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Real Time Analytics Dashboard from Ignite Sales Helps Retail Banks Improve Profitability

June 19, 2013

Bank executives can now improve and measure sales performance and consistency across all channels

DALLAS, Texas – June 19, 2013 – Ignite Sales Inc., the leader in retail banking customer acquisition and retention technology, today announced a new cloud-based sales enablement analytics dashboard specifically developed for retail banks.  For the first time, banks can gain a real-time snapshot of; customer and prospect demographics, what the prospects want, which products they are eligible for, products that were recommended online and at the branch, accounts that were opened, and the gap between what was recommended and sold. This valuable insight enables bank executives to increase profitability by managing front line sales performance, spotting trends, gaining actionable insights about their customers, and ensuring sales consistency across all channels.

“We initially choose Ignite’s solution because of its unique Eligibility Analytics which help us to make correct product offerings to our customers on a consistent basis,” said Rob Ruffin, Senior VP, Client Segment Manger Wholesale Banking at SunTrust.  “However what has truly impressed us is the unprecedented detailed customer data we have been able to garner from our website that should allow us to help better determine customer’s financial needs, how we target messaging and offers, as well as assist us in our efforts to determine which solutions to highlight on our website.”

Specific information on Ignite’s dashboard includes:

  • Profit Gap Analysis – This visual illustrates what was opened, potential profit based on customer eligibility and the resulting gap per product.
  • Current Situation Analysis: Specific information on current business and economic conditions of both consumers and businesses.
  • Customer Eligibility Web traffic: In addition to readily available web traffic statistics, Ignite’s solution is able to put it in context of actual customer profiles and customer eligibility.
  • Detailed Demographics: Real-time data on customers and prospects.

Delivered as a service, the new customizable dashboard incorporates information gained from Ignite’s Recommendation Guides and Eligibility Analytics platform. The solution matches banking products and services to customer eligibility in real-time at the point-of-sale in all channels.  At the core of Ignite’s services is Eligibility Analytics.  Data is obtained using several unique and patented predictive analytics algorithms gathering input from the user, banking product thresholds, and specialized banking data based on over 3,000,000 data points on actual purchasing behavior of bank customers have been collected during a 10 year period. The Eligibility Analytics is used to match product bundles to the customer using the Recommendation Guides.

“Improving and measuring online and branch profitability is one of the most pressing issues in the industry today.  Ignite’s solution helps bank executives close the profitability gap within the branch as well as ensures a very personalized customer experience based on their eligibility,” said Mitchell Orlowsky, CEO at Ignite Sales. “For the first time, bank executives have the tools to see which products and accounts are recommended, which accounts have been opened, and the potential profit gap between what was recommended and opened.”

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