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Nomis Big Data analytics and ICON market data will fuel IBERIABANK’s initiatives to improve product and service offerings across a diverse geographical customer base.
San Francisco, CA and Dallas, TX – February 14, 2017 – Nomis Solutions and Icon Advisory announced today that IBERIABANK (Lafayette, LA) is leveraging their joint solution to inform decision making about its fast-growing home equity lending portfolio. IBERIABANK will use Nomis’ Big Data analytics software together with ICON LendersBenchmark data to understand customer trends and preferences across the bank’s multi-state operations. Over the past decade, IBERIABANK has rapidly expanded banking operations from its headquarters in Louisiana to nine additional states.“
IBERIABANK is committed to its local communities by serving the financial needs of individuals, families, and businesses,” says Craig Peak, Director of Consumer Credit at IBERIA. “In order to meet client expectations across multiple states, it’s important for us to maintain a market-centric focus. The alliance between Nomis and ICON supports that focus by using state-by-state pricing decisions in addition to providing regulatory compliance.”
The collaboration between Nomis and Icon Advisory results in rich borrower insights and targeted pricing actions. ICON provides near-real time visibility into transaction-level competitive pricing, volumes, and performance by capturing approximately two-thirds of US home equity transactions and more than half of all US mortgage transactions. By tightly integrating this critical information into Nomis’ next generation platform, leading home equity and mortgage lenders are driving better results through more compelling pricing and offers. “It’s a one-of-a-kind solution,” comments Peak. Banks using Nomis solutions to manage home equity portfolios outperform the market by 23% in volume growth and 18% in risk-adjusted margin.
“We’ve definitely seen an increase in the strategic consumption of market data for home equity and other consumer lending products,” reports Shaun Richardson, SVP at Icon Advisory. “Home values have continued to improve, customers are feeling more confident, and lenders are ready to lend. We see our clients using market data to better understand the dynamics of each local market to more effectively compete and serve the needs of customers by specific segment.”
Nomis offers a suite of solutions that empower banks to deliver compelling pricing and offers that span the home equity customer life cycle, including promotions, originations, retention, and utilization. The solution covers the complete spectrum of your analytical pricing needs including ingesting pricing and competitor data, modeling customer behavior, defining optimal solutions, and pricing on a regular cadence. IBERIABANK will use Nomis Price Optimizer to analyze customer behavior related to home equity lending originations. “The system will allow us to track changes and see the results, so that we can respond to market demands,” adds Peak. “And the references we received from existing customers give us confidence that Nomis will provide the upfront and backend support to help us be successful.”
“The Nomis team is excited to be embarking on the price optimization journey with IBERIABANK and to support Craig and his team in meeting the bank’s goals in an dynamically changing market,” comments Rutger van Faassen, VP of Lending at Nomis. “The unique combination of Nomis’ more than a decade of experience in pricing science and ICON’s leadership in delivering market insights has a proven track record of driving value for our clients.”
About Icon Advisory
ICON is the consumer lending and mortgage industry’s leader for providing near real-time competitive performance analytics for both origination and portfolio activity. ICON operates market consortiums sourced directly from lender origination and servicing platforms. This timely, specific, comprehensive and comparable data enables ICON to deliver truly actionable insights to lenders through its turnkey BI platform. Lenders consume competitive insights specific to their performance across a broad range of core areas including sales, product management, risk, operations, competitive pricing, and portfolio management. To learn more about ICON, please visit http://www.iconadvisory.com.
About Nomis Solutions
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 trillion in banking transactions annually and returns more than $300 million to its customers every year. To learn more about Nomis, please visit http://www.nomissolutions.com.
About IBERIABANK Corporation
IBERIABANK Corporation is a financial holding company with 299 combined offices, including 199 bank branch offices and three loan production offices in Louisiana, Arkansas, Alabama, Tennessee, Texas, Florida, and Georgia, 24 title insurance offices in Arkansas and Louisiana, and mortgage representative offices in 64 locations in 10 states. The Company has eight locations with representatives of IBERIA Wealth Advisors in four states, and one IBERIA Capital Partners L.L.C. office in New Orleans.
About The Author
Jackie is the senior director of product marketing at Nomis.