Nomis Solutions

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Nomis Solutions
Private
IndustryFinancial Technology
Founded2002
FoundersRobert L. Phillips and Simon Caufield
Headquarters
San Bruno, California
,
United States
Key people
Frank Rohde, Chairman, CEO and President, Robert L. Phillips, Co-Founder and Director, Richard Whittow, CFO and Vice President, Roger Arnemann, Senior Vice President Products and Services, Karen Beale, Senior Vice President of Sales
Number of employees
100 (2016)
Websitewww.nomissolutions.com

Nomis Solutions is a software as a service company that licenses price optimization software to banks and other financial service companies.[1][2] Founded by Robert L. Phillips and Simon Caufield in 2002, Nomis Solutions software enables financial service companies to forecast market conditions and set the prices.[1][3] The company provides big data customer analytics and modeling to retail banks in order to understand their customers for both lending and deposit products.[4][5] The company claims its customers generated over $1 billion in incremental profits.[5] In 2014, Nomis Solutions customers optimized over $1 trillion in banking transactions.[5] Nomis Solutions works with 20 of the top 100 U.S. banks.[6]

Nomis Solutions also calculates a price-sensitivity score that forecasts how different customer segments will respond to prices for different financial service products.[6][2] Nomis Solutions has worked with companies including Ford Motor Credit Company and Fifth Third Bank.[7][3]

References[edit]

  1. ^ a b Anne Kadet (May 2008). "Price profiling: Does the airline pricing system drive you crazy? Banks are dabbling with something similar—for home-loan rates. A look into the latest industry to try "optimized" pricing" (PDF). The Wall Street Journal Magazine. Retrieved June 11, 2015.
  2. ^ a b Penny Crossman (September 4, 2014). "How banks are using big data to set deposit rate". American Banker. Retrieved June 11, 2015.
  3. ^ a b Jonathan Camhi (February 2014). "Banks set the stage for customer acquisition". Bank & Systems Technology. Retrieved June 11, 2015.
  4. ^ "Fast-Growing boomerang commerce adds office depot, Sears, and Groupon as customers, makes key executive hires to fuel growth". Virtual-Strategy Magazine. May 5, 2015. Retrieved June 11, 2015.
  5. ^ a b c "Nomis Bolsters EMEA team with expert pricing executive". Global Banking & Finance Review. January 24, 2015. Retrieved June 11, 2015.
  6. ^ a b Tom Groenfeldt (December 17, 2013). "Rising interest rates could wreak havoc on bank balance sheets". Forbes. Retrieved June 11, 2015.
  7. ^ "Nomis Solutions' pricing optimization solution helps ford motor credit company tailor prices to specific markets and segments". F&I and Showroom. February 5, 2008. Retrieved June 11, 2015.