Nomis Price Optimizer(TM) License Agreement Renewed Based on Four Years of Achieved Benefits LONDON, and SAN BRUNO, Calif., July 14
LONDON, and SAN BRUNO, Calif., July 14 /PRNewswire/ -- Nomis Solutions,
the leader in pricing optimization for banking and finance, announced today
that HBOS has renewed its license of the Nomis Price Optimizer(TM). The
hosted solution, used by HBOS' pricing managers to optimize the prices of
consumer loan originations, provides an agile pricing framework that precisely
prices loans for specific segments to achieve business objectives, financial
performance goals, and portfolio mix targets.
HBOS, a major European bank, was the first bank in the world to use Nomis
Solutions' pricing optimization solution. Now in its fourth year at HBOS, the
Nomis Price Optimizer has been a valuable component of HBOS' pricing strategy
and process.
"Since working with Nomis Solutions our pricing team has achieved both
strategic and operational benefits. We continue to gain insights about our
customers and our product performance, which we've used to advance our pricing
practices and process," said Alex Park, senior manager, Pricing, Unsecured
Personal Loans at HBOS.
By gaining insight into the impact of price on product performance, HBOS
has adopted a more sophisticated approach to pricing that includes more
refined segmentation. This allows HBOS' pricing managers to tailor pricing
strategies for specific segments. Additionally, the Nomis Price Optimizer
supplemented HBOS pricing processes with a more disciplined, consistent, and
efficient pricing process that provides transparency and supports regulatory
requirements.
"As one of Nomis Solutions' first customers, HBOS has been instrumental in
helping us advance our solution and our delivery process," said Ian Pollard,
head of sales for Nomis Solutions Europe. "HBOS has benefited from being an
early adopter of pricing optimization. We are pleased that HBOS continues to
generate value from the solution and our relationship."
About Nomis Solutions
Nomis Solutions is the recognized leader in Profit-based Pricing for
banking and finance. Powered by pricing optimization, 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 Optimizer(TM) Suite including Nomis
SmartRanges(TM) and the Nomis Offer Optimizer(TM) 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 customer preferences impact product and
portfolio performance through a consistent, repeatable and efficient pricing
process that supports compliance. Select customers include Abbey,
AmeriCredit, Chrysler Financial, 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 http://www.nomissolutions.com or
contact us at info@nomissolutions.com or 650-588-9800.
Nomis Solutions and the 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.
SOURCE Nomis Solutions
