Nomis Solutions announced today a new customer relationship with Tangerine, an innovative direct bank that started as ING Direct and was officially renamed Tangerine after it was purchased by Scotiabank in 2014.
Focused on delivering an enhanced everyday banking experience that would allow Canadians to bank on their own terms, Tangerine was looking for a way to responsibly grow its deposits portfolio.
After extensive research and evaluation of several strategic alternatives to support its vision, Tangerine selected Nomis Solutions.
Nomis Solutions, the leader in pricing and profitability management solutions for banks, provides SaaS solutions, thought leadership, and consultation to help banks responsibly assess their portfolios and price loans, mortgages, and deposits based on customer preferences and behaviour, segment risk, economic factors, retail banking regulations, and bank policies.
This long-term partnership will enable Tangerine to build new customer engagement models that will deepen customer relationships and enhance their innovative and simplified banking experience across product lines.
"Times have changed for the banking industry. The days of one-size-fits-all products are over and customers now expect innovative and cutting-edge solutions that simplify banking," said Silvio Stroescu, Managing Director of Deposits and Investments at Tangerine. "Nomis' approach to understanding customer preferences and behaviour, and their software capabilities in translating that into actionable pricing and product propositions, is what appeals to us."
"We don't look for vendors—we only want strategic partners, and we select them much the same way that we select our employees. Our partners have to be visionaries and forward thinkers who are willing to challenge us to help us stay ahead of the curve," Stroescu added.
Stroescu is part of a new wave of visionary leaders in banking who have recognized the impact that big data and deep analytics play in truly understanding customers and their needs, which results in a better everyday banking experience and more innovative products to better serve client preferences.
Frank Rohde, President and CEO of Nomis, added: "Nomis actively seeks out customers who stand out from the competition and who are willing to challenge the status quo and genuinely improve the industry through responsible growth. We are delighted to be in this strategic partnership with an innovative bank like Tangerine."
"Our solution will help Tangerine harness real customer data to optimize their portfolio for profitability all while delivering responsible, fair pricing in each customer segment."