Price Smart: Coforge's Data-Driven Strategy Unveils Revenue Gains for Leading UK Bank

Challenges.

• Difficulty in analyzing complex market dynamics and competitor landscapes.
• Slow and inefficient pricing processes.
• Hindered speed-to-market for new financial products.
• Risk of jeopardizing product success due to suboptimal pricing.
• Balancing revenue, market share, and competitiveness.

Our Solution.

Coforge developed a data-driven pricing optimization framework that included:

• Competitor Analysis: Ensured competitive pricing strategies.
• Revenue Forecasts: Predicted impact of various pricing scenarios.
• Constraint Management: Incorporated business constraints for feasible pricing.
• Product Goals Alignment: Aligned pricing strategies with overall product launch goals.

Key highlights:

• Streamlined Data Collection: Consolidated key indexes onto a single platform.
• Enhanced Customization: Allowed personalized launch strategies with various pricing options.
• Optimal Price Selection: Guided teams in selecting the best price point meeting all conditions.
• Real-Time Market Insights: Enabled exploration of different pricing scenarios and market share projections.

The Impact.