Nomis Posts Profit for Q2 2009

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New customers in lending and deposits, disciplined cost management, and continued investment from existing customers drive results

We are pleased with our performance in the last quarter despite the significant challenges facing the banking sector

Nomis Solutions, the leading provider of Pricing and Profitability Management Solutions for financial services companies, today announced a profitable second quarter 2009. Despite challenging economic conditions, the company posted strong revenue and record profits for the period. Nomis' results were driven by the addition of new customers in deposits and lending pricing, growing usage by existing customers, and prudent rescaling of the expense base of the company. Highlights for the second quarter of 2009 include:

  •     Addition of our first South African bank customer for deposit pricing
  •     Addition of our third Canadian bank customer for loan pricing
  •     Addition of our fourth UK customer in personal loans pricing
  •     Introduction of a Software-as-a-Service subscription model for the Nomis Price Optimizer
  •     Hiring of Paul Whitlock, former head of savings for HSBC and Bradford & Bingley, as deposits lead for Europe
  •     Appointment of Brian Buckingham, former pricing manager for Chase deposits, as deposits lead for the US
  •     Appointment of Nick Young, former principal of Perspecta LLC, as mortgage lead for Nomis
  •     Receipt of an FDIC fellowship and research grant by Dr. Robert Phillips and Dr. Robin Raffard of Nomis
  •     Filing of additional patents including self-learning Bayesian modeling methodology

"We are pleased with our performance in the last quarter despite the significant challenges facing the banking sector," said Frank Rohde, CEO of Nomis Solutions. "Our focus on creating immediate margin and profitability improvement through pricing for our customers continues to be a key differentiator in today's environment. Our recent customer wins, and the continued investment in price optimization technology by our existing customers, show that pricing is now more than ever a key lever in driving retail bank performance. We continue to invest in our pricing and profitability management solutions and services based on our customer feedback and market demand, especially in the areas of deposit pricing, mortgage retention management, and personal lending. Going forward, we will use our financial position to extend Nomis' leadership in the pricing and profitability management for financial services."

About Nomis Solutions
Nomis Solutions enables best-in-class Pricing and Profitability Management for financial services companies. Through a combination of advanced analytics, innovative technology, and tailored business processes, the Pricing and Profitability Management™ Suite delivers quick time-to-benefit, and improves financial and operational performance throughout the customer acquisition and portfolio management processes.

The Pricing and Profitability Management™ Suite of business solutions includes the award-winning Nomis Price Optimizer™, the Nomis Offer Optimizer™, the Nomis Mortgage Portfolio Optimizer™ Suite™, and the Nomis Navigator™. These solutions are designed to meet the specific requirements of auto finance, home equity lending, personal lending, mortgage, and deposits executives. Select customers include Abbey (part of the Santander Group), Bank of Montreal, Chrysler Financial, HBOS plc (part of the Lloyds Banking Group), Nationwide Building Society, Royal Bank of Canada, and others. Headquartered in San Bruno, CA, Nomis Solutions also has offices in London, United Kingdom. Visit http://www.nomissolutions.com or contact us at info(at)nomissolutions(dot)com or 1-650-588-9800 or +44 0207 812 7251.

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Danna Yaniv
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