San Bruno, Calif. Nomis Solutions has announced that RBC has deployed 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 selected Nomis to help build upon its pricing practices and better tailor offers to customer segments, according to the manufacturer.
Pricing optimization technology provides a better understanding of how pricing impacts product performance across the portfolio. The Nomis Price Optimizer is designed to quantify customer preferences for products in various market segments and identify opportunities to price more effectively. By using the Nomis Price Optimizer, RBC hopes to gain insights regarding 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 provide better execute on their customer-centric approach and to quickly identify opportunities to grow their business.”