Central Bank
148% Better Sales & Services Productivity
Central Bancompany operates 13 banks throughout Missouri, Illinois, Kansas, Oklahoma and Colorado with $17.5 billion in assets.
The Problem
Central Bank in Missouri is a community bank that believes meeting customer needs is the best way to create customer loyalty and increase bank performance. When Dan Westhues, EVP of Retail banking, decided to implement Ignite Sales in Central bank in 2014, the plan was to use Ignite to create a compelling and consistent customer engagement experience through every customer contact channel for consumers and small businesses, including both branches and on-line. “Our challenge is that we have 13 banking charters in the bank holding company and we provide the regional presidents with enough latitude to provide banking services that are very much oriented to the individual bank communities within Missouri. The bank wanted to feel local but have a very consistent set of products and way of engaging with customers to better understand their needs.”
Top 3 challenges presented to Ignite:
- Insights to all 13 charter banks, their customers, and markets with data visualization
- Consistent conversations and products across the organization
- Deeper relationships as well as deeper penetration with customers across the organization.
The Solution
“We worked closely with Ignite to help them understand our customer-first culture so they could design dynamic digital customer conversation guides that are consistent with our customer engagement philosophy and spark compelling sales conversations for both bankers and customers”, said Mr. Westhues. “Within a few months Ignite designed and implemented the customized conversation guides for our banks and we were very pleased with the result.”
The bank also decided to make the use of Ignite technology a requirement for every branch conversation, prospect, or client. This caused the technology adoption rate for the banks to reach 100%. “The IQ Analytics portal provided by Ignite gave us outstanding insights about banker efficiency and effectiveness and product adoption that we had never see before. It has helped us tremendously to identify areas for improvement for our bankers and as well as product management opportunities.
The Results
“The results of using Ignite have been nothing short of phenomenal”, said Joslyn Baldner. “Once our bankers starting using the Ignite Guides, they began to understand that they could have much deeper and productive conversations with customers. The bankers are much more productive, and clients feel like we are really interested in discovering their needs and guiding them to wise financial choices. On average we see customers adopting about 5 products for every Ignite Sales guided conversation. There is a mix of revenue-generating products and add-ons in that five products, but we have an increase in revenue-generating products that is about 148% higher than the industry average of about 1.3. We now have 162 branches and 620 branch bankers using the Ignite guides on a daily basis. Ignite is a critical part of our customer engagement ecosystem and we are very pleased with the technology and the ongoing support we get from the folks at Ignite.”
“The 15% lift during the first few months was fantastic. But the 40% lift from our best business bankers, well… That blew us away.” — Dan Westhues, EVP Retail Banking, Central Bank
Central Bank’s Results
%
Better sales & productivity
%
Lift from their best business bankers
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