Nomis Solutions Accelerates Development of Pricing Optimization Technology
Expanded Product Development Team Enables Company to Further Enhance Solutions and Expedite Release Cycles
San Bruno, CA (PRWEB) September 19, 2007 -- Nomis Solutions, the leader in Profit-based Pricing for banking and finance, today announced the expansion of its product development team to accelerate the advancement of Nomis Solutions' award-winning Nomis Price OptimizerTM Suite of solutions. The company has opened an office in Pune, India to tap into a pool of experienced developers and satisfy the evolving needs of its growing customer base. This initiative supports Nomis Solutions' strategic plan to use its latest round of funding to further invest in enhancing existing solutions and developing new ones based on the evolving needs of its customers.
Nomis Solutions, the leader in Profit-based Pricing for banking and finance
Within the past 12 months, lenders in the area of auto finance, home equity, and personal lines and loans have implemented the Nomis Price Optimizer, enabling a more advanced, strategic and efficient approach to pricing, which delivers 10-15% increases in profits and market share. The Nomis Price Optimizer also provides valuable insights into how customer preferences impact product and portfolio performance and enables pricing decisions within a strong compliance framework. The latest version of the solution offers three significant new features, including The Efficient Frontier, enhanced reporting capabilities, and the ability to quantify the benefits of further refining segments. To learn more, please see the announcement: Nomis Solutions Enables Banks and Finance Companies to Evolve towards More Targeted Customer-Centric Pricing.
"We've significantly increased the size of our product development team to help us continue to drive the advancement of our financial services industry-specific and best-in-class solutions," said
Bharath Kumar, vice president of product development at Nomis Solutions. "This will enable us to accelerate the release cycle of our products and deliver new and industry-relevant functionality to our customers on a more frequent basis."
Nomis Solutions has partnered with Persistent Systems, one of the leading companies in outsourced software product development, to manage the day-to-day operations of the development team in India. Persistent Systems' product development and QA skills, and its efficient and effective collaboration process that has been developed by working extensively with solutions companies based in the United States, were the two key reasons why Nomis Solutions chose to work with the company.
"We are excited to be involved in the development of Nomis Solutions' cutting-edge technology and to help maintain its leadership position in the industry," said Dr. Anand Deshpande, chairman and managing director, Persistent Systems. "Nomis Solutions has selected an excellent location for its expanded development team. Pune is one of the fastest growing cities in India for information technology and we've been able to attract a pool of talent to work on the Nomis Price Optimizer."
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 www.nomissolutions.com or contact us at info@nomissolutions.com or 650-588-9800.
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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