How Financial Institutions can utilize Deal Pricing to better handle pricing of fees

Recent moves by central banks to reduce interest rates, in some cases to near zero, has increased focus on better management of fee income. While integrated deal pricing and billing revenue management models have been gaining ground the past few years as a result of banks and financial institutions reducing conduct risk through pricing transparency, the focus on deal pricing solutions has increased sharply over the past quarter.

Another change is the acceleration to digital channels as a result of both customers and staff working from home. Sales and product managers need to understand how this shift impacts their portfolios and be ready to adjust pricing depending on customer demands.

The probability of successfully navigating these changes is greatly enhanced by deploying a scalable and robust application that uses data, context, and relationships to handle deal pricing independently or in conjunction with the ability to price, bill, and collect (referred to as “billing”) across multiple products and service lines.

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