Implementing Nomis Price Optimizer, Nedbank was able to:
Gain an 18% net interest income improvement at stable balances.
Better understand the impact of cannibalization between front- and back-book products to develop a more informed strategy.
Better target new products and timing of offers.
Customer Perspective
We [now] look at new product offerings with a greater understanding of the future implications for the rest of the book. It's also led us to structuring our products in such a way that ... we have different approaches to pricing on all of these products.
The segmentation has allowed us to differentiate based on the clients needs, and that differentiation also is included in the product development. The outcomes of any new introductions are clearly understood and measurable.
We've also got a clearer understanding of how the products flow between each other and how the customers react in different economic cycles to different product categories.
Alison Teal
Head, Retail Balance Sheet Management
