SunTec Banking-as-a-Service Solution

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To meet the challenges of increasing competition, stringent regulations, and other macro-economic factors impacting the sector, banks must transform to put the customer at the very core of everything. At the same time, banks must serve larger customer bases at lower costs to open new revenue streams and increase consumption of banking services through non-banking channels.

As customer-centric strategies rule the roost, the business of banking is moving out of the exclusive realm of banks and into a comprehensive ecosystem designed to meet customer requirements and help banks grow revenues. Technology, of course, is the key driver of such integrated banking ecosystems and plays a critical role in enabling providers, enablers, and distributors of new banking models.

Why Banking-as-a-Service?

Banking-as-a-Service (BaaS) helps bring personalized, customer-centric offerings to market faster. Banks can expand their footprint and connect with new demographics to solve broader lifecycle needs and evolve into the ‘everyday bank and customer owner’ by collaborating with a host of partners. BaaS can enhance customer loyalty and create new revenue streams with a robust ecosystem management and monetization platform. The model allows banks to focus on their strengths and minimize gaps in customer satisfaction for future growth.

As BaaS matures and evolves further, there is a need for robust technology platforms that can integrate digital banking ecosystems and work with:

Providers: who give access to core elements of the banking product and operations stack
Enablers: who unify the disparate elements into usable solutions
Distributors: who take the solution to the customers via proprietary customer channels

How Does SunTec Enable Banking-as-a-Service?

Legacy banking cores cannot scale up to deliver the agility and compute power required to operate BaaS models. An agile middle-layer solution that can sit over the core is the answer for banks intending to deploy BaaS strategies. SunTec Xelerate is an enterprise-wide, agile, scalable and secure digital layer which integrates seamlessly with core systems, consolidating customer and product data for co-innovation. Its API-based infrastructure can handle every level in the growing spectrum of Business Model complexity.

SunTec Xelerate enables banks to explore BaaS models by providing a single unified data store and a single store of value. It breaks down silos to connect disparate systems and deliver real-time insights that facilitate better decision-making. It allows banks to improve bundling strategies as well as facilitates bundling, unbundling, and re-bundling of a full ecosystem of products. With SunTec, banks can deliver a hyper-personalized banking experience with a focus on customer acquisition and interaction. Get the flexibility needed to customize the customer experience by removing silos. Further, as the lines between B2C and B2B banking blur, SunTec Xelerate can help manage multiple aspects of high-impact partner ecosystems seamlessly.

Key Capabilities

SunTec Xelerate seamlessly manages foundational factors for BaaS Models:

1. Manage

Pre-defined product packages and offers for customers
Price governance across the marketplace using SLAs
End-to-end partner management
Partner contracts, with revenue-sharing computation and settlement/li>
Innovation with disruptive pricing models

2. Monetize

Leverage multiple monetization models:

Freemium
Pay as you go
Slab / tier-based
Fixed quota
Ecosystem model
Subscription model
Factors of medium, date/time, channel, payload etc.

3. Monitor

Customer and partner consumption patterns – volume, value, channel, partner, committed products
On-us and Off-us tracking
Revenue leakage and non-compliance of receivables from third-party providers (TPPs)
End-to-end invoicing and settlement process