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.”
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.”
Oil set for steady gains as economies shake off pandemic blues – Reuters poll
By Sumita Layek and Bharat Gautam
(Reuters) – Oil prices will stage a steady recovery this year as vaccines reach more people and speed an economic revival, with further impetus coming from stimulus and output discipline by top crude producers, a Reuters poll showed on Friday.
The survey of 55 participants forecast Brent crude would average $59.07 per barrel in 2021, up from last month’s $54.47 forecast.
Brent has averaged around $58.80 so far this year.
“Travel and leisure activity look set to catch up to buoyant manufacturing activity due to the mix of stimulus, confidence, vaccines, and more targeted pandemic measures,” said Norbert Ruecker of Julius Baer.
“Against these demand dynamics, the supply side is unlikely to catch up on time, leaving the oil market in tightening mode for months to come.”
Of the 41 respondents who participated in both the February and January polls, 32 raised their forecasts.
Most analysts said the Organization of Petroleum Exporting Countries and allies (OPEC+) may ease current output curbs when they meet on March 4, but would still agree to maintain supply discipline.
“With OPEC+ endeavouring to keep global oil production below demand, inventories should continue falling this year and allow prices to rise further,” said UBS analyst Giovanni Staunovo.
Oil demand was seen growing by 5-7 million barrels per day in 2021, as per the poll.
However, experts said any deterioration in the COVID-19 situation and the possible lifting of U.S. sanctions on Iran could hold back oil’s recovery.
The poll forecast U.S. crude to average $55.93 per barrel in 2021 versus January’s $51.42 consensus.
Analysts expect U.S. production to rise moderately this year, although new measures from U.S. President Joe Biden to tame the oil sector could curb output in the long run.
“A structural shift away from fossil fuels” may prevent oil from returning to the highs of previous decades, said Economist Intelligence Unit analyst Cailin Birch.
(Reporting by Sumita Layek and Bharat Govind Gautam in Bengaluru; Editing by Arpan Varghese, Noah Browning and Barbara Lewis)
Japan’s jobless rate seen up in January due to COVID-19 emergency measures – Reuters poll
TOKYO (Reuters) – Japan’s jobless rate is expected to have edged up in January as service industry businesses suffered renewed restrictions on movement to fight spread of the coronavirus in some areas, including Tokyo, a Reuters poll of economists showed on Friday.
While industrial production activity picked up in Japan, emergency curbs rolled out last month such as asking restaurants to close early and suspending the national travel campaign hurt the jobs market, analysts said.
The nation’s unemployment rate likely rose 3.0% in January, up from 2.9% in December, the poll of 15 economists found.
The jobs-to-applicants ratio, a gauge of the availability of jobs, was seen at 1.06 in January, unchanged from December, but stayed near September’s seven-year low of 1.03, the poll showed.
“As the impact from the coronavirus pandemic prolongs, it is hard for firms, especially the service sector, to expect their business profits to improve,” said Yusuke Shimoda, senior economist at Japan Research Institute.
“So, their willingness to hire employees appear to be subdued and it is difficult to see the jobs market recovering soon.”
Some analysts also said the government’s steps to support employment and existing labour shortages will likely prevent the jobless rate from worsening sharply.
The government will announce the labour market data at 8:30 a.m. Japan time on Tuesday (2330 GMT Monday).
Analysts expect the economy to contract in the current quarter due to the emergency measures to counter the spread of the disease.
(Reporting by Kaori Kaneko; Editing by Simon Cameron-Moore)
China’s economy could grow 8-9% this year from low base in 2020 – central bank adviser
BEIJING (Reuters) – China’s gross domestic product (GDP) could expand 8-9% in 2021 as it continues to rebound from the COVID-19 pandemic, Liu Shijin, a policy adviser to the People’s Bank of China, said on Friday.
This speed of recovery would not mean China has returned to a “high-growth” period, said Liu, as it would be from a low base in 2020, when China’s economy grew 2.3%.
Analysts from HSBC this week forecast that China would grow 8.5% this year, leading the global economic recovery from the pandemic.
If 2020 and 2021’s average GDP growth is around 5%, this would be a “not bad” outcome, said Liu, speaking at an online conference.
China is set to release a government work report on March 5 which typically includes a GDP growth target for the year.
Last year’s report did not include one due to uncertainties caused by the coronavirus. Reuters previously reported that 2021’s report will also not set a target.
(Reporting by Gabriel Crossley and Muyu Xu; Editing by Sam Holmes and Ana Nicolaci da Costa)
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