SAN BRUNO, Calif. — Nomis Solutions, a provider of profit-based pricing for banking and finance, has announced that Chrysler Financial has selected the Nomis Price Optimizer for Auto Finance. Chrysler Financial hopes to use the Optimizer to improve continuity and efficiency in each of their eight regional business centers.
"A new, collaborative pricing model enables us to take a more proactive approach and use pricing strategically to drive performance," stated Kelly Mankin, vice president of marketing at Chrysler Financial. "We chose to work with the Nomis Solutions team because of their proven track record and experience in pricing optimization as well as their solid understanding of the auto finance business."
Nomis believes that Chrysler Financial will now be better positioned to evaluate and quickly respond to changing regional market conditions in order to meet dealer and customer needs. The Nomis Price Optimizer will enable Chrysler Financial to gain margin improvements, better control the mix of their portfolios, and mitigate any additional risk through adverse selection, according to the company.
"This is a challenging time for the auto finance industry overall," said Karen Beale, vice president of sales at Nomis Solutions. "The organizations that invest in gaining additional insight into profitability drivers and adopting innovative pricing strategies will secure significant rewards both now and in the future as economic conditions improve. The Chrysler Financial team recognizes this advantage. By leveraging pricing best practices and proven technologies, they are positioning themselves to achieve sustainable financial performance improvements."