Grow with in-the-moment bank pricing
May 10, 2018
Dynamic pricing for each customer in the moment is rapidly becoming a matter of survival for banks in the digital economy. The old “take-it-or-leave-it” approach will increasingly fail with price-sensitive customers, and pricing strategies based solely on beating your competitor’s best offer will result in a zero-sum game. Success will come in getting moment-centric offers right.
In this report, co-authored by Accenture and Nomis, we share how retail and commercial banks can advance their pricing and offer management maturity. We draw on our real-world experience in pricing transformation to present pragmatic insights to help you succeed.
Based on our experience and analysis, in-the-moment pricing can generate a median ROI of 15X—driving up to 30 bps in incremental value annually, and a one percent improvement in price can mean a seven to ten percent increase in operating income.
Understanding both what the customer values and the customer’s value to the bank—now and in the future—is key to cracking the pricing code.
We have a data-driven way to help our clients mature to contextual, moment-centric pricing, enabling banks to maximize profits. When you choose Accenture and Nomis, you get partners who know it’s not just about being first—it’s about being trusted to get it right the first time.