Symphony Technology Group has acquired a majority equity stake in Nomis Solutions, a provider of SaaS-based pricing and profitability management solutions for the global retail banking market. No financial terms were disclosed. Financial Technology Partners served as strategic and financial advisor to Nomis in this transaction. Nomis has offices in Silicon Valley, Toronto, Melbourne and Cleveland.
BRISBANE, CALIF. (PRWEB) MAY 12, 2020
Nomis Solutions, a leading provider of SaaS-based pricing and profitability management solutions for the global retail banking market, has reached an agreement with Symphony Technology Group (STG) in which STG has acquired a majority equity interest in Nomis.
Nomis joins STG with a deep history of market leadership and tremendous market opportunity ahead. As retail banks and mortgage lenders look to deepen relationships with their end consumers and tailor product offerings accordingly, pricing technology and profitability management solutions will play an integral role in a dynamic market landscape. Nomis serves many of the large retail banks in North America and globally.
“I am excited to partner with STG in driving the next phase of growth for Nomis,” said Frank Rohde, CEO of Nomis. “Over the past year, we’ve made significant investments in our core platform as well as the launch of our new nSight solution for mortgage and deposit pricing. These investments have led to 60 percent customer growth over the last six months alone. The additional capital invested by STG will allow us to accelerate market-driven innovation and continue to build out the banking industry’s leading pricing platform.
“As banks and lenders look to navigate the current recession and changing consumer behavior, investment in digital sales and service capabilities, customer-centric analytics, and improved profitability management will be critical to preserve and protect margins. Nomis will continue to be the partner to provide the most advanced pricing technology and expertise to our customers,” continued Rohde. “With STG, we’re teaming up with an investor whose focus on the intersection of software, data, and analytics presents the perfect partnership opportunity for Nomis.”
“Global banks seek best-in-class technology partners like Nomis to provide pricing and profitability management solutions,” said Marc Bala, managing director at STG. “Nomis has developed the industry-leading product suite and has a reputation for delivering outstanding support to its blue-chip customer base. STG is thrilled to partner with Frank Rohde and the Nomis team to build on its record of innovation and continue delivering world-class digital banking solutions to customers for years to come.”
“Nomis’ market expertise and deep commitment to its customers has positioned it as a trusted advisor to retail banks around the world,” said Quinlan Fang, principal at STG. “We are excited to welcome Nomis into the STG family and look forward to working with the leadership team to further enhance the value the company creates for its customers.”
Financial Technology Partners (FTP) served as exclusive strategic and financial advisor to Nomis in this transaction.
About Symphony Technology Group
STG is the private equity partner to market leading companies in data, software, and analytics. The firm brings expertise, flexibility, and resources to build strategic value and unlock the potential of innovative companies. Partnering to build customer-centric, market winning portfolio companies, STG creates sustainable foundations for growth that bring value to all existing and future stakeholders. The firm is dedicated to transforming and building outstanding technology companies in partnership with world class management teams. STG’s expansive portfolio has consisted of more than 30 global companies. For more information, please visit stgpartners.com.
About Nomis Solutions
Nomis is a fast-growing fintech and price optimization pioneer that is enabling the world’s smartest financial institutions to drive sustained, profitable growth through end-to-end customer-centric pricing capabilities. We do so through our market-leading, cloud-native Nomis Platform™ and team of experts, bringing together cutting-edge big data, machine learning, AI and mission-critical software with deep expertise in consumer behavior, pricing and the financial services industry. The Nomis Platform manages over $2.5 trillion in transaction volume, quotes a price every 60 milliseconds, empowers 14,000+ bankers, and generates nearly $800 million in value annually. To learn more, visit nomissolutions.com.