Established in 1990, SunTec is a global leader in the provision of revenue management, relationship-based pricing and billing. As an enterprise technology company, we work closely with over 130 high-profile companies, mainly banks. Our aim is to help these organizations develop enterprise capabilities so that they can deliver a personalized experience to their customers that enriches and strengthens their relationship with their consumers.
We work with seven of the top 25 banks in the world (by assets), one of the world’s top three travel companies and one of the largest international communication service providers. In the Asian markets we work with more than 50 financial institutions that use our Indirect Taxation solution. Our clients together handle more than three billion transactions every day, and we have offices in the US, the UK, Germany, UAE, Singapore, Canada, Australia and India.
How did you come up with the idea for the company?
When I first started this company, it was to predominately address the technology needs of India’s telecom industry. But as the internet started to make deeper inroads into our lives, SunTec underwent a complete shift growing from being a small telecom startup to a multinational business technology company with customer-centricity at the heart of its ethos. SunTec then entered the financial services market in the year 2000, with a specific focus on banking to provide a value-driven, customer-centric pricing model to help banks transfer trust, convenience and security in a digital setting.
We want banks to evolve with the times and live on just as we humans do. If you look at the physiological process, the way for instance blood flows and is distributed through the entire system is fascinating. Various systems like the cardiovascular system ensure that the human body has good distribution of energy.
Similarly, in an organization the business value must be adequately captured and distributed through the entity. What would happen for instance in an Amazon situation if customers returned their products and the system did not complete the cycle with the manufacturer? There would be complete chaos not to mention financial losses. If you look at a business like this fundamentally there is value creation and value redemption happening seamlessly.
Therefore, at every stage of the process in a company, there must be value exchange to make the process smooth and seamless and the ultimate test of this value is when a customer buys a product or service which is a realization of the true value.
Our vision as a company is to be at the heart of every value exchange that takes place in the digital economy. We want to be facilitators and enablers.
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Tell us about your new Client Advisory Board
Across diverse industries, there is a clear recognition now of the importance of driving customer-centric innovations throughout the value chain. Our vision for the SunTec Client Advisory Board (CAB) is to build a platform for further collaboration among global banking, insurance, telecom and travel industry leaders.
The inaugural board has members from ABSA, Bancolombia, Comcast, Commonwealth Bank of Australia, DBS Bank, First National Bank, Global Business Travel, Goldman Sachs, Kotak Mahindra Bank and Nordea Bank. The Board is scheduled to meet with SunTec twice a year to discuss and develop new technology solutions for the future and help shape what products businesses need to enable further growth and development.
Through this platform, we want to be able to empower each other to stay ahead of the market through a strategic alignment of our respective businesses.
What can we hope to see from SunTec in the future?
Now that we’ve established ourselves in the telecoms, banking and travel industries, SunTec is currently focused on expanding its offerings to other industries as well. This is part of the company’s next phase of growth. We believe that in the fullness of time there will be a convergence of industries because of business opportunity, market dynamics and customer demand and we are best positioned to enable value exchange in this scenario.