Brilliance Financial Technology and Bank of New Zealand Partner for Digital Pricing Transformation

AUCKLAND, New Zealand, Aug. 6, 2019 /PRNewswire/ -- Brilliance Financial Technology, a global leader in providing end-to-end digital pricing and intelligence, today announced a deal with Bank of New Zealand (BNZ) to implement Brilliance's industry-leading deal management and relationship pricing solution, DealPoint.

DealPoint will support BNZ's business lending and cross-sell products, as well as BNZ's proprietary pricing models and pricing approvals processes across the bank's Corporate and Institutional Banking and Business Banking divisions.

DealPoint automates and optimizes dynamic pricing and is the only solution tailored to each bank's unique pricing models and processes. It digitizes and streamlines the pricing processes, pre-populating pricing and customer relationship information, and guides relationship managers through deal structuring. The solution applies business intelligence, generating real-time management reporting, analytics, and AI/machine learning, for smarter, faster decision-making.

The solution allows banks to optimally price at the enterprise level across products, regions, and lines of business, tailoring pricing by customer, segment, and industry.

"Streamlining our bank processes and customer experience was our top priority, and given our unique requirements, DealPoint was the right strategic solution for our goals," said Steven Lowther, Manager of Partners Pricing Strategy, BNZ. "The journey to digital transformation is not an easy one, but by choosing an industry-proven pricing solution and an innovative partner such as Brilliance, we set ourselves up for success."

BNZ GM Business Lending, John Janssen, says, "We are delighted to be working with such a globally well-respected organisation to deliver this. The step-change in our digital processes will mean our bankers are better supported to offer bespoke pricing, which will ultimately mean better outcomes for our customers."

"We are thrilled that BNZ chose Brilliance as a trusted partner to modernize their pricing processes. As the leading solution that seamlessly integrates with our client's business, our flexible platform provides relationship and decision-makers with the digital means to manage pricing for their customers in real-time," said Jean-Edouard van Praet, President and CEO of Brilliance Financial Technology. "We look forward to implementing DealPoint across the bank to steer business decisions and drive growth and profitability."

This latest version of DealPoint adds key enhancements to the platform to drive performance in today's market landscape:

• Benchmarking: Compares proposed deals to market prices and recently booked transactions
• Cross Sell Tracking integrates relationship income into decision-making and enables the ability to compare projected versus realized revenue
• Recommendation Engine: This AI-driven feature leverages real-time data to analyze price elasticity and suggests alternate deal structures, fees, and potential cross-sells
• Pricing Insight adds data visualization to drive smarter and faster decisions for relationship managers and business heads
• The standard open API framework makes it possible to integrate DealPoint into key stages of the origination process

About Brilliance Financial Technology
Brilliance Financial Technology is a global leader in providing end-to-end digital pricing and intelligence, enabling the world's leading banks to optimize operations. As the leading provider of risk-based pricing and customer profitability systems, Brilliance enables banks to make smarter decisions, faster.

Brilliance's flexible and scalable solution, DealPoint, is uniquely tailored to each bank's pricing model, and allows for rapid automation of the pricing and approval process. Since 2004, DealPoint has been deployed in over 50 countries across the globe.

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SOURCE Brilliance Financial Technology