SAN FRANCISCO, Calif. – Nomis Solutions (Nomis), a global pricing and profitability management solutions provider, announced it has formed a strategic collaboration with J.D. Power, a global leader in data analytics and consumer intelligence, to deliver enhanced automotive financing price optimization to financial institutions throughout the United States and Canada. Through this alliance, participating financial institutions can leverage the comprehensive automotive finance data from J.D. Power PIN Navigator in conjunction with the sophisticated Nomis Price Optimizer platform to further refine their automotive finance pricing strategies and improve their market position relative to competitors.

“Given the volatile sales environment, combined with an expectation of rising interest rates, the ability for banks, captives, credit unions, and independents to make accurate and competitive auto financing offers, while simultaneously maintaining profitability, has never been more critical than it is now,” explained Frank Rohde, CEO of Nomis Solutions. “Nomis Price Optimizer helps them do just that. Now paired with J.D. Power’s extensive auto finance dataset, this strategic collaboration positions our organizations to provide even further transparency into real-time, frontline pricing insights and actionable recommendations for today’s highly competitive auto lending market.” 

J.D. Power PIN Navigator collects retail transaction and electronic point-of-sale data from franchised automotive dealerships nationwide. The product is designed to support the needs of the sales, marketing, pricing, risk, and insurance departments of automotive finance lenders. PIN Navigator provides lenders with 24/7 access to the timeliest data available in the market and includes more than 70 contract, dealer, and lender variables—all of which are updated daily. Working in tandem with Nomis Price Optimizer, users gain access to instantaneous, accurate insights into auto finance deals taking place across the U.S. and within their desired competitive markets. This data is harnessed to provide actionable recommendations with specific detail into dealership sales, from the vehicle to loan details. With information as recent as the last 72 hours, lenders can identify emerging trends and make pricing decisions in real time. 

“Having Nomis engage with select J.D. Power clients early on, we have seen first-hand how powerful the Nomis modeling is and how our real-time data can work together to benefit clients,” said Mike Buckingham, managing director of PIN Auto Finance at J.D. Power. “We expect this collaboration to reap numerous benefits for all auto lenders and the industry as a whole.”

Leveraged by leading auto finance institutions nationwide, Nomis Price Optimizer creates a centralized hub for loan pricing intelligence, portfolio analytics, and rate optimization and planning tools, enabling leading financial institutions to make precise, strategic pricing decisions across their competitive markets. Using the platform’s intuitive optimization and forecasting engine, retail banks, lenders, and credit unions can create best-in-class analytics tailored to the unique needs and nuances of both indirect and direct auto finance product lines. Nomis Price Optimizer is the only tool of its kind that is configured with price-sensitive demand, behavioral, and profitability modeling and fueled by loan transaction, balance, customer, and competitor data to drive double-digit profitability and volume improvements.

About the author