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.
The bank wanted to increase pricing flexibility to respond to a range of competitive challenges and relationship opportunities.
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.R The bank launched successfully with multiple highly differentiated customer value propositions.
In addition to enhanced pricing agility, flexibility and transparency, the bank has increased Net Interest Income on deposit products by $6 million per year.