Optimising the Price of Consumer Credit
London, UK and San Bruno, CA (PRWEB) August 15, 2007
Nomis Solutions, the leader in Profit-based Pricing for banking and finance, today announced Dr. Robert L. Phillips, founder, chief science officer, and vice president of product management of Nomis Solutions, will be a keynote speaker at the upcoming Credit Scoring and Credit Control Conference hosted by the University of Edinburgh Management School. Taking place August 29-31, 2007, this conference is the leading forum for credit scoring and credit control experts from both industry and academia to present leading-edge results in credit analytics.
Dr. Phillips will deliver a presentation titled, "Optimising the Price of Consumer Credit" on Wednesday, August 29 at 11:00 GMT. He will describe his recent experience in developing and applying an approach for optimizing the price of consumer credit based on estimating customer preferences for various credit products. This advanced approach to pricing enables companies to better target their prices to individual customers in order to increase revenue and profit while managing and controlling risk.
The presentation includes an outline of the underpinning methodologies used to optimize the prices of consumer credit, a comparison of pricing approaches across the various types of credit markets, and two real-world case studies: the personal lending business of a top three bank based in the United Kingdom and a leading auto finance business based in the United States.
"I'm pleased to be speaking at the 10th annual Credit Scoring and Credit Control Conference. Pricing is clearly one of the next frontiers for risk and credit analysts to consider as a way to improve results in their business," said Dr. Phillips. "I'm eager to share how price optimization has evolved over the past decade, how we've successfully customized it for the unique needs of the banking and finance industry, and how it works with credit scoring to deliver real value."
Dr. Phillip's associate, Lawrence Whittle, managing director and vice president, international, was recently published in the August issue of Motor Finance, the UK and Europe's leading motor finance news magazine. His article, "Compliance Does Not have to be Costly: Introduction of Profit-Based Pricing Generates Financial Returns While Ensuring Compliance," explains how a customer-centric approach to pricing can specifically help motor finance companies support their compliance efforts and Treating Customers Fairly (TCF) initiatives.
Additional information about the Credit Scoring and Credit Control Conference and Dr. Phillip's award winning-book, Pricing and Revenue Optimization, can be obtained by visiting Nomis Solutions' website at http://www.nomissolutions.com.
About Nomis Solutions
Nomis Solutions is the recognized leader in Profit-based Pricing for banking and finance. Powered by price optimization technology, Profit-based Pricing is an innovative approach that enables executives to strategically use pricing to achieve improved financial results, gain insight into customer preferences, and support compliance. The award-winning Nomis Price OptimizerTM Suite is a set of business solutions that combines pricing analytics, optimization, and execution into a comprehensive pricing strategy and process.
The suite includes specific solutions for auto finance, home equity lending, personal lending, mortgage, and deposits. Each solution delivers quick time-to-benefit, increases profits and market share by 10-20%, and provides valuable insights about how customer preferences impact product and portfolio performance, within a strong compliance framework. Select customers include AmeriCredit, Ford Motor Credit Company, GE Consumer Finance, HBOS plc, and WaMu. Headquartered in San Bruno, CA, Nomis Solutions has offices in Charlotte, NC, and London, United Kingdom. Visit http://www.nomissolutions.com or contact us at firstname.lastname@example.org or 650-588-9800.
Nomis Solutions and the Nomis Price Optimizer Suite are trademarks or registered trademarks of Nomis Solutions, in the United States and in other countries. Other product and company names herein may be the trademarks of their respective owners.