Nomis Solutions and Icon Advisory announced today that IBERIABANK (Lafayette, LA) is leveraging their joint solution to inform decision-making about its fast-growing home equity lending portfolio. IBERIABANK will use Nomis’ Big Data analytics software together with ICON LendersBenchmark data to understand customer trends and preferences across the bank’s multi-state operations. Over the past decade, IBERIABANK has rapidly expanded banking operations from its headquarters in Louisiana to nine additional states.“
IBERIABANK is committed to its local communities by serving the financial needs of individuals, families, and businesses,” says Craig Peak, Director of Consumer Credit at IBERIA. “In order to meet client expectations across multiple states, it’s important for us to maintain a market-centric focus. The alliance between Nomis and ICON supports that focus by using state-by-state pricing decisions in addition to providing regulatory compliance.”
The collaboration between Nomis and Icon Advisory results in rich borrower insights and targeted pricing actions. ICON provides near-real-time visibility into transaction-level competitive pricing, volumes, and performance by capturing approximately two-thirds of US home equity transactions and more than half of all US mortgage transactions. By tightly integrating this critical information into Nomis’ next-generation platform, leading home equity and mortgage lenders are driving better results through more compelling pricing and offers. “It’s a one-of-a-kind solution,” comments Peak. Banks using Nomis solutions to manage home equity portfolios outperform the market by 23% in volume growth and 18% in risk-adjusted margin.
“We’ve definitely seen an increase in the strategic consumption of market data for home equity and other consumer lending products,” reports Shaun Richardson, SVP at Icon Advisory. “Home values have continued to improve, customers are feeling more confident, and lenders are ready to lend. We see our clients using market data to better understand the dynamics of each local market to more effectively compete and serve the needs of customers by specific segment.”
Nomis offers a suite of solutions that empower banks to deliver compelling pricing and offers that span the home equity customer life cycle, including promotions, originations, retention, and utilization. The solution covers the complete spectrum of your analytical pricing needs including ingesting pricing and competitor data, modeling customer behavior, defining optimal solutions, and pricing on a regular cadence. IBERIABANK will use Nomis Price Optimizer to analyze customer behavior related to home equity lending originations. “The system will allow us to track changes and see the results so that we can respond to market demands,” adds Peak. “And the references we received from existing customers give us confidence that Nomis will provide the upfront and backend support to help us be successful.”
“The Nomis team is excited to be embarking on the price optimization journey with IBERIABANK and to support Craig and his team in meeting the bank’s goals in a dynamically changing market,” comments Rutger van Faassen, VP of Lending at Nomis. “The unique combination of Nomis’ more than a decade of experience in pricing science and ICON’s leadership in delivering market insights has a proven track record of driving value for our clients.”
About Icon Advisory
ICON is the consumer lending and mortgage industry’s leader for providing near real-time competitive performance analytics for both origination and portfolio activity. ICON operates market consortiums sourced directly from lender origination and servicing platforms. This timely, specific, comprehensive, and comparable data enables ICON to deliver truly actionable insights to lenders through its turnkey BI platform. Lenders consume competitive insights specific to their performance across a broad range of core areas including sales, product management, risk, operations, competitive pricing, and portfolio management. To learn more about ICON, please visit http://www.iconadvisory.com.