Challenge
A Tier 1 North American bank could not price, invoice, and bill customers on a relationship basis. Meaning their customers faced issues in reconciliation and understanding their banking costs caused by the bank’s unique billing system for each underlying product family.
Zafin platform enabled:
- Centralized pricing and billing platform for all products
- One customer, one invoice, one debit, all products, resulting in streamlined reconciliation
- Single source of downstream reporting for operations, regulatory and tax
Resulting in:
- Transformed customer experience
- Digitized setup and maintenance of billing arrangements
- Reduced billing operations, inquiry and write off costs
- Greater visibility of customer and product profitability
Key Metrics
100% digitization of negotiated pricing
100% consistency between customer agreement and billing setup
$Millions in reduced billing operations and write off costs
50% improvement in time to market for new customer arrangement