Solution Standouts
Use expertly crafted price-response models to optimize pricing strategies considering the price sensitivity of your customer segments and the impact of competition
Leverage flexibility within the optimization software to enable business, product, and pricing teams to apply pricing constraint overlays, representative of your unique business needs and management objectives
Benefit from as-needed deposit optimization consulting services from a seasoned team of industry experts
Business Impact
- Ensure your deposit pricing strategy is meticulously optimized to achieve your desired business outcomes, considering the micro and macro trends that impact your organization.
- Increase forecasting accuracy by using data models informed by customer behavior.
- Retain and expand relationships with your most valued customer segments by balancing volume and Net Interest Margin objectives in tandem.
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CHALLENGE
A top 10 North American bank struggled to grow their deposits portfolio due to limited price differentiation and inadequate forecasting of rate change impact on portfolio balances.
SOLUTION
The bank aimed to proactively address market changes and competition through a data-informed deposit pricing strategy, while streamlining internal processes. By leveraging Deposit Optimization through Nomis Price Optimizer, they gained comprehensive analytics to better understand the price sensitivities of their customer base. The bank developed analytical models to enhance pricing granularity, enabling region-based pricing that enabled them to more effectively compete. Additionally, they utilized constraint-based price optimization to enhance performance prediction and develop firm-specific models aligned with profit and growth objectives.
OUTCOMES
Increased insights into the price response characteristics of their customers
More competitive, regionalized pricing within the market
Increased forecasting accuracy across volume and profit