As the banking conference season kicks into high gear, one conference continues to challenge conventional wisdom. At Nomis Forum 2014, academics, policymakers, data scientists, and bankers all come together to explore the present and future of scientific decision-making in pricing for financial services. The seventh annual Nomis Forum is being held May 28-29 in Half Moon Bay, California. The event brings together a diverse group of thought leaders in an intimate setting to explore theory and practice in the near, medium, and long term.
“Our theme this year is Understand Your Customers and Everyone Profits,” said Nomis CEO Frank Rohde. “That seemingly simple statement cuts very deep and wide for the banking industry. It is our belief that all stakeholders—including customers—benefit when banks are better informed about a customer’s demand-drivers as part of their product and pricing processes.”
Stephan Meier, Associate Professor at Columbia Business School, kicks off the discussion by investigating the impact of psychology and economics on financial decision-making and its implications. Mr. Meier has served as a senior economist at the Federal Reserve Bank of Boston and his insights have been profiled by The Economist, Wall Street Journal, Financial Times, and the New York Times.
David Hornik, 2013’s Silicon Valley Venture Capitalist of the Year and Nomis Solutions board member, whose affiliations and investments include Splunk, LiveOps, and Bill.com, will share why he is bullish on big data in banking and why “Big Data is Changing Everything”.
Dr. Robert L. Phillips, Professor of Professional Practice, Columbia Business School and Founder, Nomis Solutions, will address “Customer Intimacy in the Era of Big Data” as he explores technologies such as recommendation engines (used by Pandora and Netflix, among others), and how they will come to impact financial services.
The rest of the conference concentrates on best-practice presentations, peer sharing, and networking as thought leaders, banking executives, and practice professionals engage in meaningful discussions to help each other develop successful strategies to navigate a world of increasingly complex customer relationships. The event features two days of case studies, presentations, and panel discussions from leading banks and financial services companies from across the globe. These include a leading Canadian bank, a large UK Financial Services organization, a large US regional bank, and one of the largest South African banks. Forum participants will engage, interact, and discuss the key advantages, benefits, and challenges that financial services institutions face when moving towards pricing approaches based on customer value.
In addition to pre-conference workshops and specific breakout tracks, one highlight will be free-form discussions modeled on Mr. Hornik’s Lobby “un-conference.” The sessions seek to maximize open conversation and nurture long-term relationships in a relaxed format.