A financial technology (fintech) software firm from the US hopes to boost Australian home mortgages with its real-time data and analytics functionality, a recent report said.
The company, Nomis, introduced its Deal Manager to the domestic market to help banks and financial institutions “protect margins while minimising revenue leakage.”
Frank Bria, Nomis Solutions vice president of digital engagement, said that the solution can improve mortgage deal making.
According to him, “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.
“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.”