Brilliance Financial Technology partners with NAB to transform pricing processes

Brilliance Financial Technology’s DealPoint Automated Relationship Pricing Solution to Support National Australia Bank’s Lending Divisions

Brilliance Financial Technology (https://bxfin.com/) has today announced it will implement its industry-leading Deal Management and Relationship Pricing Solution, DealPoint, across two divisions of National Australia Bank (NAB).

DealPoint makes dynamic pricing a reality, and is the only solution tailored to each individual bank’s pricing models and processes.

Brilliance Financial Technology won the NAB contract after an extensive RFP process.

DealPoint will support NAB’s business lending products, proprietary pricing models, and different pricing approvals processes across the bank’s Corporate and Institutional Banking and Business and Private Banking divisions. “We were looking for a globally leading solution to help us optimise our business lending portfolio,” said Nathan Gooley, NAB General Manager, Institutional Business Lending.

“With our size and sophisticated requirements, DealPoint was the right solution to help support our banker and customer experience.”

DealPoint digitises pricing processes, automatically pre-populating pricing and customer relationship information, and guides relationship managers through deal structuring. The solution allows banks to price at the enterprise level across products, regions, and lines of business, tailoring pricing by customer, segment, and industry.

The latest release of DealPoint, including the following features, adds key enhancements to the platform based on the latest industry and technology trends:

— The Recommendation Engine, driven by artificial
intelligence (AI) using real-time data to understand
price elasticity, suggests alternate deal structures,
fees, and potential cross-sells.

— The Benchmarking feature provides transparency on how
a proposed deal compares to market prices and recently
booked transactions.

— New Cross Sell Tracking makes relationship income an
integral part of decision-making.

— Pricing Insight adds data visualisation to drive smarter
and faster decisions for relationship managers, business
heads, and policy makers.

— The new standard open API framework makes it even easier
to integrate DealPoint with other banking systems.

“We have made significant investments in the next generation DealPoint over the past few years, adding new features required in today’s digital banking landscape,” says Jean-Edouard van Praet, President and CEO of Brilliance Financial Technology. “We are delighted that NAB selected Brilliance to transform their end-to-end customer journey.”

Authorised users can view multi-year performance of the proposed deal and its impact on the relationship and portfolio profitability. A pricing approval workflow then orchestrates and fully audits the entire approval process. Once booked, the performance of the deal, including cross-sell promises, are tracked as part of the relationship for future activities.

By providing transparency and focus to its users, DealPoint helps banks originate better deals more efficiently and effectively. The solution generates data throughout the pricing process to allow powerful real-time management reporting, analytics, and AI/Machine Learning for decision-makers.

About Brilliance Financial Technology

Brilliance Financial Technology delivers automated enterprise-level Relationship Pricing and Approval Systems for the world’s leading banks. The flexible and scalable DealPoint platform is tailored to each bank’s pricing model and enables dynamic pricing to drive customer profitability and increased margins. DealPoint’s open API allows for seamless integration into each bank’s unique origination processes, working with both CRM and Underwriting systems, as well as in-house and third-party data and models. Banks using DealPoint report a risk-adjusted ROI of 379%, a 66% increase in deal submission, and an increase of 25% in portfolio management productivity. Since 2004, DealPoint has been deployed in over 50 countries and is used by over 25,000 users.

 

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