Price is just one of many factors that influence borrowers' decisions. Nomis data science helps banks understand not only price sensitivity, but also other customer preferences. Predictive analytics further extend the value of customer behavioral data by helping banks identify strategic customers who are under-utilizing their available credit as well as potential attrition so they can take steps to prevent it.
Matching the right offer to the right customer helps banks manage campaigns more effectively and efficiently. Using granular customer segmentation, banks can target offers more accurately, increasing take-up rates while managing costs compared to one-size-fits-all promotions. Nomis also assures that all rules and policies are assigned to optimized rates, streamlining the process of getting rates into the marketing while ensuring consistency and control.
By enhancing client experience at all customer touch points, lenders have the opportunity to become valued financial advisers instead of a commoditized service. Banks use Nomis to empower front-line representatives and digital channels with customer intelligence. Clients are presented with the products, prices, and offers that are tailored to their needs and can begin the origination process in one channel and seamlessly resume it in another. In markets with pricing discretion, Nomis delivers guidance and visibility into target rates, competing offers, and exception handling.