NEW YORK, Nov. 29, 2016 /PRNewswire/ -- Novantas, Inc., the leading banking analytics and advisory firm, is pleased to announce that Commerce Bank, Inc. has selected Novantas' PriceTek Deposits solution to advance analytical efficiency, and make more precise deposit portfolio pricing decisions. With the analytical capability and speed of response that PriceTek enables, leading regional banks like Commerce can rapidly enhance their product management and deposit optimization techniques to grow their portfolios and better serve their customers.
Commerce Bank executives will work collaboratively with the Novantas team to institutionalize analytics as the basis for setting price points, managing the sales force through advanced reporting, and conducting detailed customer segment analysis of the portfolio.
"Commerce Bank is committed to providing high quality service to our customers and Novantas' PriceTek platform has been a huge help in fulfilling this vision. The intuitive features of the product have helped us monitor our flow of funds more closely, ultimately reducing costs and increasing work productivity at Commerce Bank," said Bill Hippensteel, EVP and Director of Product Development at Commerce Bank. "Also, we are thrilled to work with a partner that is as dedicated to customer service as we are at Commerce."
The Novantas team delivers substantial value through unmatched industry experience in combination with leading technology. "In addition to our National and Regional clients, we have dedicated ourselves to helping mid-tier regional and community banks leverage banking analytic and data tools to grow their portfolios, and narrow the analytics gap with some of the larger players," commented Darryl Demos, EVP and GM of Novantas Solutions. "We're excited to collaborate with Commerce and deliver advanced analytics to support their deposit growth in today's hypercompetitive banking environment."
About Novantas, Inc.
Novantas, Inc. is the leader in customer science and revenue management strategy for the financial industries. A FinTech 100 Company, its Advisory Services, Analytical Solutions, Data, Research and Marketing Services specialize in investigating and interpreting customer needs, attitudes, and behaviors to help banks refine pricing, marketing decisions, customer strategies, and sales and service activities, and to accelerate their immediate and ongoing economic performance. Novantas's PriceTek® Optimization system is installed in more banks than all other competitors combined. For more information, visit www.novantas.com.
About Commerce Bank
Commerce Bank, is a subsidiary of Commerce Bancshares, Inc. (CBSH), a $24.7 billion regional bank holding company, as of September 30, 2016. For more than 150 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates in more than 340 locations in the central United States and has a nationwide presence in the commercial payments industry. Commerce Bancshares also has operating subsidiaries involved in leasing, credit-related insurance and private equity activities. For additional information, please visit www.commercebank.com.
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SOURCE Novantas, Inc.