New York, NY—
Novantas, Inc. announces a major new release of the PriceTek Deposit platform to meet the growing demands of regulatory reporting and transparency in governing deposit portfolios. More specifically, the firm has developed a unique Vintage Analytics module, as well as enhanced reporting, which provides a set of metrics and analytics that product management, treasury, risk and finance can leverage to coordinate deposit performance management and reporting.
“In today’s market, regulatory compliance and stress testing are extremely time consuming and mission critical. Staying compliant requires deep knowledge of the deposit portfolio — past, current and future” says Pete Gilchrist, Managing Director for Novantas. “The Vintage Analytics module analyzes balance behaviors by acquisition vintage to compile decay and beta metrics at a granular level including by segment, product, tier, term, and market. This functionality aids in long term planning and stress testing, as well as calibrating interest rate risk measurement and funds transfer pricing. Additionally, with the PriceTek Deposit platform, banks have access to a wealth of information on both competitive pricing and bank performance that is incredibly valuable for regulatory filings such as stress test narratives.”
“Deposit and loan pricing platforms need to go beyond sophisticated mathematical models to help banks better link performance management and regulatory reporting demands into a single analytical technology platform” says Darryl Demos GM of Novantas Solutions. “The Vintage module for deposits is an exciting investment to meet this evolving need of the marketplace.”
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