Nomis Solutions and Icon Advisory Announce Partnership to Deliver Higher Profits and Market Share to Home Equity Lenders through Competitive Price Optimization
San Bruno, CA and Greensboro, NC (PRWEB) July 17, 2013 -- Nomis Solutions, the leading provider of Pricing and Profitability Management solutions for financial services companies, and Icon Advisory Group, the consumer lending and mortgage industry’s innovator for competitive lending analytics, announced their partnership that integrates both companies’ solutions to create the industry’s first competitive price optimization platform for home equity lenders. The Nomis Price Optimizer for Home Equity Lending is an innovative pricing platform that combines near real-time competitive data across 75% of transactions in the US with true insights into borrower preferences and price sensitivity at the customer level.
The combined solution enables lenders to forecast, simulate, and optimize what will happen to their portfolios as they change pricing, product, or targeting strategies within the market. Unlike prior-generation pricing optimization approaches, the new solution leverages a comprehensive view across 75% of all home equity transactions in the US to determine how the competitive position impacts market share and profits. Clients of the joint solution leverage weekly data feeds from Icon Advisory, which automatically update competitive demand, preferences, and profit models within the Nomis Price Optimizer.
In addition, Nomis Preference Analytics allow users to determine the optimal product / price / offer to customers at the individual-level based on consumer preferences and price sensitivities. Users can deploy marketing, pricing, and product strategies that are optimized for individual micro-markets and consumer preferences which contribute to higher profits and market share. The joint solution includes a comprehensive workflow that provides the ability to audit marketing strategies for regulatory compliance, impact on risk, and optional adverse selection measures.
“The Nomis Price Optimizer for Home Equity Lending leverages Icon Advisory’s LenderShare data to revolutionize the way home equity lenders develop and deploy marketing and pricing strategies. This partnership brings together two best-in-class solutions and empowers lenders to significantly boost profits and market share through a deeper understanding of their competitive position relative to each consumer’s individual preferences. The power of the Nomis Price Optimizer and Nomis Preference Analytics, now enhanced by real-time transaction data, truly creates an opportunity for financial service companies to create and capitalize on a competitive advantage in the home equity market,” stated Frank Rohde, CEO of Nomis Solutions.
“We are very excited about the partnership with Nomis Solutions,” said Brad Browning, President of Icon Advisory Group. “Combining Nomis Solutions’ software and analytics with Icon’s broad based competitive market data provides actionable information for clients to make highly informed pricing decisions consistent with their respective strategies and enables them to quantify the results.”
About Icon Advisory Group
Icon Advisory Group, Ltd. is the consumer lending and mortgage industry’s innovator for competitive lending analytics providing near-real time pricing and volume analytics. Timely, reliable and specific information delivered to lenders supports their ability to manage margin, assess risk, benchmark operations and strategically grow share. The company strictly adheres to the principles of independence to ensure its role of an unbiased infomediary for the consumer lending and mortgage industry.
Icon is a privately held company headquartered in Greensboro, North Carolina. For more information, visit http://www.iconadvisory.com or contact us at info(at)iconadvisory(dot)com or 800-269-9982.
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 http://www.nomissolutions.com or contact us at info(at)nomissolutions(dot)com or 1-650-588-9800 or +44 0207 812 7251.
Mark Peterson, Nomis Solutions, http://www.nomissolutions.com, 831-626-4400, [email protected]
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