Why Banks Need to Immediately Fix their Pricing Process
Authored by Frank Rohde, Chief Marketing Officer and Managing Director of Europe at Nomis Solutions
This executive whitepaper illuminates the key pricing and process problems faced by most banks. It also provides guidance on how to leverage customer response and better manage through a dynamic market.
"In a recent survey of pricing managers across the top 30 banks and finance companies in the US and Canada, 90% admitted that their pricing process was in dire need of improvement. Most banks still manage their pricing strategy with Excel spreadsheets. The lack of focus on pricing is surprising. These shortcomings result in profit and volume losses on the order of 10-20%."
This Whitepaper focuses on:
- The pricing proces and how it is fundamentally broken
- Typical pricing processes in large US Banks
- How pricing processes were the root cause of the credit crisis
- How pricing optimization enables pricing to be leveraged as a strategic driver of performance
