Technology

Increase Efficiency

Leading financial institutions across 40+ countries rely on Zafin’s cloud-native enterprise-wide platform to reduce the time and cost associated with bringing new product, pricing and offer strategies to market. The path to implementation for a Zafin solution is fully operationalized and highly predictable, with most phase one use-cases up and running in less than six months.

Customer Case Studies

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

Increase Pricing Agility to Address Competitive Challenges and Relationship Opportunities

Tier-1 bank uses Zafin’s platform to automate and differentiate rate execution across geographies and segments.

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Challenge

With inflexible legacy systems, this Tier-1 bank priced deposits using a one-size fits all approach. This resulted in revenue leakage and a poor customer experience.

Objective

The bank wanted to increase pricing flexibility to respond to a range of competitive challenges and relationship opportunities.

Solution

The bank implemented Zafin’s Rates & Fees to create a centralized automated framework for pricing that enables the bank to offer differentiated rate plans across geographies and segments.

Result

In addition to enhanced pricing agility, flexibility and transparency, the bank has increased Net Interest Income on deposit products by $6 million per year.

Unify Product Information Management for Simplicity and Agility

Tier-1 bank centralizes hundreds of retail products to reduce costs, increase speed and better serve customers.

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Challenge

A Tier-1 bank’s siloed operations, commoditized products, and product-centric mindset were negatively impacting the customer journey ‒ from experience, to acquisition to development.

Objective

The bank’s objective was to be a strong, innovative and customer-oriented bank.

Solution

The bank used Zafin’s technology to support a new product management framework and enable key capabilities including dynamic pricing, relationship pricing, smart offers and bank-wide rewards.

Result

With Zafin’s platform, the bank has centralized over 385 retail banking products, dramatically reduced costs associated with product launches and rate changes, accelerated speed to market, and increased share of wallet among target customers.

Reduce Time-to-Market to Drive Growth and Efficiency

Regional bank uses Zafin’s platform enterprise-wide to reduce time to market by 40%.

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Challenge

Due to its legacy core infrastructure, this regional bank had issues managing its products and pricing.

Objective

The bank was looking to accelerate time-to-market for new products and changes to existing products, including deposits, loans and cards.

Solution

Spanning multiple phases, the bank externalized its products and pricing from its Hogan core to Zafin’s platform. The bank plans to extend Zafin’s platform across the enterprise to drive revenue growth and operational efficiency.

Result

With a fully-implemented, enterprise-wide central product repository, the bank is expected to save hundreds of millions in annual costs, according to bank estimates.

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.

Overcome System Limitations to Charge Fees

Charge fees as disclosed and in accordance with contractual commitments.

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Challenge

For many banks, legacy systems inhibit their ability to charge fees, even though those fees have been properly disclosed and communicated.

Solution

Charge fees as disclosed and in accordance with contractual commitments.

How It Works

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

Automate Offer Execution

Automate offer execution from suitability and eligibility screening through rewards calculation and payout.

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Challenge

or many banks, execution of offers designed to drive acquisition and customer development requires substantial manual intervention.

Solution

Automate offer execution from suitability and eligibility screening through rewards calculation and payout.

How It Works

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

Reduce Costs and Time When Launching New Product Variants

Launch product variants in weeks or even days with no IT resources, responding quickly and efficiently to customer needs and market opportunities.

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Challenge

New products are an essential component of a bank’s go-to-market strategy for serving a segment or achieving a business objective. Unfortunately, for many banks, bringing a product variant to market can cost hundreds of thousands or even millions of dollars, and take six months or more. Such costs and timelines are out of step with rapidly evolving customer expectations and the overall the pace of change in the marketplace.

Solution

Launch product variants in weeks or even days with no IT resources, responding quickly and efficiently to customer needs and market opportunities.

How It Works

By externalizing product information from legacy core systems to Zafin's platform, banks enable business users to configure and launch products themselves. This eliminates the need for the costly IT work within complex legacy core banking systems.

Related Resources

On-demand webinar

June 2020

How Banks Can Respond Strategically to Ultra-Low Rates

Wei Ke, bank pricing strategist and Managing Partner with Simon-Kucher & Partners, joins Thomas Schickler, Zafin's Chief Operating Officer and former banking executive, to discuss banks' response to the unprecedented market conditions, particularly in North America.

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Video

May 2020

Reduce Cost and Time to Launch for New Product Variants

For some traditional banks, it can cost hundreds of thousands or even millions of dollars, and take up to six months, just to bring a product variant to market. Zafin's cloud-based, enterprise-wide platform significantly reduces the cost and time to market for launching product variants.

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