Delight your members with personalized products and packages they will love!

Zafin’s product and pricing solution will help grow your credit union.

Take a look at what our solution can do for you!

 

 

Customer Case Studies

Don’t take our word for it. Hear what customers have to say about how Zafin has transformed their business.

Innovation

Create Innovative Packages to Deliver on Relationship Banking Positioning

Regional bank uses Zafin to deliver relationship benefits to key segments, driving balances, usage, cross-sell and customer satisfaction.

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Challenge

Bank of the West was proud of its position as a customer-centric and relationship-focused bank. However, the bank faced a number of challenges delivering on that promise.

Objective

To differentiate its value proposition from bigger more impersonal banks, Bank of the West sought a technology solution to execute innovative packages and relationship pricing.

Solution

Bank of the West used Zafin to deploy relationship packages for SMEs and create a program that rewarded and retained affluent customers with high deposit balances.

Result

The bank experienced a 25 percent increase in deposit balances, 36 percent increase in product usage, 600 percent lift in cross-sell metrics, plus other benefits.

Customer Experience

Enable Market-Leading Customer Experiences

Tier-1 bank delivers personalization, proactive advice and end-to-end automation.

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Challenge

A Tier-1 bank could not compete with digital banks, fintechs and other non-banks, who were wooing away customers with new products, offers and experiences. The bank’s legacy core limited its range of products and experiences.

Objective

The bank embarked on a multi-year strategic transformation focused on creating market-leading customer experience and digital services as a means to compete and win in the market.

Solution

Leveraging Zafin’s platform, specifically Product Master, Rates & Fees and Offers & Rewards, as part of a cloud technology stack, the bank delivers digitally-enabled customer personalization, proactive advice and end-to-end automation.

Result

Driving major operational efficiencies, Zafin’s platform helped the bank rationalize 300 legacy products to less than 10, and 127 legacy lending structures to less than 10.

Personalization

Deliver Personalization at Scale

Tier-1 bank centralizes product data to create consistency and power personalization.

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Challenge

A Tier-1 bank could not consistently deepen relationships with customers due to inconsistencies in its product and pricing practices across the continent.

Objective

Focused on maintaining its market-leading position in digital banking, the bank decided to consolidate product and pricing platforms as a means to standardize product and pricing practices enterprise-wide and deliver personalized products and services to its customers.

Solution

In a two-phased approach, the bank leveraged Zafin’s Product Master to centralize product data from multiple legacy systems and deployed Zafin’s Rates & Fees to enable relationship pricing for its customers.

Result

The bank now manages 30+ products in a central product repository, receives 1+ million API calls per day, and expects to generate EUR 10 million in incremental annual revenue from enhanced pricing strategies and governance related to a single line of business -- mortgages.

What's Possible

Respond to customer needs and competitive challenges at speed with products, prices and offers designed to serve existing customers, attract new ones and build your business. Consider the possibilities.

Dynamically Serve Products, Packages, Offers and Pricing in Response to Customer Characteristics

Design and execute products, packages, pricing and offers in response to key customer characteristics including preferences, behaviors, products, tenure, demographics and more.

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Challenge

Traditional banks typically offer one-size-fits-all pricing which is the same for every customer. Meanwhile, customer expectations are defined by the experiences enabled by companies like Amazon and Netflix where products, pricing and offers are defined and served to respond to key customer characteristics including stated interests and needs, past purchasing behavior, segmentation, demographics and more.

Solution

Design and execute products, packages, pricing and offers in response to key customer characteristics including preferences, behaviors, products, tenure, demographics and more.

How It Works

Use Zafin’s product and pricing platform to create and execute highly personalized product and pricing strategies designed to meet the needs and expectations of targeted micro segments -- down to a segment of one. Products, packages, pricing and offers can vary based on a wide range of customer relationship and behavioral attributes, including segments, transactions, balances, products, channels, usage patterns and more.

Create Value-Added Bundles and Packages

Design and execute value-added packages to motivate key customer behaviors.

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Challenge

Traditional banks typically offer one-size-fits-all pricing tied to specific products, which fails to take into consideration what customers actually want and need, as well as the current and potential value of a customer’s relationship.

Solution

Design and execute value-added packages to motivate key customer behaviors.

How It Works

Use Zafin’s product and pricing platform to create offers, packages and bundles to meet the needs and expectations of targeted micro segments and motivate desired banking behaviors.

Create Innovative Offers and Rewards Programs

Create and automatically execute innovative offer and reward programs that align desired behaviors with attractive incentives.

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Challenge

Banks struggle to execute comprehensive, relevant and motivating reward programs that align and advance their business objectives.

Solution

Create and automatically execute innovative offer and reward programs that align desired behaviors with attractive incentives.

How It Works

Zafin’s platform monitors and tracks customer behaviors, including transactions, balances, product holdings and more, against terms and conditions associated with offers and rewards programs. Based on pre-defined business rules, the platform executes bonuses, fee adjustments and waivers, loyalty points and miles, and merchandise rewards automatically, while creating a comprehensive accurate data trail for audit and regulatory purposes.

Related Resources

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