Celent Highlights Nomis Solutions' Advanced Price Optimization and Offer Management Platform in New Solution Brief

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Jul 09, 2024, 09:45 ET

SOUTH SAN FRANCISCO, Calif., July 9, 2024 /PRNewswire/ -- Following a significant period of solution expansion at Nomis Solutions ("Nomis"), Celent has published a comprehensive solution brief highlighting the significance of integrating price optimization with offer and deal management. This strategic combination empowers financial institutions to craft and execute optimal pricing strategies, enhancing their competitive edge in a rapidly evolving market.

Celent's analysis situates this development within the broader industry context, where historically low interest rates have driven banks to compete primarily on price in the lending space. However, the recent rise in interest rates has shifted the focus towards the pressing issue of deposit acquisition and retention. As banks adapt to this new reality, the need for robust price optimization capabilities has never been greater.

For over 20 years, Nomis has been at the forefront of the price optimization sector, consistently innovating to meet the needs of financial institutions. Our expanded suite of solutions now spans the entire financial lifecycle, encompassing price optimization, price and offer management, and deal management. While our offerings cater to both lending and deposits, the current industry focus on deposits has driven rapid expansion of our deposit analytics and optimization capabilities. Celent's brief underscores this trend, noting, "…in the short term, interest in new price optimization capabilities is likely to be strongest on the deposits side of the business, where investment in analytics capabilities is generally much weaker for many institutions, given the prolonged period of ultra-low interest rates. Nomis does offer a particularly interesting solution here, offering relatively ready-to-go flow-of-funds and optimization capabilities."

This intensified focus on deposits has also influenced our recent strategic decision to appoint Wes West as Nomis' new Chief Analytics Officer. An industry expert in analytics and modeling for financial institutions, Wes has been instrumental in enhancing our deposits offering, reinforcing Nomis' position as a leader in the field.

As we continue to innovate and expand our solutions, Nomis remains committed to empowering financial institutions with the tools they need to navigate an increasingly complex landscape. For more information about our latest offerings and insights, visit our website at nomissolutions.com.

About Nomis Solutions

For over 20 years, Nomis has been dedicated to improving the science and execution of pricing. Our mission underpins our focus in this space: to help banks, credit unions, and lenders differentiate and grow their brands by developing relationships with customers that are both personalized and profitable. We offer a comprehensive set of solutions for setting, managing, and executing price to meet each financial institution where they are in their price management journey.

About Celent Solution Briefs

Celent is the leading research and advisory firm focused on technology for financial institutions globally. A Solution Brief is a Celent Insight that provides Celent research clients with timely updates on vendor/fintech solutions and strategies. The decision to write a Solution Brief is at the Analyst's discretion and does not require the vendor to be a client or to pay any fees for Celent to write the Solution Brief Report.

SOURCE Nomis Solutions Inc