Source: Nomis Solutions
Nomis Solutions, the leader in pricing optimization for banking and finance, today announced that RBC (RY on TSX and NYSE), has deployed Nomis Solutions' pricing optimization technology, the Nomis Price Optimizer 3.3 across its personal lending business.
RBC, which is the master brand name of Royal Bank of Canada, is Canada's largest bank and one of North America's leading diversified financial services companies. RBC has recently deployed Nomis Price Optimizer across its personal lending business allowing RBC to build upon its industry leading pricing practices and better tailor offers to customer segments.
Pricing optimization technology provides a better understanding of how pricing impacts product performance across the portfolio. The Nomis Price Optimizer is designed to deliver the right solution to meet customer needs by quantifying customer preferences for products in various market segments and identifying opportunities to price more effectively. By using the Nomis Price Optimizer, RBC gains insights about segmentation approaches including opportunities to add a new dimension to pricing structures.
Nomis Solutions' Chief Marketing Officer and Vice President of Product Management,
Frank Rohde, stated, "RBC will use the Nomis Price Optimizer across multiple lines of business, to better execute on their customer-centric approach and to quickly identify opportunities to grow their business."