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New software helps lenders negotiate real-time deals

US-based fintech software company Nomis has broken into the Australian market with a new software product that aims to help lenders monitor real-time data and analytics, such as deals history, competitive offers, and approval rates. 

Nomis Deal Manager, a configurable cloud-based pricing and negotiation solution, has been launched to help banks and financial institutions “protect margins while minimising revenue leakage”.

For example, retail bankers can use the platform to see data about similar deals, competitive offers, approval rates and sales KPI performance data to “more effectively negotiate with their customers”.

Frank Bria, vice president of digital engagement at Nomis Solutions, said that the offering can help with mortgage deals.

He explained: “If a customer wants a mortgage, and wants to make sure the bank’s rate is competitive with the offer they got from a competing bank, the retail banker can now check to see if that competitive offer is consistent with other competitive offers they’ve collected, and see if any other customers have received that rate for similar deals.

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“This data helps the retail banker have a conversation about what is possible and quickly close the deal. Because of the ability to make decisions in real-time within the competitive context, Nomis customers using the Deal Manager have seen a significant reduction in front-line margin leakage and increased acceptance and close rates.”

 [Related: Lenders to offer same-day mortgages]

New software helps lenders negotiate real-time deals
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