Helps Banks Manage and Measure Sales and Profitability Across Their Branch Network
NEW YORK, NY--(Marketwired - Sep 10, 2013) - Finovate Fall 2013 -- Ignite Sales Inc., the leader in banking customer acquisition technology, today announced the first release of a new Branch Profitability Dashboard, a cloud-based analytics solution that gives banks detailed visibility into branch performance. This data can be used to increase branch sales effectiveness and profitability. The new dashboard shows profits based on product eligibility, captured profits, and compares profitability by branch, by product, and by income type. For the first time bank executives have the insight and tools they need to manage branch sales effectiveness and close the gap on untapped profitability.
Banks are facing many challenges managing profitability across their branch network.
"The analysis that seems to get the most notice in banks today breaks down the potential and actual profits in terms of interest vs. fee income. What is most powerful is that we can show the comparison between interest and fee income by branch," said Mitchell Orlowsky, CEO at Ignite Sales. "Recouping fee income is such a huge priority right now and today, bank executives have no way of knowing what is recommended in terms of potential fee income or how much fee income is available as compared with interest income."
Delivered as a service, the Branch Profitability 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.
About Ignite Sales
Ignite Sales Inc. is changing the way retail banks sell products and service their customers. Ignite's services combines a recommendation platform with powerful analytics that matches products to customer eligibility in real-time at the point-of-sale. American National Bank of Texas (ANBTX), Comerica, Fifth Third Bank, Sovereign/Santander, SunTrust and Rockland Trust are just a few of the retail banks that are using Ignite to increase customer acquisition, increase customer retention and optimize profitability. Ignite Sales is headquartered in Dallas, Texas.
Contact Information:
Contact:
Laura MacSweeney
Red Javelin Communications
+1.781.395.6420