Nomis Solutions Announces New Customer Relationship with Innovative Canadian Bank, Tangerine

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Innovative direct bank Tangerine, focused on delivering an enhanced everyday banking experience that would allow Canadians to bank on their own terms, was looking for a way to responsibly grow its deposits portfolio. After extensive research and evaluation, Tangerine selected Nomis Solutions, the leader in pricing and profitability management solutions for banks.

Our partners have to be visionaries and forward thinkers who are willing to challenge us to help us stay ahead of the curve.

Nomis Solutions announced today a new customer relationship with Tangerine, an innovative direct bank that started as ING Direct and was officially renamed Tangerine after it was purchased by Scotiabank in 2014. Focused on delivering an enhanced everyday banking experience that would allow Canadians to bank on their own terms, Tangerine was looking for a way to responsibly grow its deposits portfolio.

After extensive research and evaluation of several strategic alternatives to support its vision, Tangerine selected Nomis Solutions.

Nomis Solutions, the leader in pricing and profitability management solutions for banks, provides SaaS solutions, thought leadership, and consultation to help banks responsibly assess their portfolios and price loans, mortgages, and deposits based on customer preferences and behaviour, segment risk, economic factors, retail banking regulations, and bank policies.

This long-term partnership will enable Tangerine to build new customer engagement models that will deepen customer relationships and enhance their innovative and simplified banking experience across product lines.

“Times have changed for the banking industry. The days of one-size-fits-all products are over and customers now expect innovative and cutting-edge solutions that simplify banking,” said Silvio Stroescu, Managing Director of Deposits and Investments at Tangerine. “Nomis’ approach to understanding customer preferences and behaviour, and their software capabilities in translating that into actionable pricing and product propositions, is what appeals to us.”

“We don’t look for vendors—we only want strategic partners, and we select them much the same way that we select our employees. Our partners have to be visionaries and forward thinkers who are willing to challenge us to help us stay ahead of the curve,” Stroescu added.

Stroescu is part of a new wave of visionary leaders in banking who have recognized the impact that big data and deep analytics play in truly understanding customers and their needs, which results in a better everyday banking experience and more innovative products to better serve client preferences.

Frank Rohde, President and CEO of Nomis, added: “Nomis actively seeks out customers who stand out from the competition and who are willing to challenge the status quo and genuinely improve the industry through responsible growth. We are delighted to be in this strategic partnership with an innovative bank like Tangerine.”

“Our solution will help Tangerine harness real customer data to optimize their portfolio for profitability all while delivering responsible, fair pricing in each customer segment.”

Learn more about Tangerine’s growth plans leveraging Nomis as well as the experiences of other banks who are responsibly growing their portfolios while optimizing for profitability with Nomis at Nomis Forum 2015, the company’s 8th annual growth and pricing conference being held April 13-15 in San Francisco, CA (http://www.nomisforum.com).

Nomis will also be presenting at and attending CBA Live in Orlando at booth #21.

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Notes for editors

About Tangerine
Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With more than 1.9 million clients and close to $38 billion in total assets, we are Canada's leading direct bank. Tangerine offers banking that is flexible and accessible, products and services that are innovative, fair fees, and award-winning client service. From no-fee daily chequing and high-interest savings accounts, GICs, RSPs, TFSAs, mortgages and mutual funds, Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, our presence extends beyond our website and Mobile Banking app to our 24/7 Contact Centres and our Café locations. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank, and operates independently as a wholly-owned subsidiary.

About Nomis
Nomis is a fast-growth company that combines cutting-edge Silicon Valley approaches to big data, advanced modeling, and deep analytics to help large and medium-sized retail banks better understand their customers. We help these banks deliver win-win products and pricing in an environment that is increasingly competitive, highly disruptive, and with an expectation of rising interest rates. In 2014, Nomis customers optimized over $1 trillion in banking transactions and since inception, Nomis customers have generated over $1 billion in incremental profits.

Headquartered in San Bruno, CA, Nomis Solutions also has offices in Toronto and London. 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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