Program Leverages Largest Deposit Optimization Customer Base in North America
Novantas is pleased to announce the launch of Comparative Deposit Analytics (CDA), an information service built upon its Deposit Optimization Technology Platform. CDA information is formulated from account level datasets, leveraging extensive deposit and customer behavior history, along with continuous weekly updates, to provide detailed customer-focused insights for banks. The source, timing, and depth of data are unprecedented and otherwise unavailable in today’s market. Our pilot clients have told us that CDA supports a level of precision and speed for critical operational decisions that was previously unachievable.
The program has been in a pilot phase with selected banks who subscribe to Novantas’ Deposit Optimization Technology platform, a hosted product management and optimization solution. The success of the initial stage has proved the value of CDA information, and Novantas is now advancing to large-scale production, expanding the metrics tracked, and aggregating data across a larger group of banks.
“In the face of rising uncertainty and increased focus on Consumer Deposits, Novantas clients wanted continuous access to an expanded, more detailed and timely source of truly comparative information for better product management, treasury, and marketing analytics. The response to the pilot was overwhelming and we are excited to continue to expand the program,” says Andrew Frisbie, Managing Director and Head of Novantas’ Pricing and Product Management Advisory Group.
CDA leverages the Novantas Deposit Optimization Platform, the industry’s most advanced and widely installed deposit management solution. “Providing this type of invaluable industry and peer comparisons has been a constant request by our clients” said Jeff Nobel, Deposit Optimization Product Manager at Novantas. “After several years of 100% renewals, sustained 40% growth, more major installations than all other competitors combined, and more than $1.2 trillion in deposits tracked daily, we’ve reached critical mass to synthesize anonymized group comparisons. No other vendor has the capability to provide these data, and we’re excited to help our clients improve profitability and growth.”
“CDA represents the core value of being an integrated solutions provider. Novantas expert advisors work with industry leaders to identify mission critical, unfulfilled needs and our solutions teams leverage a highly scalable technology platform to deliver innovations that are leading edge, yet practical and immediately productive,” said Darryl Demos, GM of Novantas Solutions. “Novantas is committed to improving the confidence of bank executive decision making through the power of integrating industry expertise with advanced technologies.”
About Novantas, Inc.
Novantas is the industry leader in analytic advisory services and technology solutions for banks. We create superior value for our clients through deep and insightful analysis of the information that drives the financial services industry — across pricing, product development, treasury and risk management, distribution, marketing, and sales management. Novantas technology solutions embed strategic insight from our advisory services into easy-to-use platforms, applying advanced analytic techniques to improve pricing, monitor and manage performance, and grow revenue.
Marketing Communications Manager