Nomis Solutions Hosts 2nd Annual European Profit-Based Pricing Forum
Industry Leaders Gather to Discuss the Financial Benefits, Customer and Product Insights, and Compliance Support Provided by Pricing Optimization Solutions
London, UK and San Bruno, CA (PRWEB) July 24, 2007 -- Nomis Solutions, the leader in Profit-based Pricing for banking and finance, today announced the 2nd Annual Profit-Based Pricing Forum. Scheduled for September 26-27 at the prestigious Macdonald Frimley Hall Hotel & Spa in Camberley, Surrey, United Kingdom, the invitation-only event, hosted by Nomis Solutions, will assemble the top pricing, product management, and profitability executives from the world's leading banks and finance companies. The goal of the two-day event is to showcase companies who have successfully adopted a Profit-based Pricing approach, share results, insights and best practices, and discuss the future of pricing optimization solutions in financial services.
The esteemed line-up of speakers features economic experts, financial services visionaries, banking strategists, compliance advisors, and pricing optimization pioneers. One of the distinguished speakers is David Smith, economics editor of The Sunday Times. On the first day of the forum, Smith will present, Golden Age or Bumpy Road? The Economic Outlook and Its Impact on Retail Banking.
Industry pioneer and author of the award-winning book, Pricing and Revenue Optimization, Dr. Robert L. Phillips, will kick off the Forum with a look into the future of retail banking and how the use of customer data will be the key driver of decision-making. Ralph Silva, senior analyst, European Banking & Payments at the TowerGroup, will deliver a keynote presentation on the second day of the Forum, entitled, Relationship-based Pricing: Time to Get Started.
"Most banks have invested heavily in the technology needed to collect and store vast amounts of data about their most prized assets: their customers. However, many have not been able to effectively leverage that information to inform future decisions and improve performance and their relationships with their customers," said Silva. "In their effort to grow organically, some innovative banks have recently adopted price optimization solutions to improve financial performance through a better understanding of how customers value their products. This approach is an excellent first step towards enabling the Holy Grail in banking, which is Relationship-based Pricing."
Other highlights of the Forum include presentations from: Wachovia's Senior Vice President, Strategic Pricing, Lars Tonnesen, who will present, A Journey to Price Optimization: The Wachovia Experience; and the Former Director General of FLA (Finance & Leasing Association), Martin Hall, who will present: How to Achieve Profitability While Supporting Compliance: The Ongoing Regulatory Challenges of Operating a Consumer Lending Business.
BenchMark Consulting International's recent survey results reveal that 86% of the banks in the United Kingdom plan to improve pricing practices in the coming year. The Profit-Based Pricing Forum provides an excellent opportunity to learn from those who are actively involved in Profit-Based Pricing and network and exchange ideas with forward-thinking industry executives. Last year's attendees included executives from Abbey, Lloyds TSB, ABN Amro, DnB NOR, Bank of America, Toyota Financial Services, GE Money, Bank of Scotland, HBOS, Barclays Bank, and Standard Chartered.
"I'm happy to say that Profit-based Pricing has shifted from an intriguing new topic of conversation to an important revenue-generating initiative being quickly adopted by major banks and finance company executives who want to make an impact," said Lawrence Whittle, Nomis Solutions' Managing Director and Vice President, International at Nomis Solutions, who will also be the Master of Ceremonies. "We plan to use this Forum to share best practices around what banking and finance executives need to know and do to get started in their various lending and deposits business lines such as mortgage, personal lending and motor finance."
Powered by price optimization technology, Profit-based Pricing is an innovative approach that enables executives to strategically use pricing to increase profits and market share. The award-winning Nomis Price OptimizerTM is a business solution that combines pricing analytics, optimization, and execution into a comprehensive pricing strategy and process. The Nomis Price Optimizer has been successfully implemented by leading banks and finance companies and is generating significant financial improvements. For example, in one instance, Nomis Price Optimizer provided a 15% increase in profits and 13% increase in market share, and a 22% increase in market share, and 4% increase in profits in another case.
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 increase profits and market share. The award-winning Nomis Price Optimizer is a suite of business solutions that combine pricing analytics, optimization, and execution into a comprehensive pricing strategy and process.
The suite includes specific solutions for auto finance, mortgage, home equity lending, personal lending, and deposits. Each solution delivers benefits within 12 weeks, increases profits by 10-20%, and provides valuable insights about customers and portfolio performance within a strong compliance framework. Select customers include AmeriCredit, Ford Motor Credit, GE Consumer Finance, HBoS, and WaMu. Headquartered in San Bruno, CA, Nomis Solutions has offices in Charlotte, NC, and London, United Kingdom. Visit www.nomissolutions.com or contact us via e-mail or +44 1530 812428.
Nomis Solutions and 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.
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