Nomis Solutions Drives Customer-Level Insights for Improved Financial Results at Retail Banks With Big Data, Behavioral Modeling, and Bayesian Analytics

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Nomis Solutions Launches Next-Generation Pricing Solution

How Big Data Drives Pricing at Banks Infographic

How Big Data Drives Pricing at Banks Infographic

This level of data-driven discipline in pricing and forecasting will separate the largest and most innovative banks over the next two years as they better understand their customers, and differentiate their products, offers, and services.

Executives in charge of pricing and products at retail banks have long looked forward to the holy grail of a deeper understanding of customers, individual relationships, and the ability to find deeper behavioral patterns. With the latest release of the Nomis Price Optimizer (NPO) software, Nomis Solutions has leapfrogged the industry and moved the topic from wish list to reality.

“First-generation approaches rely on aggregate data, and therefore are looking at groups of similar customers that can miss important variability. This can include a myriad of regional differences, customer account types, and behavioral nuances,” said Frank Rohde, CEO of Nomis Solutions. “We’ve been asked for this by deposits customers across North America and EMEA. This level of data-driven discipline in pricing and forecasting will separate the largest and most innovative banks over the next two years as they better understand their customers, and differentiate their products, offers, and services. Banks that want to keep pace will need to be aggressive, and there are many large and mid-tier banks that are looking to deploy these powerful analytics to take share from larger banks.”

Etailers and retailers have proven the value of leveraging big-data analytics for improved targeting to drive top-line, bottom-line, and customer-satisfaction results. Now banks are looking to do the same.

Rohde explains, “I talk to bank executives every day and quite a few have been very interested in the promise of customer-level analytics and how they can drive better results with it. Especially as we move into a period of rising interest rates where large volumes of deposits are going to be in play, banks with a deeper understanding of their customers will be able to drive disproportionate margin and volume growth, within the regulatory requirements of customer fairness and liquidity coverage. The Nomis Price Optimizer 4.5 now allows banks to link forecasting, stress testing, and pricing in the same enterprise-strength software, driven by customer- and transaction-level analytics. For the first time, banks can leverage big-data toolsets such as Hadoop and machine learning to manage terabytes of customer data for the critical pricing, forecasting, and stress-testing functions within a deposits portfolio.”

Nomis is leading the industry by bringing the cutting-edge Silicon Valley technologies of big data and advanced modeling and analytics to retail banking. As banks are able to collect more and more data, they are facing new challenges and risk getting bogged down with how to analyze and leverage the information effectively. Big data used to be a tool just for very large companies, but it is easy for a medium-sized bank to run into big-data challenges that first-generation tools cannot handle. The Nomis infographic that shows how big data and advanced analytics apply to retail banking is available on request from marketing(at)nomissolutions(dot)com.

Since its founding ten years ago, Nomis has been 100% focused on financial services and leveraging big data to drive more profitable insights and decisions for banks and credit companies.

“Nomis exists because we believe that if banks understand their customers, everyone profits,” Rohde added. “That includes both the bank and the customers, who benefit from products and pricing that address their needs.” Retail bank executives who have been thinking about going deeper with analytics and have been waiting for customer-level analytics are encouraged to contact Nomis at 650-588-9800 ext. 248.

With proven in-market results, rapid growth, and patents, Nomis is both a market and technology leader. Nomis’ solutions are available for banks with at least $1 billion in deposits balances. Companies that are interested can request an evaluation to determine their performance potential by contacting Nomis at info(at)nomissolutions(dot)com.

Tweet this: News: @Nomis_Solutions releases version 4.5 of NPO. Better targeting, better aligned products for individual #bank customers #BigData #analytics #fintech

About Nomis Solutions
Nomis Solutions provides 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. With experience working on over 50 implementations in the Banking and Finance world, Nomis Solutions customers have optimized over $600 billion in banking transactions and generated over $600 million in incremental profits.

Headquartered in Silicon Valley, Nomis Solutions also has offices in Toronto and London. Visit or contact us at info(at)nomissolutions(dot)com or 1-650-588-9800 or +44 0207 812 7251.

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David Rand
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