AQOPTIMIZER is now increasingly being used to price retail and private banking customers, revealing significant added profit potential. The solution enables fast, accurate, and scalable pricing, challenging the idea that retail segments are too simple or low-risk for individualized models.
Banks face challenges in quickly assessing new customers and delivering personalized offers due to outdated systems and manual processes. Speed is crucial for customer satisfaction, competitiveness, and conversion rates. High-speed, system-supported pricing and offer generation improve efficiency, risk management, and customer experience, giving banks a strong competitive edge.
In this article, we consider pricing models in banking and what some of the main benefits and challenges are. The considerations are based on many years experience in banking, and what we have observed at AQRISK from working closely with many banks on implementing pricing frameworks via our AQOPTIMIZER solution.
