Top Ten US Auto Finance Lender
Challenge: Improve conversion rates to support dealer network.
Using Nomis Solutions’ pricing tools, this top five US Auto Finance Lender gained a 20% improvement in conversion rates at a stable ROE. The Lender responded faster to changing regional market conditions to meet both dealer and customer needs. Operationally, the Lender improved collaboration across regional pricing teams and centralized risk, finance and analytics teams. The results exceeded everyone’s expectations.
US Auto Finance Lender
Challenge: Optimize pricing in a rate-transparent environment across a spectrum of portfolios.
This top tier US Auto Finance Lender was able to optimize pricing in a highly negotiated, rate transparent environment across all their lending portfolios. This resulted in a profit improvement of $4 million after the first 3 months of use and an overall improvement of $12 million in the first year. Strategically, the Lender gained better utilization of funds, preserving liquidity. And lastly, the Lender was able to curb margin erosion from excessive rate discretion and increase granularity in their pricing to 20+ pricing regions.