Banking software vendor Temenos has launched Temenos Enterprise Pricing, a new solution for banks to design and price new products and product bundles with their own and third-party products.

The solution can be deployed on Temenos Transact or on any third-party core.

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The company claims that the service is particularly useful for larger banks burdened with legacy systems in modernising their programmes.

The pricing engine also offer hyper-personalisation of products and services and expedites the time to market for all products, boosting profitability of banks, noted the vendor.

As per the Swiss software developer, the new solution can support banks in offering new products and pricing bundles with competitive pricing depending on the customers’ relationships with the bank as well as their behaviours.

Temenos CEO Max Chuard said: “With Temenos Enterprise Pricing, we give larger banks with legacy IT landscapes, burdened by multiple cores and disparate, siloed systems, the opportunity to solve their operational efficiency needs and start their modernisation programme, gaining faster time to value.

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“This solution enhances our ability to meet the needs of larger banks, which represent approximately 60% of the total third-party market spend. Our next-generation SaaS solution enables banks to create new revenue streams by launching new compelling offerings and to apply dynamic pricing strategies to maximise profitability, increasing customer retention and boosting wallet share.”

The vendor also said that its new offering enables banks to have greater control over their fees, centralising product data from various legacy systems and disconnected applications. The solution can bring greater visibility for products, thereby improving profitability of the bank, it said.

Earlier this month, Komerční banka, a Czech Republic bank, selected Temenos Transact for digital transformation of banking and to future-proof its business growth.