Speaker: Frank Rohde, President and CEO
Knowing how to think about the pricing problem is critical. Solving the math challenge of optimizing prices and offers is crucial. But the biggest challenge is how to operationalize the pricing process in your bank so that you can rely on precise analytics, reliable execution, and fair & consistent sales force behavior, every day and for every transaction. In this keynote session, we’ll explore how forward-thinking banks have incorporated best in class analytics into their processes and systems architecture to ensure ongoing value creation in a dynamic market. How do we push the analytic insights from back office to front office, enabling bankers to have more meaningful conversations with customers? How do we enable faster and more granular pricing and offers within the limitations of legacy bank systems? And how do we ensure rapid execution in a dynamic market?
Speaker: Bruce Holley, Senior Managing Director at Accenture
Sustained profitable growth in the digital economy requires a vision and strategy that places the customer at the center and pivots in real time with new customer insight. Strategic investments in both infrastructure and capabilities to gain customer insight and curate hyper-relevant in-the-moment offers are the seeds of a living business with the potential to thrive in an often hostile ecosystem. Understand which investments are the right ones to help your bank gain customer insight, revolutionize the omni-channel experience, and curate hyper-relevant moment-centric offers that maximize customer lifetime value.
Speaker: Chris Smith, MD/Founder at Open Ventures
Open banking is set to disrupt and reshape financial services. Its broader implications will impact a multitude of industries, driving growth and innovation for both business and consumers. Come hear how it has already evolved in the UK and Europe and the impact it made on their banking model. Get a global POV on what is happening in the Open Banking space and hear how the Nordics’ experience laid the foundation for Open Data. During this session you will also gain an understanding of proactive strategies that will guide you into the 22nd century.
Speaker: Geoff Finnie, Head, Credit Strategy and Portfolio Performance, BMO Financial Group
Banking pricing strategies are predominantly executed independently across the business resulting in inconsistent and inefficient outcomes. Come hear how Bank of Montreal was able to gain internal support to establish an enterprise pricing program that would drive greater value for their bank. This session will give an overview of BMO’s vision and approach, be candid about the challenges in establishing an enterprise program, and provide practical recommendations based upon recent experience.
Speaker: Bob Phillips, Founder, Nomis Solutions and Director of Pricing Research at Amazon
Over the past decade, machine learning has rapidly become an important tool to support financial decision making in many areas from underwriting to fraud detection to targeted marketing. In this talk we describe how on-line sellers can use reinforcement learning – a variety of machine learning – to support pricing decisions. Using reinforcement learning, a seller can test different prices and, based what he learns about customer response, can adjust prices of different products continually to meet corporate goals. Strengths of the approach are that it does not make ad hoc assumptions about the underlying form of customer response and that it can adapt quickly to market changes. A potential challenge is that it requires the ability to test customer response to different prices which presents certain changes. We describe how the general approach can be used by on-line retailers and then discuss the specific challenges involved in applying such approaches to consumer financial products.
Intensifying competition, macro variances, and evolving customer expectations are driving banks to reevaluate. This track explores how banks achieve sustainable growth in today’s hyper-competitive market through customer-centric pricing and product strategies.
Deposit managers waited years for the orderly margin expansion typically promised in a rising rate cycle, but the reality of the past 2+ years has felt different for many. New competitive dynamics, a fickle economic recovery, and an operating environment punctuated by uncertainty have clouded the picture in various ways. Join Brian Buckingham (Nomis, SVP of Services) and Tom Hoscheidt (Managing Director, BAI) for a discussion of deposit market dynamics, insights into today’s central challenges and key takeaways for deposit managers looking to drive portfolio objectives amidst an unprecedented level of ongoing change.
Moderator: Dave Nicholson, Director of Customer Success, Nomis Solutions
Come hear how two different financial institutions are taking action to better align their use of Deposits pricing with what customer segments value.
Brian Connelly, Business Intelligence Analyst, Savings Portfolio Pricing & Analysis, Navy Federal Credit Union
Jason Isaacs, Senior Product Manager, Retail Deposits, Fifth Third Bank
Speaker: Wei Ke, Partner, Simon-Kucher and Partners
With heightened expectations of personalization and instant gratification, today’s banking customer is challenging banks in new ways every day. Come hear how behavioral economics can help navigate these unchartered waters. In this session, we will dive into mental experiments and established behavioral foundations. We will also make the connection to your business through behavioral applications to banking and implications for your digital channels.
Speaker: Cameron Krueger, Managing Director at Accenture
There is enormous opportunity for digital early adopters in auto finance to pass industry laggards and defend against new market entrants with data-driven business models. Some of the most exciting prospects include new revenue opportunities coming from customer usage data in connected vehicles. In this session, get the keys to moment-centric pricing and offers for new and existing auto loan customers.
How can technology help you achieve your business goals? Are you harnessing the opportunities that lies within your data to really engage with your customers? In this track, participants will engage in dialogues focused around how to ensure your technology and data strategies are supporting your growth objectives.
Explore the lessons learned and insights gleaned about customer behavior and price sensitivity that have resulted from analyzing customer financial behavior across diverse, global banking markets with unpredictable interest rate environments. How is price sensitivity and behavior changing over time? How has relative customer preference shifted between products? And what are we discovering about the behavior of micro-segments and markets? Why is it critical to monitor and recalibrate these customer- and market-dynamics efficiently? And what data taxonomies, analytic methodologies and technology infrastructures do you need to effectively facilitate and quantify these insights at speed and scale?
Speaker: Peter Li, Principal, Data Analytics, Nomis Solutions
The main purpose of building predictive models for your portfolio is to forecast and optimize, but there are many other “by-product” values that banks can get from the modeling process, which should not be overlooked. In this presentation, we will show you how to get a data-driven understanding of your products and customers, and the critical pieces of intelligence you may missing that could drive incremental outcomes for your business.
Moderator: Kiran Hew, Principal, US and APAC lending at Nomis Solutions
While home equity lending has not regained their pre-financial-crisis popularity, there is some hope for a rebound. With home prices on the rise, homeowners have more equity to tap to do things such as make home improvements, fund education or consolidate debt. But several factors, including changes to tax regulations, might affect the popularity of home equity loans in 2019. Come join the discussion on how your peers are addressing the challenges of attracting and retaining the customers they want. Hear how customer centric pricing will enable lenders to set price adjustments in line with the value the customer is bringing to the bank, thus creating a win-win situation for both.
Derek Conley, Home Equity Pricing Manager, Wells Fargo
Raymond Washio, VP, Iberia Bank
Laura Ott, Retail Lending, Pricing and Competitive Intelligence Manager, BMO Harris Bank
Speaker: Mohammad Moghadasi, Staff Optimization Engineer, Nomis Solutions
What is true optimization? Why is it valuable? How is it different from simulation or rules-based decisioning? What challenges and complexities does “price” optimization specifically pose? And what are some approaches to solving them? This session will begin with a gentle introduction to and a compare and contrast of various decision management and optimization approaches. We’ll then dive a little deeper into what makes price optimization in financial services different from other types of decision optimization problems and the complexities and challenges that are often encountered in solving for price. Finally, the session will explore the state-of-the-art and the future of optimization in pricing, addressing the challenges of simplicity, transparency, scale and speed.
Successful change management and governance is a blend of strategy, tools and activities to influence user engagement, and mitigate people and organizational risk. Understand how to establish and align key organizational components in order to increase the pace, certainty and profitable outcomes of your pricing and product strategies.
Speaker: César Rainusso, Managing Director - Canadian Lead, Distribution (Channels) and Marketing at Accenture
Implementing an analytics-based strategy for customer-centric pricing and offers begins with transforming the bank’s pricing infrastructure and capabilities. In this panel discussion, hear real-world experiences of banking leaders making the journey from optimized to personalized pricing and offer management and ideas for growing your bank’s pricing capabilities for greater customer insight and sustained profitable growth.
The market is moving to Dynamic, Data Driven Customer-Centric Pricing. This session discusses how banks are starting to make significant progress toward customercentric pricing and how the landscape is likely to look very different within the next 3 years. Customer-Centric Pricing is the path forward, Moving to Market-of-One Segmentation, by calculating the optimal price for each transaction (customer), market-of-one pricing has the potential to generate higher profits than any finite segmentation scheme. However, market-of-one pricing requires a significantly different pricing and quote architecture than most banks have in place. Moving from traditional segmentation for pricing strategies to a Market-of-One pricing method of segmentation can be used to create strategic advantage in a competitive environment of changing rates. In practice, most lenders stop well short of Market-of-One pricing. Come join our session and learn how a Customer-Centric price-setting process explicitly incorporates market feedback.
Speaker: Mike Redding, Managing Director - Accenture Ventures
The digital saturation of the economy has given banks exceptional capabilities to understand customers with a new level of granularity. With more channels than ever to reach customers, banks are investing heavily in digital technologies with more potential partners to help curate holistic omni-channel experiences. In this session, participants will see results of Accenture’s 2019 global Technology Vision survey and understand how five key technology trends will continue the banking evolution in the post-digital era.
Speaker: Steve Barkin, Senior Director, Global Lending Professional Services at Nomis Solutions
In addition to competitive rates, consumers are increasingly looking at other factors when shopping around for a loan. Misaligned customer expectations and experiences may explain why demand for home equity loans continues to disappoint despite hot real estate markets and rising interest rates. How can lenders raise their game? The answer may lie with your customers.
Join the conversation to learn about key consumer needs and expectations that banks must meet to keep Home Equity a relevant solution.
In today’s hyper-connected world, the customer experience is about how, where, when, and why engagement happens. Our markets are no longer broad targets—they are collections of individuals, each of whom has a different and dynamic relationship with your bank. Experiences are increasingly driving customer loyalty more than just providing reliable products and services. Hear how one bank benefited by making customer centricity a priority by delivering a seamless, digital, omni-channel experience for their mortgage customers.