SOUTH
SAN FRANCISCO, Calif., July 9, 2024
/PRNewswire/ -- Following a significant period of
solution expansion at Nomis Solutions ("Nomis"), Celent has
published a comprehensive solution brief highlighting the
significance of integrating price optimization with offer and deal
management. This strategic combination empowers financial
institutions to craft and execute optimal pricing strategies,
enhancing their competitive edge in a rapidly evolving market.
Celent's analysis situates this development within the broader
industry context, where historically low interest rates have driven
banks to compete primarily on price in the lending space. However,
the recent rise in interest rates has shifted the focus towards the
pressing issue of deposit acquisition and retention. As banks adapt
to this new reality, the need for robust price optimization
capabilities has never been greater.
For over 20 years, Nomis has been at the forefront of the price
optimization sector, consistently innovating to meet the needs of
financial institutions. Our expanded suite of solutions now spans
the entire financial lifecycle, encompassing price optimization,
price and offer management, and deal management. While our
offerings cater to both lending and deposits, the current industry
focus on deposits has driven rapid expansion of our deposit
analytics and optimization capabilities. Celent's brief underscores
this trend, noting, "…in the short term, interest in new price
optimization capabilities is likely to be strongest on the deposits
side of the business, where investment in analytics capabilities is
generally much weaker for many institutions, given the prolonged
period of ultra-low interest rates. Nomis does offer a particularly
interesting solution here, offering relatively ready-to-go
flow-of-funds and optimization capabilities."
This intensified focus on deposits has also influenced our
recent strategic decision to appoint Wes
West as Nomis' new Chief Analytics Officer. An industry
expert in analytics and modeling for financial institutions, Wes
has been instrumental in enhancing our deposits offering,
reinforcing Nomis' position as a leader in the field.
As we continue to innovate and expand our solutions, Nomis
remains committed to empowering financial institutions with the
tools they need to navigate an increasingly complex landscape. For
more information about our latest offerings and insights, visit our
website at nomissolutions.com.
About Nomis Solutions
For over 20 years, Nomis has been dedicated to improving the
science and execution of pricing. Our mission underpins our focus
in this space: to help banks, credit unions, and lenders
differentiate and grow their brands by developing relationships
with customers that are both personalized and profitable. We offer
a comprehensive set of solutions for setting, managing, and
executing price to meet each financial institution where they are
in their price management journey.
About Celent Solution Briefs
Celent is the leading research and advisory firm focused on
technology for financial institutions globally. A Solution Brief is
a Celent Insight that provides Celent research clients with timely
updates on vendor/fintech solutions and strategies. The decision to
write a Solution Brief is at the Analyst's discretion and does not
require the vendor to be a client or to pay any fees for Celent to
write the Solution Brief Report.
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SOURCE Nomis Solutions Inc