For more than 130 years, IBERIABANK has remained focused on the needs of clients by providing them with comprehensive financial services to meet their financial needs. As the Company continues to grow and operate in a changing environment better data and more precision around pricing has become more important.
“As we continued to grow our footprint, it was becoming crucial for us to analyze our client segments and markets at a more granular level and make more consistent, timely portfolio pricing decisions,” commented Becky Spinnato, Senior Vice President, Director of Deposit and Product Management at IBERIABANK.
“We had outgrown the one-size-fits-all approach to pricing,” added Carol DiPlacido, Senior Vice President, Assistant Treasurer at IBERIABANK.
With those goals in mind, IBERIABANK set out to find a tool to enhance their deposit analytic toolkit. After a comprehensive evaluation of the software vendors offering these systems, PriceTek® stood out from the crowd as the clear choice.
“PriceTek was the superior solution,” stated Lena Zaitseva McCloskey, Vice President, Deposit and Consumer Loans Pricing and Analytics at IBERIABANK. “It was very intuitive and easy-to-use, and it also allowed for tracking the performance of deposits, the broader competitive landscape, and then running pricing scenarios in one place.”
Importantly, selecting PriceTek also meant the start of a relationship — not just a transactional software delivery. The Bank would have ongoing access to a team of industry experts in deposits and the services would be provided by a dedicated support team with both technical and industry knowledge. Plus, Novantas demonstrated that there was a clear and compelling roadmap of future capabilities that IBERIABANK would have the opportunity to leverage.
“When we were choosing PriceTek, we were not only choosing the tool, we were choosing the vendor and the expertise,” noted Spinnato. “The Novantas support staff is expertly trained, and they understand both the solution and our data very well.”
IBERIABANK Corporation is a financial holding company with locations in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services.
Novantas, Inc. is the leader in customer science and revenue management programs for the financial industries. A FinTech 100 Company, the company’s advisory and solution services specialize in investigating and interpreting customer needs, attitudes, and behaviors, to help financial institutions refine pricing, distribution, marketing, customer strategies, and sales and service activities. Novantas’ PriceTek® is the leading deposit management platform around the globe supported by a Big Data Scenario Optimization Engine that was a Top-5 finalist in Cloudera’s Data Impact Awards (2018, 2017). For more information, visit www.novantas.com.