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Need Three Reasons to Consider Pricing Technology Leader Nomis Solutions? Here’s What IDC’s MarketScape Has to Say.

Retail Banking, Price Optimization | Mar 1, 2022
Need Three Reasons to Consider Pricing Technology Leader Nomis Solutions? Here’s What IDC’s MarketScape Has to Say.

In every industry, there are recognitions and awards that telegraph excellence, and over the years, some have become very well-known outside of their industry as well. For example, you don’t have to be a chef to understand that most restaurants covet a Michelin Star. In pricing technology, the International Data Corporation (IDC) (a top 3 global analyst firm) and its MarketScape report is the Michelin guide.

Completed every two years, the IDC MarketScape for Price Optimization and Management (PO&M) Applications uses rigorous, unbiased criteria including capability deep-dives, real-world results and most importantly – customer interviews – to score and rank the participants across industries.

We are thrilled to announce for the second time, that IDC has recognized Nomis Solutions as a leader in the PO&M category. Of the nine firms evaluated in this study, Nomis Solutions was the only provider recognized as a Leader in the banking/financial services industry.

So why is this important?

With rising interest rates, heightened competition and a volatile market, banks and lenders are looking for data-driven pricing technology that lets them win and grow customer relationships profitably. And a proven partner is key to that journey.

Companies and technologies receiving the IDC MarketScape recognition are acknowledged as proven leaders in their field and industry. Most recently Nomis was recognized for its pricing agility, channel management and customer support. These strengths are significantly weighted by feedback from Nomis customers and include the following highlights:

Pricing Agility

Per IDC’s evaluation, customers highly rated Nomis’ ability to pull together competitor, client behavior and finance data, and predict outcomes allowing them to optimize and execute prices in multiple markets in a fraction of the time with greater accuracy. New customers could rapidly get up to speed and manage pricing in accordance with their corporate strategy. The benefit of having a solution with strong governance was also a major benefit as it minimizes operational, regulatory and reputational risks.

Nomis customers have been able to generate 10-25 bps in value through their adoption of the platform. But the agility to rapidly react to changing market conditions is an even greater strategic benefit.

Omni-channel Management

Nomis customers also valued their ability to use the platform to manage pricing and offers across direct-to-consumer digital channels, banker or advisor assisted ones as well as indirect channels via auto dealers and mortgage brokers.

We believe this omni-channel capability will be increasingly critical as banks and lenders accelerate digital adoption while adopting hybrid business models.

One major bank in APAC leveraged the Nomis platform’s APIs to design a seamless hand-off of customer opportunities and pricing conversations from a digital channel to an on-demand, advisor-assisted one, giving their clients the flexibility to seek trusted human advice when they needed it without any loss of context.

Customer Support & Innovation

Customers were very happy with the quality and response time of a dedicated product service team and its ability to provide feedback and help influence product direction and innovation.

We obsess over our customer’s success and believe that service levels are just as important as the software itself, making IDC’s validation in that regard even more gratifying.

Visit the IDC MarketScape website for more information on their approach.

If you are currently searching for an end-to-end pricing intelligence, analytics and execution solution, contact Nomis today to learn more about our platform strategy, range of services, and innovative mindset that our customers rely on today to make more informed and actionable pricing decisions.