Asseco PST implements Operation Pricing solution at BISTP
The International Bank of São Tomé and Príncipe (BISTP) was the first Asseco PST client to implement the Banka Operation Pricing Solution. The solution is based on the collection of expenses and commissions, according to different bank account events or operations, in a fully automated process.
The solution allows collecting commissions with more flexible rules that meet the client's profile, market practices, and which can ensure and enhance principles of financial inclusion, strengthen customer relations, and increase commissions.
In an increasingly competitive context and thanks to its flexibility, this solution also allows financial institutions to offer prices adjusted to their customers' needs, making them strengthen their relationship with the bank and realise the benefits of it. A practical example is the collection of a commission or expense at the end of the month in which, hypothetically speaking, there would be an exemption from charges for the first N transfers made by the customers; in this case, the solution makes this analysis and decision in an automated way.
As stated by Nuno Fernandes, Head of Banking Consulting at Asseco PST, 'the reduction in profitability has become more pronounced in recent years, and is now a global trend in the banking sector. The implementation of a pricing optimisation allows flexible management according to the profile of the bank's customers, as well as promoting an increase in results'.
This solution consists of a tool to increase the commissions charged by the bank, with a relevant impact on results. Here are various examples of commissions and expenses that the bank is now able to implement in a fully automated way: e.g account maintenance expenses, expenses on inactive accounts, commissions on account overdrafts due to the posting of cheques or other events, etc.
By implementing this solution together with the Banka Central de Cobranças ('Collection Central') solution, which allows prioritising collections, automatically monitoring account balances, and charging partial amounts at any time, we have, in our opinion, two good tools for the bank to optimise its pricing and collection efficiency.