SunTec, Infosys Finacle team up for billing solutions

Thiruvananthapruam, May 29 | Updated: May 30 2007, 05:40am hrs
Two global financial software providers from India are readying to put their business heads together for more business. SunTec Solutions in Kerala has announced strategic partnership plans with Infosys' Finacle.

It is SunTec's TBMS-F product suite that will complement Infosys' universal banking solution Finacle. SunTec's TBMS-F, patronised by European bank giants like ING Bank, HSBC Group, Lloyds TSB, is best described as a relationship-based pricing and centralised billing solutions.

"Pricing decision will be the key shaper of the profit margin of financial institutions in the next decade," says K Nandakumar CEO, SunTec, on the price-differentiation deal that the new tie-up can give to the potential client.

SunTec is a SEI CMM Level 5 company, recently picked up by Deloitte as among Asia Pacific's 500 fastest growing companies.

Finacle and the TBMS-F suite, will work together to give product-centric and relationship-based pricing at an enterprise level, says the release. For banks this would mean rolling out of their customised product bundles and gain greater business agility with customer. Briefly, this could help FIs in retaining customers.

"The alliance would address the need to offer differentiated solutions to diverse customer base," says Merwin Fernandes, Vice-president & Business Head- Finacle.

While Infosys Finacle addresses the core banking, e-banking, treasury, wealth management and CRM requirement of retail, corporate and universal banks, worldwide, SunTec TBMS-F is for measuring and monitoring transaction value and controlling profitability in banking, financial and insurance sector.