-facing channels, Product and Pricing Lifecycle Management (PPLM) is a product management control panel, integrating seamlessly with just about any data feed a bank may have in operation.

 

Zafin and PPLM in action:

  • 30 implementations in Retail, Corporate and Wealth Management across more than 40 countries
  • Add up to 10 percent in annual revenue without adding new customers
  • Change existing or launch new products in a matter of weeks, not months
  • Reduce or eliminate ongoing costs associated with annual product reviews and pricing changes
  • 100% project payback in under 12 months is typical

 

Ready for more? 

Learn about the six modules of Zafin’s miRevenue software suite that make Product and Pricing Lifecycle Management a reality.

Browse our library of Resources, including case studies, videos and white papers.

Subscribe to Relationship Banker: Journal of Product and Pricing Lifecycle Management, Zafin’s quarterly publication for the financial services industry, delivering compelling thought leadership, emerging trends and tangible best practices.

Listen to the Relationship Banker Podcast, a series of approachable, bite-sized episodes that you can listen to on your schedule.

 


For more information on how Zafin can help foster happy, profitable customer relationships with complete Product and Pricing Lifecycle Management, please contact us at info@zafin.com.