Nomis Solutions is the recognized leader in Profit-based Pricing for banking and finance. Powered by price optimization technology,
Profit-Based Pricing is an innovative approach that enables executives to strategically use pricing to achieve improved financial results, gain insight into customer preferences, and support compliance.
The award-winning Nomis Price Optimizer Suite is a set of business solutions that combines pricing analytics, optimization, and execution into a comprehensive pricing strategy and process.
Nomis Solutions is the recognized leader in pricing optimization for banking and finance. Pricing optimization 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 Suite 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, Ford Motor Credit Company, 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.
Nomis Solutions History
Nomis Solutions was founded by Dr. Robert L. Phillips and Simon Caufield in 2002. Dr. Phillips has worked in the area of Price Optimization for 20 years and was instrumental in the adoption of the technology in many industries including: airline, hotel, manufacturing and retail. After successfully generating additional profits for these industries, Dr. Phillips was interested in helping banks and finance companies achieve the same benefits. He partnered with Simon Caufield, an expert in financial services, to identify the unique profitability dynamics of the industry.
Banks and finance companies have an immense amount of customer data, which is a critical component to developing price optimization solutions in any industry. Based on the availability of this data as well as the market readiness for an innovative approach to pricing that is focused on the customer and helps maximize profits, Dr. Phillips and Simon Caufield founded the company Nomis Solutions to deliver Profit-based Pricing solutions to the financial services industry.
