Finance Articles

Nomis Solutions Enables Banks and Finance Companies to Evolve Towards More Targeted Customer-Centric Pricing

SAN BRUNO, CA (PRWEB) June 13, 2007-- Nomis Solutions, the leader in Profit-based Pricing for banking and finance, announced today the immediate availability of Nomis Price OptimizerTM Suite 3.2. Built in response to customers' evolving needs, the new release enables three main benefits. First, it provides a visual understanding of the various peak performance objectives that are achievable across the entire portfolio or within one product category. Second, it provides a better understanding of and the ability to report on the impact of prices on customers, product and product performance. Third, it helps banks and finance companies take a more customer-centric approach to pricing.



Nomis Price Optimizer 3.2 gives banks and finance companies a competitive advantage and empowers them to be more strategic and effective pricing organizations. The Nomis Price Optimizer has been successfully implemented by 10 banks and finance companies and is generating significant financial improvements. One example of results a bank achieved with Nomis Price Optimizer is a 15% increase in profits and a 13% increase in volume. A finance company realized a 22% increase in volume and 4% increase in profits. These improvements are a result of using existing segments to optimize prices. After gaining valuable insights into how prices impact different customers and the performance of their products and overall loan portfolio, Nomis Solutions' customers can take their pricing to the next level of sophistication.

The New Efficient Frontier
This visual representation is a performance curve that enables pricing executives to see all the points of peak performance that are achievable for all products or any subset of products. Each point along the New Efficient Frontier represents a performance improvement objective and is linked to the underlying pricing strategies required to achieve that objective. Executives can choose an objective and compare it to baseline performance or compare two objectives. They can conduct further analysis to determine how the underlying pricing strategy of the objective would impact the performance of various segments. In addition, they can change the recommended prices in specific segments and compare the new results to the optimal results, and then create a new rate sheet with the click of a button.

Enhanced Reporting
The new release includes standard report templates as well as the ability to create customized reports. These reports empower pricing executives by providing a better understanding of how prices impact key performance indicators and can be used to facilitate discussions with the senior management team and pricing committee members. Examples of new reports include the effects of prices on credit mix, channels, geographies, loan sizes, loan terms, and price overrides.

Refined Segmentation Capability
The refined segmentation capability enables pricing executives to determine the best set of customer and product segments to use in pricing. It calculates the financial impact of subdividing existing segments and recommends how segments should be subdivided. It also calculates the impact of adding new dimensions and recommends the number of bands that should be added. Nomis Solutions' customers are using this capability as part of their evolution towards a more customer-centric approach to pricing.

"We have the luxury of working with really smart banking and finance executives who want to improve their current pricing practices to gain a competitive advantage," said Dr. Robert Phillips, founder, chief science officer and vice president, product management at Nomis Solutions. "We've been closely collaborating with our customers on our solution suite roadmap and we're thrilled with our progress. Our customers can now use Nomis Price Optimizer 3.2 to better understand the potential of their business through the New Efficient Frontier. They can better communicate with others in the organization with insightful reports, and identify the most powerful segmentation to enable pricing at the micro segment level."

In a recent report, TowerGroup, a leading financial services analyst group, predicts that 90% of large U.S. banks will adopt price optimization by 2010. The report cites, "Financial Service Institutions have the opportunity to move to a higher-level of pricing sophistication with the customer as the focal point and to position themselves to better service their customers with a holistic customer approach." (Source: Pricing Optimization: A Practical Guide to a Retail Bank Implementation, April 2007, Reference # V51:01RC, Bobbie Britting, Senior Analyst, Consumer Lending and Kathleen Khirallah, Managing Director and Practice Leader)

In conjunction with the release of Nomis Price Optimizer 3.2, Nomis Solutions is announcing the availability of a hosted offering that saves banks and finance companies time and money. Along with access to the Nomis Price Optimizer solution, customers gain the dedication and expertise of Nomis Solutions' team who manage the hosting, configuration, maintenance and administration of the solution. For more information, please refer to the announcement, 'Nomis Solutions Delivers Benefits of Profit-Based Pricing in Secure and High Performance Hosted Environment," at http://www.nomissolutions.com/news/news.html .

To request more information or a demonstration of Nomis Price Optimizer 3.2, please contact Danielle Davidson at Danielle.davidson @ nomissolutions.com.

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 increase profits and market share. The award-winning Nomis Price Optimizer is a suite of business solutions that combine pricing analytics, optimization, and execution into a comprehensive pricing strategy and process.

The suite includes specific solutions for auto finance, mortgage, home equity lending, personal lending, and deposits. Each solution delivers benefits within 12 weeks, increases profits by 10-20%, and provides valuable insights about customers and portfolio performance within a strong compliance framework. Select customers include AmeriCredit, Ford Motor Credit, GE Consumer Finance, HBoS, RBC, 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.

Contact:
Bill Cox
Experience Communications for Nomis Solutions
208.381.0001
bill @ experiencecom.com
www.experiencecom.com

###

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

Mission Hospital Appoints Quentin Caruana, President of Sage Credit Mortgage Company to Foundation Board of Directors: Quentin Caruana Appointed t
Sage Credit Company, Inc. announced that its President, Quentin Caruana was appointed to Mission Hospital's Foundation Board of Directors. Mission Hospital Foundation supports and assists the hospital, by building lifelong relationships with community members and raising funds for Mission Hospital.

Refinancing With A Second Mortgage Or Home Equity Loan
If you're looking into refinancing your home and have a second mortgage or a home equity loan or line of credit, in some cases you may be out of luck If you want to refinance your primary loan, you first must convince the lenders holding any second position loans to agree to continue to be in a subordinate position behind the new primary loan

Expert Source Available to Comment on President's Subprime Mortgage Proposal
Bills.com co-CEO suggests ways to manage a mortgage during the meltdown

Mortgage Industry Experts Help Save Lenders from Catastrophe
Repurchase Specialists Offer Loss Mitigation Services to Cushion Collapse of Mortgage Market

Wall Street Corporate Finance Academy Offers Low Cost Training for Students & Professionals for Investment Banking and Private Equity
Wall Street Corporate Finance Academy (WSCFA) is a financial training firm that offers Live Training, Corporate Training, University Training, Web Training and career coaching for Investment Banking and Private Equity. Trainings are run as an analyst/associate training program and are taught by experienced professionals with years of Wall Street experience to enhance your skills in valuation, financial modeling and job preparation.

United First Financial Presents A "Cosmic Kick" To Mortgage Woes
Sherry Shayne Independent Agent for United First Financial, a mortgage and debt acceleration company, is sponsoring a NEW radio show called "Cosmic Kick" on VoiceAmerica's 7th Wave channel.

CRAFund Advisors is Now Community Capital Management: New Name Represents Manager's Community-Based Investment Style
CRAFund Advisors, Inc. has changed its name to Community Capital Management, Inc. to better reflect the focus of its unique, community-based investment approach. The Ft. Lauderdale, Florida-based investment manager, founded in 1998, has become one of the nation's largest fixed income money managers focused exclusively on securities that finance community development activities. Since inception, through institutional clients' separate accounts and through the mutual fund it manages, The CRA Qualified Investment Fund (CRAIX), Community Capital Management has directed the purchase of at least $2 billion worth of bonds that have financed hundreds of thousands of affordable housing units, supported affordable healthcare, contributed to environme...

Investment Strategy: Why Investing In The Uranium Industry Can Make You Money
Uranium is the new investment strategy that directs toward the future. As the fossil fuels are declining, the world requires more dependable energy resources. With the shortage of oil and natural gas, the cost of uranium has been rising and at astonishing rates. There is shortage of uranium predicted over next 10 years.

How Can You Assume A Mortgage?
Finding a house with an assumable mortgage these days could prove to be a real find - but it is not very common. Typically only the FHA and the VA uses assumable mortgages, which basically means that another person can simply take over the house and payments. Here is some information that you need to know if you are thinking about taking over an assumable mortgage.

Put Your Accounting Under Accountants control
Accounting is the backbone of the business financial world, it involves organizing, maintaining, recording, and analyzing financial activities. It is an essential and integral part of financial practices around the world, which involves much more than just book keeping, it is an information system which allows business owners analyze and interpret financial data which helps guide important decisions, in other words, accounting Is the World Wide Language Of Business.

British Virgin Islands Becoming Increasingly Popular for the Registration of Non-UK Companies Listing on London's Alternative Investment Market
Recently released Hemscott report shows that the British Virgin Islands (BVI) are becoming increasingly popular for the registration of non-UK companies listing on London's Alternative Investment Market (AIM).

Real Estate Investment Now Made Easier with Real Estate Investing Firm Real Net USA
Real Net makes real estate investing easier with the development of the innovative three Fs: Find, Fund, and Fix.

The Offset Mortgage Centre Announces a New Guide for Flexible Tracker Mortgages
The Offset Mortgage Centre has launched a guide about Flexible Tracker Mortgages to educate the homebuyer on the pros and cons of the mortgage deal. The guide to Flexible Tracker Mortgages is presented in an article format and is an addition to the series of mortgage articles.

Best Investment Opportunities: How To Spot One
Maybe you?re new to the world of investment and you?re doing your best to find opportunities which will pay off well, or perhaps you have tried investing in different ways along the years, and you?d like to expand your existing portfolio with some new investments.