Novantas, Inc. announces a set of major enhancements to the PriceTek® Loans platform that improve lenders’ ability to precisely manage rates and compete for targeted loan volume and profit across home equity, auto, mortgage, and unsecured lending portfolios. A new Portfolio Analytics Module and enhanced Rate Management functionality allow lenders to design and deploy campaigns with ease. Plus, a dynamic Performance Dashboard module pinpoints actual customer reactions to product and price offerings by segment and region, enabling lenders to increase speed of response times in a growing, competitive landscape.
“Pricing is not just a math problem,” says Kim Muhota, Solutions Director of Consumer Credit for Novantas. “You can make significantly better decisions on price and product when you can access detailed, granular analytics in close to real time. This suite of enhancements simplifies banks’ ability to test and monitor key acquisition performance across time and pricing dimensions. Lenders can leverage insights to quickly modify their go-to-market strategy and test new pricing schemes.”
The flexibility and granularity of Portfolio Analytics and Rate Management is enhanced by the Performance Dashboard module — an intuitive summary view of portfolio outcomes. In the dashboard, analysts can quickly identify troubling metrics and drill down to assess performance on a more granular level and guide on-the-fly adjustments to keep portfolios in line with strategic business objectives.
“Our price optimization enhancements reflect our brand belief that increasingly sophisticated models are only as good as the ability of an organization to operationalize the results,” says Darryl Demos, General Manager of Novantas Solutions. “Our expertise in customer science, as well as our deep understanding of the strategic and tactical realities of our lending leaders, will continue to influence our PriceTek road map. This latest PriceTek Loans release demonstrates the power of integrating science and usability in price optimization technologies.”
Novantas, Inc. is the leader in customer science and revenue management strategy for the financial industries. A FinTech 100 Company, its Advisory Services, Analytical Solutions, Data, Research and Marketing Services specialize in investigating and interpreting customer needs, attitudes, and behaviors to help banks refine pricing, marketing decisions, customer strategies, and sales and service activities, and to accelerate their immediate and ongoing economic performance. Novantas’s PriceTek® Optimization system is installed in more banks than all other competitors combined. For more information, visit www.novantas.com.
Senior Marketing Associate