Using Customer Analytics to Meet and Exceed Deposit Portfolio Goals

Nomis Solutions today announced that Brian Buckingham, VP of US Services at Nomis, and Oliver Small, Senior Manager of Deposit Performance Optimization at Tangerine, will be presenting a case study on “Leveraging Customer Analytics to Exceed Deposit Portfolio Goals,” at Banking Analytics 2016, a two-day symposium on big data and analytics to be held at the New Orleans Marriott in New Orleans, LA on Oct. 20 -21, 2016. 

The case study presentation will begin at 11:00 am on Oct. 21, 2016, and highlight the unique partnership between Tangerine, Canada’s largest direct bank, and Nomis Solutions, a pioneer in the field of bank price optimization software, to apply leading-edge analytics and data to reduce deposit churn, support growth, enhance the customer experience and effectively manage a highly competitive environment.

Similar to the US market, it has been a challenging environment for deposit portfolio management in Canada, where there has been a prolonged period of low-interest rates, high household debt, and aggressive competitive pricing. Mass-market rate promotional campaigns that previously delivered strong results were becoming less effective over time as a driver of customer engagement, and instead were incentivizing short-term rate-seeking behaviors that contributed to portfolio volatility.

“There were strategic challenges with continuously running mass-market rate promotions,” said Oliver Small, Senior Manager of Deposit Performance Optimization at Tangerine. “We recognized the need to leverage data analytics to improve campaign effectiveness by providing unique, relevant offers to specific Clients.”

Buckingham and Small will share best practices on leveraging data and analytics to understand client behavior and to identify the right price for the right client at the right time.

“We have massive amounts of data at our fingertips in the deposits business,” said Brian Buckingham, VP of US Services at Nomis Solutions. “Knowing what to look for and how to use it requires carefully considering the business problems to be solved, and developing a clear plan to achieve goals. Tangerine provides a great example of how to think holistically about the business while developing an analytic solution that provides real value.”

Small will also discuss the critical role played by Tangerine’s guiding principles, which required that the bank’s pricing strategy meet the dual goals of enhancing both the client experience and long-term deposit portfolio value.

About Banking Analytics 2016

Banking Analytics 2016 is a symposium presented by American Banker, the leading information resource serving the banking and financial services community.

The two-day symposium will take a deep dive into the challenges and opportunities of how analytic tools and data are combined to drive customer profitability and credit & risk management.

About Tangerine

Tangerine is a direct bank that delivers simplified everyday banking to Canadians. With nearly 2 million Clients and close to $38 billion in total assets, Tangerine is Canada’s leading direct bank. Tangerine offers banking that is flexible and accessible, products and services that are innovative, fair fees, and award-winning Client service. From no-fee daily chequing to high-interest savings accounts, GICs, RSPs, TFSAs, mortgages, a Credit Card, and mutual funds through its subsidiary, Tangerine Investment Funds Ltd., Tangerine has the everyday banking products Canadians need. With over 1,000 employees in Canada, Tangerine’s presence extends beyond its website and Mobile Banking app to Café locations, Pop-Up locations, Kiosks, and 24/7 Contact Centres. Tangerine was launched as ING DIRECT Canada in 1997. In 2012 it was acquired by Scotiabank and operates independently as a wholly-owned subsidiary. For more information, visit