Initial UK offerings include world’s leading pricing and product management platform, PriceTek® Deposits
Novantas, a leading financial services analytic advisory and solutions firm, is pleased to announce that it is launching regulatory stress testing and deposit pricing services and technology for the UK banking sector.
Novantas has leveraged its extensive deposit knowledge to support the banking sector’s transition to comply with the latest regulatory requirements around stress testing. Over the last four years Novantas has been assisting the largest US banks in their transition to Pre-Provision Net Revenue (PPNR) modelling as mandated by the US Federal Reserve. As the UK’s Prudential Regulatory Authority (PRA) now expects UK banks to move towards this model, Novantas will provide the expertise and experience to support them in complying with the latest stress testing regulatory requirements.
Novantas is also the leading deposit analytics and pricing provider in the United States with a unique approach that provides solutions informed by, and complementary to, expert advisory service. The organisation currently works with more than 30 of the largest banks in America, Canada, Australia, and Europe to provide pricing advisory support and interactive analytics for ongoing portfolio enhancements and price optimization through its PriceTek platform. PriceTek is the world’s premier deposit pricing and product management technology platform, managing over $1 trillion in bank deposits (as of December 2014) around the globe — more than all others in the marketplace combined.
Andrew Frisbie, Managing Director, Novantas said: “Novantas has worked with many banks based in the UK in the last decade and we feel the time is right to enter the market more formally.
“It is clear that UK banks are playing catch-up with the US in many ways, certainly in stress testing requirements. Stress testing is at the top of the PRA’s agenda and UK banks need to realise that and make the wholesale system changes necessary to keep up with regulatory requirements. We are excited to bring our global experience in this space to assist UK banks through an important period of transition in the coming years.”
Novantas is the industry leader in analytic advisory services and technology solutions for financial institutions. The firm creates superior value for clients through deep and insightful analysis of the information that drives the financial services industry across pricing and product, treasury and risk management, distribution, marketing, as well as sales management.
Novantas Solutions embeds the strategic insight of our advisory teams in easy-to-use platforms, applying advanced analytic techniques to improve performance, optimize pricing, grow revenue and manage risk. PriceTek® — our flagship product — provides sophisticated modeling tools and leading edge decision support for the full range of deposit and credit products.
For more information, visit www.novantas.co.uk or www.novantas.com.
Christina Bridge, Cicero Group
+44 (0) 20 7947 5317
+44 (0) 7900 242 823
Katie Davis, Novantas
Senior Marketing Associate