The partnership will reduce legacy constraints and provide large & medium-sized banks with contextual products and relationship-based pricing
London: 29 August 2024 – 10x Banking, the cloud-native core banking platform, has today announced a strategic partnership with SunTec Business Solutions, the world’s leading relationship-based pricing and billing provider, to enable banks to offer personalized and contextual products, services and offers to their customers, across Corporate, SME and Retail Banking.
As customer preferences and demands continue to evolve, the global partnership forms part of 10x and SunTec’s mission to deliver flexible, tailored banking capabilities to large and medium-sized financial institutions and help them strengthen their customer relationships.
The partnership expands the capability of 10x’s newly launched meta core banking platform to address one of the banking industry’s biggest opportunities - personalization. Banks can enhance their relationships and customer satisfaction by contextually tailoring multiple products and services based on customers’ banking activity. By embracing this opportunity, banks can not only strengthen customer loyalty but also react automatically to customer needs with enterprise-grade technologies and integrated data systems.
Through our partnership with SunTec, we’re helping large financial institutions worldwide move beyond the restraints of legacy technology and obtain real value from transformation, not only for the commercial success of the bank but also to ensure customer satisfaction, with truly personalized and contextual products.
Matt Mills CRO at 10x BankingCommenting on the partnership, Matt Mills, Chief Revenue Officer at 10x Banking, said: “Banks are looking for ways to modernize their technology stacks, and provide information that can offer bespoke product solutions across client bases.”
By sitting atop siloed technology stacks and core technology, SunTec’s Product, Offers, and Pricing Platform, SunTec Xelerate, enables communication between systems, using granular data to predict and offer tailored financial products to customers. In doing so, 10x’s banking clients can gain a holistic view of their customer needs and offer hyper-personalized product bundles and offers to drive real value and increase customer acquisition, retention, and loyalty. Together, the 10x banking platform and SunTec Xelerate can automate the whole customer lifecycle, mitigate revenue leakage, control risks, and strengthen the commercial position through cross-selling and upselling.
Together with 10x, we aim to revolutionize the global banking sector, enabling institutions to deliver exceptional customer experience through tailored pricing, products, and offers.
Amit Dua President of SunTecAmit Dua, President of SunTec, said: “We’re excited to bring our proven Product, Pricing, and Proposition solution to the strategic partnership with 10x's enterprise-grade offering. Leveraging our extensive experience of serving over 150 customers across 45 countries as well as 10x’s expertise, we look forward to the transformative impact of this collaboration.”
