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October 20, 2008 ( PowerHomeBiz
) - Toronto, Canada --
It is no secret that this is an unsettling period for lenders. During these
challenging times there is both a need and an opportunity for lenders to
examine their current lending strategies and loan portfolios. The classic
response of many banks in the face of an unprecedented situation is to
adjust their underwriting policies. However, banks should also be using
their loan pricing to attract profitable customers, deter less profitable
customers, and manage their overall portfolio risk.
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Unfortunately, current pricing practices at banks suffer from a number of
shortcomings and it can be difficult to effectively manage pricing. To
illustrate, the lending portfolios at several different banks in North
America and the UK, only about 20% of loans are properly priced. About 40%
percent of rates are too high, and 40% are too low, largely because the
effect of price on consumer response is poorly understood (Nomis Solutions
pricing research).
Christopher May, as the Senior Product Manager at Nomis Solutions, is
responsible for the product planning and execution of the Nomis Price
Optimizer (NPO), an award-winning software application that has been
deployed at over 10 large financial services firms. In this role, he works
closely with clients to develop pricing solutions that materially improve
financial and operational performance throughout the customer acquisition
and loan portfolio management processes.
May has helped financial service institutions strategically use pricing
to improve financial results, gain insight into the impact of the market,
and execute a more disciplined and efficient pricing process. May’s previous
product development management experience includes his tenure at PriceMetrix
Inc., a provider of productivity management solutions for the wealth
management industry. He also worked at Accenture, a global management
consulting, technology services and outsourcing company. May holds a BS in
engineering from Queen’s University in Ontario, Canada.
2008 Financial Services Technology Forum The 2008 Financial Services
Technology Forum focuses on new, cutting-edge enterprise applications and
solutions that are sustainable, flexible, and increase profitability. This
year's event features over 30 interactive expositions and 20 engaging
conference sessions presented to all corporate users, from service providers
to small, medium and large businesses alike.
To receive complimentary all-access passes to attend this event, please
register online at http://e-financial.wowgao.com/registration/multiple or
call 1-416-292-0038 ext. 812
For more information:
Registration
http://e-financial.wowgao.com/registration/multiple
Agenda
http://e-financial.wowgao.com/agenda
Sponsors
http://e-financial.wowgao.com/exhibitorlist
Accommodation
http://e-financial.wowgao.com/accommodation
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