Nomis Solutions is a software as a service company that licenses price optimization software to banks and other financial service companies. 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. The company provides big data customer analytics and modeling to retail banks in order to understand their customers for both lending and deposit products. The company claims its customers generated over $1 billion in incremental profits. In 2014, Nomis Solutions customers optimized over $1 trillion in banking transactions. Nomis Solutions works with 20 of the top 100 U.S. banks.
Nomis Solutions also calculates a price-sensitivity score that forecasts how different customer segments will respond to prices for different financial service products. Nomis Solutions has worked with companies including Ford Motor Credit Company and Fifth Third Bank.
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Source of the article : Wikipedia
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