"Mis-pricing leads to misallocation of resources and wastes in the system. In the current situation, mis-pricing has lead to cataclysmic results.
But, businesses that are going to make it and breakthrough to the other side are giong to have to use analytics to really understand their customers in a way that is beyond what they are doing today.
We are doing it at Cerberus because we know it is critical to success."
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"Bank executives are under immense pressure in today’s environment and pricing is one of the key levers they can pull in order to immediately impact financial performance."
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"The banking crisis and potential changes in the capital markets will force banks to get back to the basics, which includes gathering deposits and making loans. In both deposits and lending, this boils down to two fundamental questions where pricing and profitability analytics are going to be essential to finding the answers.
First, who are the bank’s depositors and what should the rate be?
Second, who should financial institutions lend to and how much should they charge?
Pricing optimization allows banks to manage revenue, profits and risk more effectively across both sides of the business."
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"Ventana Research anticipates that once the current challenging conditions in the financial services sector have eased, companies in banking and consumer finance will find themselves in an environment where managing profitability and controlling risk exposure is even more important than it was in the last cycle.
In North America (especially the United States), the likely deleveraging of the balance sheets of both the financial services industry and consumers will heighten the necessity to eke out every basis point of yield from loan portfolios while still demonstrating a consistent ability to manage risk transparently."
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"In today’s turbulent markets, pricing has taken on a new level of importance.
Consumer lending executives need to ensure they are appropriately pricing for profit and risk.
Deposits executives need to price appropriately to achieve funding targets without ’giving away the farm.’
These goals can only be successfully achieved by using an understanding of customer response to pricing — a key insight that is missing from most pricing decisions today."
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