Financial Services Billing

Financial Services

“TowerGroup defines enterprise billing as the ability of an FSI to flexibly price its products and services and bill for them across an entire corporate client relationship by means of a single system. The business case for implementing an enterprise billing solution has three dimensions: profit and loss (P&L), improved efficiencies, and data analytics.”

Steve Murphy, Tower Group

One of the major fallouts from the spate of bank failures has been the ongoing legal actions resulting from uncertainty across the payment and securities clearing and settlement systems of many of the failed banks… A living wills regime would require banks to maintain a stronger series of controls, and much greater transparency, across their clearing and settlement systems, as well as the ability to potentially "unplug" a bank's clearing and settlement systems from the rest of the bank, such that it might be able to operate separately from the rest of the business at a time of business crisis. Read more about this new regulatory concept in this downloadable Gartner report. Download

MetraNet billing enables innovation in banking, relationship pricing and banking operations efficiency.

Billing has never been appropriately rationalized for banking operations mainly because banks have grown their operations around products. As a result, each product silo has built a pricing and billing component into its own unique support system. As such, a large number of billing “departments” tend to be scattered across different product groups and billing at the transaction level is commonplace.

This reality is problematic. It limits and even prevents the bank from realizing customer-centric strategies that should be driven by relationship pricing. It also limits the financial institution from better managing its products across the organization and rationalizing its offers. And most of all, it limits the bank from innovating by obstructing its ability to deliver the business models it needs to attract Share of Wallet and to differentiate itself from its competitors.

Why is this the case? Mainly, because consolidating all of its billing operations, product catalog, and CRM systems would be a major undertaking for any bank to face.

MetraNet for Financial Services delivers a consolidated billing environment without the need to ‘tear and replace’ existing legacy components. It delivers the flexibility to conduct billing operations at the product level or at a consolidated level, in either case with minimal impact to legacy systems.

MetraNet for Financial Services offers all the components that are required in order to implement consolidated statements, product management, account-based relationship pricing and contract management. MetraNet’s architecture and ease of configuration provides a dynamic business modeling product that is geared for high volume transaction pricing and settlement. MetraNet’s flexibility and true Service Oriented Architecture allows the bank to quickly introduce new products and without limitations.

MetraNet for Financial Services allows the user to achieve:

Increased Share of Wallet through implementing Relationship Pricing
Cost reductions due to product rationalization across multiple silos and consolidated billing operations
Revenue growth through the ability to realize innovative business models
Revenue capture via better control of revenue leakage
Increased customer satisfaction through providing a platform for relationship pricing and better statement/ bill visibility
Reduction in Opex due to lower product management and IT-related costs.
Optimisation of Treasury services via monetization of non STP transaction fees
Back office efficiency through driving down product maintenance and volume of non STP transactions.