Nomis Solutions announces strategic collaboration with JD Power to provide financial institutions with enhanced pricing strategies in automotive finance
SAN FRANCISCO, California, November 11, 2021 (SEND2PRESS NEWSWIRE) – Nomis solutions (Nomis), a global, industry-leading provider of price and profitability management solutions, announced that it has a strategic partnership with JD Power, a global leader in data analytics and consumer intelligence to provide financial institutions in the United States and Canada with improved pricing for automotive finance. Through this alliance, participating financial institutions will be able to leverage JD Power PIN Navigator’s extensive automotive finance data in conjunction with the sophisticated Nomis Price Optimizer platform to further refine their automotive finance pricing strategies and improve their market position relative to competitors.
“Given the volatile sales environment combined with expectations of rising interest rates, the ability of banks, captives, credit unions and independents to provide accurate and competitive auto finance offers while maintaining profitability has never been more important,” Frank said Rohde, CEO of Nomis Solutions. âNomis Price Optimizer will help you with this. Combined with JD Power’s extensive auto finance dataset, this strategic collaboration enables our companies to provide even more visibility into real-time frontline price insights and actionable recommendations for today’s highly competitive auto loan market. “
JD Power PIN Navigator collects retail transactions and electronic point-of-sale data from franchise dealerships nationwide. The product is designed to support the needs of the sales, marketing, pricing, risk and insurance departments of automotive financiers. PIN Navigator gives lenders 24/7 access to the most current data available in the market and includes more than 70 contract, dealer and lender variables, all updated daily. Working with Nomis Price Optimizer, users get instant, accurate insight into auto finance deals taking place in the US and their desired competitive markets. This data is used to provide actionable recommendations with specific details for dealer sales, from vehicle to credit details. With information from the past 72 hours, lenders can spot emerging trends and make real-time pricing decisions.
“Nomis’ early collaboration with selected JD Power customers gave us firsthand experience of how powerful Nomis modeling is and how our real-time data can work together for the benefit of customers,” said Mike Buckingham, Managing Director of PIN Auto Finance at JD Power. “We expect numerous benefits for all auto lenders and the industry as a whole from this collaboration.”
The Nomis Price Optimizer is used nationwide by leading auto finance institutions and creates a central hub for credit price information, portfolio analysis, and interest rate optimization and planning tools that enable leading financial institutions to make precise, strategic price decisions in their competitive markets. The platform’s intuitive optimization and forecasting module enables retail banks, lenders and credit unions to create world-class analytics tailored to the unique needs and nuances of both indirect and direct auto finance product lines. Nomis Price Optimizer is the only tool of its kind configured with price sensitive demand, behavior and profitability modeling and powered by credit transaction, balance, customer and competitor data for double digit profitability and volume improvements.
Contact Nomis Solutions for more information on Nomis Price Optimizer or to learn more about this strategic collaboration with JD Power.
About Nomis Solutions
Nomis Solutions is a global, industry-leading provider of price and profitability management solutions, providing competitive intelligence to bankers and mortgage lenders to enable more advanced pricing strategies. The company’s analytics platform and end-to-end pricing tools enable retail banks and mortgage lenders to achieve customer and borrower-centric pricing backed by actionable real-time data. The platform also helps banks and mortgage lenders understand and anticipate the changing needs of customers and borrowers, competitors, and ever-changing market conditions. For more information, please visit www.nomissolutions.com.
About JD Power
JD Power is a global leader in data and analytics, advisory services, and consumer information. As a pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling functions to understand consumer behavior, JD Power has provided concise industry information on customer interactions with brands and products for more than 50 years. The world’s leading companies in all major industries rely on JD Power for their customer-centric strategies.
JD Power has offices in North America, Europe and the Asia Pacific region. To learn more about the company’s business offerings, visit JDPower.com/business.
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News source: Nomis solutions