The Nomis Price Manager is designed to streamline a bank’s journey to customer-level pricing, while serving as a single source of truth from which all downstream systems can access current and historic pricing from. By managing and capturing all components of pricing strategy in one centralized system, banks can begin to build-out the next level of customer-centric pricing analytics based on rapid price feedback and performance monitoring.

Pricing Strategy Management

Nomis Price Manager allows business users to augment analytically-informed Price Lists to enhance their ability to support the overall operational and portfolio goals of the bank. It facilitates the management and execution of Price Lists, as well as transaction-specific pricing rules, on an ongoing basis, as pricing strategy evolve. Various capabilities are also provided to carry out test and learn strategies that educate decision-making.

NPM Centrally Manage Execute Optimized Customer Centric Pricing

Pricing Approval

Nomis Price Manager captures pricing decisions in a scalable, auditable system. Integrated approval workflows ensure that validated Pricing Plans, and their components, can be evaluated rapidly by qualified stakeholders across the bank. Once finalized, new Pricing Plans are synced with API endpoint configurations so the prices they dictate can be seamlessly accessed by downstream systems on an on-demand basis.

NPM Pricing Approval

Price Execution

An execution timeline of Pricing Plans, where each features its own unique set of inception and expiration dates, can be managed for each collection of products that are priced in the Nomis Price Manager. Each Pricing Plan’s prices, including rates, fees, and other pricing policies, such as cash back or incentives, can be calculated on a transactional basis and distributed across channel via the NPM API. These constructs enforce price consistency across channels, and allow banks to be nimbler in refining and deploying pricing strategies.

NPM Price Execution
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What our customers say

“

We’ve been using Nomis to optimize our dealer finance rates for three years now and are pleased with the results and use.

Chuck
Head of Indirect Lending, top 10 US Bank
“

Before Nomis, our renewal contact with customers was basically regulatory-driven. Nomis helped us with a much more disciplined contact strategy. What we needed was someone to apply analytic discipline to our mortgage retention initiatives and to provide assistance on which customers were most likely to attrite so we could focus our efforts on those customers.

Lezley Chafetz
Director of Product & Program Design, Scotiabank
“

The entire Nomis team have been exceptional. Aside from their depth and breadth of knowledge, it’s quite impressive to witness their unwavering willingness to help out at a moment’s notice without hesitation, and no matter what time of day (or late evening) the request for help comes in.

Maria
Pricing Transformation Project Manager, Top 5 Canadian Bank
“

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 strategic approaches to pricing on all of these products.

Alison
Head of Retail Balance Sheet Management, top 50 EMEA Bank
“

We generated $4 million in profit improvements in our first three months of using the Nomis Price Optimizer. The solution enables us to proactively manage the dynamic and volatile lending environment with interest rate changes, competitor moves, and changing internal goals.

Tom
Vice President of Operations Analytics, US Full Spectrum Dealer Finance Company
“

Having the Nomis Price Optimizer analyze our performance at the granular pricing cell level revealed a number of operational pricing errors costing us over $1 Million per year.

Patricia
VP of Personal Lending, Top 5 Canadian Bank

Recent Insights

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Whitepaper

Customer wants and demands can change quickly. Banks that draw upon rich customer data, such as interaction history and lifecycle stage, to shift to in-the-moment pricing can optimize and personalize prices to each individual customer.

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