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Why Banks are Separating Product Pricing Management from Core Banking Systems

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Introduction Traditional product-centric banking value propositions are at risk of becoming obsolete through a combination of increasing competition, regulatory change and technology advances, which are driving increased customer service expectations. New and changing regulations – EMIR, Frank- Dodd, SEPA, Basel III, to name just a few – are imposing obligations, which means the rules of customer engagement are being changed time and again. All of these factors mean that banks have to shift their focus towards more customer-centric product and pricing propositions in order to better influence revenues and profitability. Against this backdrop, just how easy is it for banks to adapt their core banking systems in order to meet these rapidly shifting conditions and still successfully manage revenues and margins? Traditional core banking systems were designed for an increasingly outdated proposition – one that valued security, reliability and redundancy. Today's dynamically changing environment demands agility, flexibility and speed, and all geared towards developing customer-centric strategies, while still maintaining security and reliability. How can banks meet these modern demands? Consider three options. White Paper: Why Banks Are Separating Product Pricing Management From Core Banking Systems Karthik Vadivel, Consultant, Zafin Des Farrell, Executive Consultant, Zafin Advisory

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