Nomis Solutions today announced the launch of a new set of capabilities designed to provide front-line banking professionals with real-time sales and competitive data. With this update, retail bankers can use Nomis Deal Manager to see data about similar deals made at the bank, competitive offers, approval rates, and sales KPI performance data so they can more effectively negotiate with customers.
“We can now provide very specific information to a retail banker about the context of an offer they are making,” said Frank Bria, vice president, digital engagement at Nomis Solutions. “For example, if a customer wants a mortgage, and wants to make sure the bank’s rate is competitive with the offer they got from a competing bank, the retail banker can now check to see if that competitive offer is consistent with other competitive offers they’ve collected and see if any other customers have received that rate for similar deals. This data helps the retail banker have a conversation about what is possible and quickly close the deal. Because of the ability to make decisions in real-time within the competitive context, Nomis customers using the Deal Manager have seen a significant reduction in front-line margin leakage and increased acceptance and close rates.”
For bank leaders, Nomis Deal Manager provides unprecedented insight into the performance and lifecycle of financial services deals across their infrastructure. Managers can view branch performance, helping to identify high and low performers and compare their business unit to others. The organization receives detailed engagement data about which deals are accepted, rejected, counter-offered, waiting for approval, lost to a competitor, or closed. Nomis Deal Manager completes the loop between branches and back-end systems for loans, savings, deposits, and bundled offers revealing true branch and contact center performance.
“Data is worthless without the ability to act on it,” said Mark Heslop, VP of Products at Nomis. “With these new features from Nomis, information can flow between front-line bankers and back-end analysts, helping the entire bank be more responsive to the market and more successful serving their customers.”
In addition to the Nomis Deal Manager update, the Nomis Summer product release includes significant enhancements in the end-to-end model management process with a next-generation platform to support data extraction, data processing, data validation, model creation, model validation, and model risk management (compliance). The updated Nomis Price Optimizer platform helps banks leverage powerful, compliant and up-to-date models to further enhance their rate sheets at unprecedented speed. Combining the powerful modeling and optimization capabilities of the Price Optimizer with the front-end sales enablement of the Deal Manager provides retail banks with end-to-end pricing and offer management capability, leveraging closed-loop data flows and next-generation data science.
The Nomis Summer release is currently in beta with customers and will roll out in the US, Canada, Europe, and the Asia Pacific over the summer.