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Adoption of Nomis pricing technology continues to grow at a rapid pace as banks invested in 17 incremental subscriptions to Nomis pricing technology in 2016, bringing the total number of users to more than 8,000.
San Bruno, CA – January 26, 2017 – Nomis Solutions today announced another year of market-leading growth for the company’s pricing, portfolio management, and offer presentment technology for financial services. The addition of 17 subscriptions from banks in the US, Canada and Asia-Pacific brings the total volume of deposit and lending transactions optimized using Nomis technology to over $1.5 trillion. More than 8,000 bankers are now using Nomis’ pricing technology across mortgages and home equity, consumer lending, credit cards, and deposits portfolios.
Frank Rohde, Nomis Solutions CEO, commented, “Adoption of Nomis pricing technology continues to grow rapidly as banks are investing in building better Big Data-driven capabilities to drive revenue and margin growth and customer engagement. We expect the strategic rationales for investment to continue in 2017 and beyond.”
Some of the trends Rohde sees driving a need for pricing intelligence include:
Rohde continued, “At the end of the day, investing in pricing science and technology is one of the quickest and most impactful ways banking executives can improve returns and growth in their portfolios. Our customers continue to generate 10-20% increases in net interest margins or equivalent market share growth. At the same time, banks, consumers, and regulators are all looking to build a world where financial institutions deliver what their customers value and where every relationship is profitable and fair. Gaining a deeper understanding of customers – across their entire relationship with a bank – is the first step towards that world, and we’re proud that leading banks are selecting Nomis as their partner on that journey.”
“Banks are choosing to partner with Nomis because of our unique strengths in both technology and analytics as well as the consulting experience needed to operationalize pricing science,” notes Rohde. “Our holistic view of the customer and cross-vertical capabilities drive more overall value for our customers who see an average 15x ROI on their Nomis investment.” Approximately three out of four Nomis customers use the Nomis Platform across multiple product lines.
Nomis offers a comprehensive suite of advanced decision-support and front-line pricing solutions for retail bank deposits, mortgage, and lending. Nomis Price Optimizer combines big data analytics and pricing science to help banks evaluate and optimize when and how to price their deposit products. Leading banks connect back-end pricing strategy informed by Price Optimizer to front-line sales enablement using Nomis Deal Manager’s real-time offer intelligence.
Nomis is a fast-growing Fintech software company that combines cutting-edge Silicon Valley approaches to big data, advanced modeling, and deep analytics into the industry-leading price optimization SaaS software platform. We help large and medium-sized retail banks better understand their customers and grow their businesses. We help these banks deliver win-win products and pricing in an environment that is increasingly competitive and highly disruptive. With experience in over 80 implementations, Nomis optimizes over $1.5 trillion in banking transactions annually and returns more than $400 million to its customers every year. To learn more about Nomis, please visit http://www.nomissolutions.com.
About The Author
Jackie is the senior director of product marketing at Nomis.