Ignite Sales, Inc., the industry leader in customer engagement technology, announced today that financial institutions using its customer engagement management (CEM) platform have seen nearly a 40 percent increase in customer satisfaction, as measured by JD Power and Gallup.
For decades, banks have struggled to consistently and effectively engage with consumers and small businesses, both in branches and online. Challenges such as high banker turnover rates, antiquated engagement techniques and misplaced priorities have resulted in as much as 70 percent of retail banking customers opening accounts and using products that are not the best match to meet their needs. This can have a significant negative effect on customer satisfaction and loyalty, and ultimately the bank’s financial performance and competitiveness.
Additionally, consumers now expect a personalized experience in nearly every aspect of their lives – including banking. In fact, a survey from Epsilon revealed that 90 percent of consumers find personalization to be very or somewhat appealing. Moreover, a Salesforce study found that 76 percent of consumers expect companies to understand their needs and expectations. Ultimately, this drives better satisfaction and higher engagement.
Ignite’s unique cloud-based Customer Engagement Management (CEM) platform fills a major gap in the customer engagement process and ensures customers’ needs are met in a transparent, compliant and ethical manner. Not only does Ignite address an incredibly important missing link in the sales process but it does so with a powerful new version of its platform, Ignite Neuro 2.0, utilizing artificial intelligence and proprietary analytics engines to provide highly dynamic digital conversation guides for bankers to use in face-to-face engagement with customers and the bank to use in digital channel customer engagement.
As a result, banks leveraging Ignite have increased customer satisfaction by nearly 40 percent, as well as increased sales by about 150 percent in the branch and 100 percent for online interactions for customers experiencing an Ignite guided conversation. In addition, financial institutions have seen new product enrollment rates increase as much as fourfold, funding rates on opened accounts have doubled, and loan application approval rates have increased by 50 percent for customers experiencing an Ignite guided conversation.
A large, full-service bank with more than $125 billion in assets recently leveraged Ignite’s customer engagement platform in the branch within the small business area. The branch manager said that the process was easy and effective, and the recommendations made were completely accurate.
“The client was appreciative of the time spent helping him find ways to grow his business. I’m a huge fan of this product and know it will have a big impact on our customers. I’m excited to continue using this with all of my clients,” he said.
“Customer satisfaction can have a tremendous impact on customer attraction, retention and engagement, and fortunately every bank can see significant improvements on these dynamics using Ignite,” said George Noga, CEO of Ignite Sales. “For more than 20 years, our powerful customer engagement platform has helped financial institutions overcome this challenge and create deeper relationships with customers – and they are seeing real results and a significant ROI in just months.”
About Ignite Sales, Inc.
Ignite Sales empowers banks to conduct highly efficient and effective customer interactions designed to discover customer needs and make accurate product recommendations. Its award-winning customer engagement platform digitizes the sales process online and in the branch. Ignite significantly improves sales force performance by using artificial intelligence (AI) and behavioral science proven over 20 years with the industry’s leading banks, resulting in 40% improved customer satisfaction, 100% accurate recommendations and up to 150% growth in sales. Award winning analytics show bank management valuable information unattainable with any other fintech provider. Visit us at www.ignitesales.com.