CRM and billing vendor Amdocs Ltd is ramping up its financial services business with the release of three customer relationship solution packages for the retail banking sector.
Amdocs Dynamic Pricing and Product Bundling Solution, Amdocs Customer Communications Solution, and Amdocs Mobile and Micro-payments Solution, are designed to address the key issue of customer churn by providing retail banks with software to enable product bundling and pricing, and to streamline customer communications. The ultimate aim is to garner increased customer satisfaction and loyalty while increasing average revenue per customer by raising the number of products taken by each customer.
The Dynamic Pricing and Product Bundling Solution allows banks to integrate similar processes from different lines of business into a single business component operating across the whole company. It could be used to create a catalog containing all of a bank’s products and services. Amdocs Customer Communications is designed to allow banks to aggregate account information and personalize customer communications. One of the potential benefits is a reduction in product and mailing costs. The Amdocs Mobile and Micro-payments Solution provides a secure infrastructure to link a mobile phone network with the banking network to transform the phone into a payment point and personalized banking device.