Nomis Solutions, global pricing and profitability technology leader for the financial services sector, reports strong growth in 2014 as the banking world responds to a new industry landscape driven by regulatory changes.
Customer success and an expanding product portfolio are driving rapid expansion at Nomis, where customers will optimize $1 trillion in banking transactions this year alone and have generated over $1 billion in incremental profits since the inception of the company.
The EMEA region specifically is an investment focus for Nomis, as it will drive the company’s growth in response to fast-changing demands currently placed on banks across all geographies. This expansion leverages existing client relationships in the UK and South Africa, and includes emerging contracts in Central Europe, Scandinavia, and the Middle East.
Damian Young, Director of Banking Services EMEA at Nomis, chaired a recent EFMA conference in Barcelona where there was hot debate around legislative challenges impacting the sector. Young commented, “We have seen a significant shift in the focus of banks in 2014 as economies resume a level of ‘normality’ and balance sheets return to healthier positions. With international funding markets opening up, there is a notable shift towards rebuilding the P&L of banks while meeting customer demands under tighter regulatory restrictions. As a result, we are seeing more banks leveraging data to become more efficient financially and more ethically transparent. Solutions such as those offered by Nomis enable banks to use market, customer, and competitor data to maximise the efficiency of deposit, mortgage, and loan books. The result is better customer insight for product and segment design, coupled with optimised pricing to meet P&L objectives.”
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Headquartered in Silicon Valley with offices in Toronto and London, award-winning Nomis combines the most effective Silicon Valley approaches to big data, advanced modelling, and deep analytics to support large and medium-sized retail banks, including 20 of the top 100 banks globally. Nomis continues to lead innovation with recent technology updates to its price optimiser and discretion manager solutions, as they continue to expand hiring.
Addressing why more banks are adopting Nomis technology, CEO Frank Rohde said, “Banks are increasingly recognising the need to be swifter and more nimble in their approaches to new industry requirements driven by regulatory change. As a result, banks are investing in dynamic systems, applications, and processes to help them use big data. Nomis is working with leading banks in Europe, Canada, the US, and South Africa in key areas such as data science and portfolio technology. Our technology and data modelling capabilities recognise banks’ core competencies in banking, and help them manage their portfolios—in mortgages, lending, deposits, etc. —more dynamically, efficiently, and profitably. This way, banks can make better decisions on pricing, product design, and how to serve their customers.”