Finance Articles

Nomis Solutions Empowers Credit Analysts and Underwriters in Auto Finance with a Targeted Decision Support Solution for Negotiation

San Bruno, CA (PRWEB) May 6, 2008 -- Nomis Solutions, the leader in Profit-based Pricing (http://www.nomissolutions.com/solutions/solutions.html) for banking and finance, announced today the introduction of the Nomis Offer OptimizerTM. The solution empowers credit analysts and underwriters with the ability to optimize individual loan applications, as well as groups of deals at the point of sale. Armed with a powerful and automated optimization solution that provides key insights such as a dealer scorecard, deal history, likelihood of acceptance, as well as the ability to customize deals on the fly, credit analysts can now meet the needs of dealers while adhering to corporate business objectives.

The majority of auto finance companies that rely heavily on negotiation with dealers face two limitations: the inability to centralize all of the key information necessary to make the best offer and a lack of understanding about how a dealer and customer will respond to the offer. These shortcomings result in up to 20% losses in profit.

The Nomis Offer Optimizer is available immediately and works seamlessly with the Nomis Price Optimizer? for Auto Finance, the leading pricing optimization solution in the automotive finance market. The Nomis Offer Optimizer leverages the deep insights into dealer and customer response that are developed by the Nomis Price Optimizer. This real-time negotiation tool provides credit analysts with a central location for key information about each opportunity, the dealer scorecard and dealer history. An interactive interface provides flexibility by enabling frontline staff to quickly test various offer scenarios and understand the expected profit and conversion of each offer in order to find the best fit for the dealer and the lender before responding. For example, credit analysts can test the buy rate that a dealer has requested to see how it will impact return on equity (ROE) targets. They can change the buy rates, monthly payments, and loan terms while meeting a particular ROE and dealer fee. They can also optimize the offer with specific constraints in order to come up with the best offer.

For those organizations who don't want to arm their analysts with a negotiation tool but want to empower them with more than just a rate sheet and general discretionary guidelines (which typically are +/- 100 basis points in override authority on all deals), Nomis Solutions offers SmartRangesTM. These are segmented and optimized negotiation ranges that are available for each rate sheet cell, but not each individual deal. They are easy to implement and do not require a change to underwriting processes or systems. With SmartRanges, lenders can be more sophisticated in their pricing to better meet dealer and customer needs while ensuring that their lending practices remain aligned with the financing company's overall corporate objectives.

"The Nomis Offer Optimizer arms frontline staff with the tools they need to understand the benefits and tradeoffs of different offers," said Frank Rohde, chief marketing officer and vice president of product management at Nomis Solutions. "It empowers them to make smarter decisions that meet dealer and customer needs while supporting corporate profit and revenue goals. There is a great opportunity for the Nomis Offer Optimizer to address a real auto finance industry challenge and extend our award-winning pricing optimization technology beyond the central office and into the hands of the frontline staff."

Nomis Solutions is well established in the auto finance industry with more than $1 billion in auto finance contracts being optimized each month using the Nomis Price Optimizer. Nomis Solutions supports a full range of automotive finance customers, including Ford Motor Credit Company, the finance arm of Ford Motor Company and one the world's largest automotive finance companies, and AmeriCredit, a leading independent automobile finance company in the United States and Canada. Nomis Solutions has helped generate increases in funded volume between 18% to 22%, combined with increases in profitability of booked loans between 4% and 15%, as well as increases in profitability of negotiated deals by up to 20% without volume drops.

About Nomis Solutions

Nomis Solutions is the recognized leader in Profit-based Pricing for banking and finance. Powered by pricing optimization technology, Profit-based Pricing is an advanced approach to pricing that provides the insights, automation and capabilities necessary to use pricing as a strategic lever to achieve performance objectives and implement price changes more dynamically and frequently. The award-winning Nomis Price OptimizerTM Suite including Nomis SmartRangesTM and the Nomis Offer OptimizerTM is a set of business solutions that combines pricing analytics, optimization, and execution into a comprehensive pricing strategy and process.

The suite includes specific solutions for auto finance, home equity lending, personal lending, mortgage, and deposits. Each solution delivers quick time-to-benefit, increases profits and market share by 10-20%, and provides valuable insights about how dealer and/or customer preferences impact product and portfolio performance through a consistent, repeatable and efficient pricing process that supports compliance. Select customers include Abbey, AmeriCredit, Ford Motor Credit Company, GE Money, HBOS plc, Royal Bank of Canada, and Washington Mutual Bank. Headquartered in San Bruno, CA, Nomis Solutions also has offices in London, United Kingdom. Visit www.nomissolutions.com or contact us at info@nomissolutions.com or 650-588-9800.

Nomis Solutions, Nomis Price Optimizer Suite, Nomis SmartRanges and the Nomis Offer Optimizer 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.

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