White Paper: Five Keys to Out-Pricing (Not Under-Pricing) Competitors

Document created by toddrollin@fico.com Advocate on Dec 4, 2015Last modified by wendyfreitag@fico.com on Aug 2, 2016
Version 4Show Document
  • View in full screen mode

Embed customer-centric pricing power into your operational DNA


The phrase “competitive pricing” is often used to mean pricing lower than competitors. But a financial institution that can make offers at higher prices and still win the business is even more competitive. And if these transactions raise not only margins and profits, but customer satisfaction and share of wallet, that company is truly a formidable competitor.

This paper examines customer-centric pricing optimization, which encompasses far more than just price. We look at how financial services can make astute decisions about the entire offer, based not only on detailed predictions of customer value, sensitivities and behaviors, but also on customer attitudes and choices revealed at the point of sale.