Developing Next-Generation Retail Banking Pricing Strategies
The Evolution of Product to Enterprise Pricing
Abstract
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.
Next-generation retail banking pricing strategies shift pricing and product management away from design and implementation within individual core banking systems toward enterprise services that provide centralized capabilities around the product catalog, loyalty, relationship pricing, product bundling, product development and management, and billing.
This report considers key drivers for shift to enterprise pricing, key requirements and considerations, and provides an overview of the enterprise pricing vendor market landscape.
Benefits of Enterprise Product and Pricing
Related Research
The Digital Value Puzzle: How FIs Struggle to Connect Engagement with Results
June 2023
Naehas: Uniting Product Offer Design and Delivery
June 2023
Retail Banking Core Banking Systems: Mid-Large North American Edition
May 2022
Deposits, Competition, & Digital: Where Big US Banks Are Focused Now
May 2023
UK Large Bank 2023 Technology Priorities: Using Digital to Support Customers in Time of Need
March 2023
Retail Banking Core Banking Systems: International Edition
December 2022
Toward a New Retail Banking Platform Architecture
December 2022
A Primer on Variable Recurring Payments: The Next Big Thing in Open Banking?
December 2022