NEW YORK, April 30, 2015 /PRNewswire/ -- Novantas, Inc., the leader in analytical advisory services and technology solutions for banks is pleased to announce that Zach Wise has joined the Company as a Principal. Wise, an industry expert in pricing and analytics, was formerly an executive at Bank of America, where he led retail deposit and loan pricing. Wise will provide advanced analytics services to Novantas clients, as well as extend the Company's preeminent market position in loan and deposit pricing and technology solutions.
As a Bank of America executive, Wise ran pricing and valuation of balance sheet mortgage products where he led development and implementation of asset cash flow models, price elasticity models, and revenue optimization solutions. As the executive for Consumer Deposit Pricing, he managed rate setting for the nation's largest deposit portfolio, helping the bank achieve industry leading funding costs while maintaining balance growth objectives. Wise was also responsible for developing the relationship product innovations across mortgage, home equity, and deposits.
"Zach Wise has an outstanding track record of implementing successful pricing analytics in demanding organizations and challenging environments," said Dave Kaytes, CEO of Novantas. "In today's banking world of diminishing margins and ever increasing customer options, banks need to find better ways to profitably grow the customer base they have, as well as increase share without traditional promotions and loss-leader products."
"Novantas believes that the best analytical solutions need to be designed by experienced bankers, supported by technologists and statisticians," said Darryl Demos, General Manager of Novantas Solutions. "Zach has a proven record of using analytics as a weapon in any rate environment."
"I'm excited to join the Novantas team," added Wise. "The Company has demonstrated unmatched resources, tools, and leadership in the areas of pricing, risk and customer analytics, and I believe we are at a critical point where these disciplines will redefine the competitive landscape. The Novantas platform provides me an opportunity to play a key role in advancing the capabilities of the banking industry over the next few years."
Wise will operate out of the Company's newly established Charlotte, NC office.
Novantas is the industry leader in analytic advisory services and technology solutions for banks. We create superior value for our clients through deep and insightful analysis of the information that drives the financial services industry – across pricing, product development, treasury and risk management, distribution, marketing, and sales management. Novantas technology solutions embed strategic insight from our advisory services into easy-to-use platforms, applying advanced analytic techniques to improve pricing, monitor and manage performance, and grow revenue. PriceTek® – our flagship analytic solution – provides sophisticated modeling tools and leading edge decision support for the full range of deposit and credit products, and is installed in more banks than all other competitors combined. For more information, visit www.novantas.com.
SOURCE Novantas, Inc.