How do you price your auto loans today?
Are you using manual revisions of pricing tables? Struggling with lengthy deployment cycles? Relying on your IT team every time you need to make a change? If any of this sounds familiar, you are in need of a pricing operation revamp.
Auto lenders around the world face unprecedented pressure to develop innovative products that align with changing customer expectations, can handle market volatility and quickly respond to competitive shifts.
Meeting the accelerating pace of change necessitates new analytical infrastructure. Legacy technologies constructed of numerous systems that don't "talk" to each other, are not up to the task. Lenders must react quickly to adopt an innovative pricing solution that ensures fast, personalized pricing tailored to customer needs.
What Is Your Challenge?
Earnix equips you with insights into what an agile pricing engine can do for you, key features and functionalities to look for, and how you can best leverage these to solve your challenges, no matter how complex they are.
A 65% reduction in unprofitable loans and a 10-15bp lift in profitability
This is what Earnix was able to deliver for a Tier-1 Bank in North America. With real-time pricing optimization backed by AI analytics, you can deploy price updates to the market daily, before the competition can even schedule a meeting between their data scientists and the pricing team.
Falling Loan Volume?
Loan bookings are up by 9% within the 1st year. Increase in all-in revenue by 17% over 2 years.
These are the results that Earnix delivered for an Italian Retail Bank. With real-time optimization, scenario simulation, dynamic A/B testing capabilities, and ongoing monitoring, you can predict market reaction to your proposed pricing changes and find that sweet spot to balance out volume and profitability.
Slow Pricing Updates?
Replaced quarterly manual price updates with automated 2-3 times a week deployments.
This is what Earnix did for a large US Retail Bank. Our code-free SaaS pricing engine enables business-led deployments without overly depending on IT. Rates can be deployed faster and with the understanding of how price adjustments will impact volume, spread, and pull through.
Using integrated systems, introduced personalization to differentiate rate cards. Achieved a 29 bps uplift
These results were made possible for a leading UK Bank thanks to Earnix modern analytical infrastructure. Legacy technologies constructed of numerous systems, are not up to the task. An AI-based solution is essential to saving you from spreadsheets, slow manual processes, data silos and granular data preparation for your pricing committee.
Discover Earnix Price-It™
A single platform for price modeling, simulating, and deploying, so you can react quickly to changing market conditions and bring new products to market faster. The platform maintains a single source of truth for pricing calls by dealers and contract validation systems.
Earnix is a global provider of real-time, AI-driven dynamic pricing, product personalization, and digital decisioning solutions for financial services industry including consumer lending, auto finance, mortgages, and more. Our agile pricing engine makes personalized offers a reality, shortening time to value and closing the business before competition can react.