Retail banks face an array of pressures around pricing. Competition means banks must create innovative value propositions through bundled capabilities that can be rapidly adapted and flexibly offered with personalized pricing to customers. However, heightened regulatory scrutiny means this pricing must be fair, transparent, well understood, and accurately implemented and billed.

The concept of enterprise product and pricing shifts pricing and product management away from design and implementation within individual core banking systems toward enterprise services. These provide centralized capabilities around the product catalog, loyalty, relationship pricing, product bundling, product development and management, and billing. Importantly, these enterprise services don’t only support internal products and services; they also allow banks to create and manage value propositions that comprise both internal and third party products and services.

Amdocs Product and Pricing Catalog allows institutions to centrally manage and innovate products and deliver personalized customer value propositions. With the broader Amdocs Product and Pricing Suite, banks can also enhance the product ordering experience at start of the customer lifecycle, as well as the customer billing and statement experience in servicing stages.