In a new report titled “Anatomy of a Decision: Bank Price Optimization Technologies,” analysts at Nucleus Research conducted in-depth interviews with banking technology leaders about their most critical growth tools and they revealed that Nomis Solutions is their top choice for Price Optimization.
Established in 2000, Nucleus Research analysts have used their technology understanding blended with a financially-focused investigative research approach to deliver quantitative analysis of software solutions that help companies grow and assessments of growth markets.
Evaluating FICO, Nomis Solutions, Earnix, and Novantas, Nucleus found that Nomis Solutions stood out as the leading price optimization service for industry expertise, advanced functionality, and productivity enhancements.
“With the explosion of available data, analyzing customer sensitivity in combination with other external influencers is becoming essential for companies of all industries to maintain a competitive edge,” said Anne Moxie, analyst with Nucleus Research. “In speaking with users of bank price optimization solutions, Nomis has been the most successful at leveraging its industry expertise to deliver granular customer segmentation and accurate price optimization.”
As rising interest rates put pressure on the financial sector, banks are increasingly seeking third-party technology tools for a competitive advantage. Pricing optimization solutions give banking professionals unique insights into what features, rates and services matter most to their customers, but not all solutions deliver equally.
‘Nucleus has found that industry specific solutions, such as Nomis, offer a 57 percent faster time to value because they require less consulting spend and because they are built to already address unique pain points with minimal custom code,’ according to the report. ‘In speaking with customers, Nucleus found that, on average, users were able to reallocate 60-75 percent of their internal team, or to avoid the cost of new hires. Previously, customers had to manually calculate pricing segmentation, which is an extremely challenging and time-consuming process.’
“Nucleus Research has been a reliable source of objective analysis for many years. In a world where it is hard to understand the difference between various software solutions as a buyer, it is very helpful to have tools like this report to separate truth from wishful fiction,“ said Ken Pulverman, CMO of Nomis Solutions. “I am delighted to have Nomis recognized for our industry expertise and leading solutions by Nucleus.”
The Nucleus Research report on pricing optimization can be accessed online. Banks are also invited to attend the Banking Growth Forum in San Francisco May 19-20, 2016 where the use of pricing optimization in a comprehensive growth strategy will be discussed.