Harnessing data unavailable elsewhere, the new platform empowers financial institutions with insights and peer analysis to make informed, strategic decisions to improve sales engagement for strategic differentiation
Ignite Sales, Inc., the leader in retail banking sales engagement technology, today announced the roll out of its new and more powerful enterprise data analytics platform, Ignite Sales IQ Analytics 2.0. Leveraging data currently unavailable to banks, this new platform provides financial institutions with a new foundation of insights and performance drivers capable of supporting a sales performance culture shift focused on understanding and meeting customer needs today and tomorrow.
“The way in which banks engage with customers will continue to be a major differentiator in a highly competitive, commodity product based financial services market”
IQ Analytics 2.0 represents the next level of game-changing insights into the variables that determine successful, sustainable sales engagement and outcomes in every sales channel and every line of business for banks and credit unions. Ignite’s rapidly growing database currently consists of anonymous data from over 15 million Ignite client digital, customer-facing guided sales conversations. This data is presented in new, secure, interactive, and easy-to-use dashboards and visualizations.
With these critical insights, financial institutions can run a more efficient and effective customer-facing branch sales organization, improve the sales effectiveness of every banker, and improve the sales effectiveness of all digital channels, all of which result in a significant positive impact on the financial wellness of consumers and small businesses.
The industry’s most powerful, AI data-driven sales engagement platform coupled with IQ Analytics 2.0, uniquely provides banks an advantage over other financial institutions and non-banks, allowing them to better compete in the new customer-driven market. Ultimately, this new platform is the foundation for machine learning models that lead to sales AI optimization in banking.
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“The way in which banks engage with customers will continue to be a major differentiator in a highly competitive, commodity product based financial services market,” said George Noga, chief executive officer, Ignite Sales. “The winners will gain an advantage by accessing and leveraging data insights better than others. We are happy to provide this advantage to our clients with our new analytics platform to help grow deposits and improve efficiency.”
This is further supported by Jack Henry’s 2023 Strategic Priorities Benchmark Study. According to its report, growing deposits and improving operational efficiency are top priorities for all financial institutions in 2024, and data analytics will be critical in doing so. In fact, it ranks as a top three technology investment planned for the next two years, indicating that financial institutions are aware and actively making plans.
Noga adds, “Based on the initial feedback from our clients, the insights provided by the new platform, including customer buying behavior, banker sales engagement behavior, digital channel sales dynamics, and product configuration and pricing, will be invaluable. I look forward to seeing the tremendous impact on our industry and ultimately a richer and more valuable banking experience for consumers and businesses.”
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Unlike any other platform, Ignite leverages its more than 15 million customer sales conversations, all completely anonymized, and safely aggregates that data to provide financial institutions with critical peer-to-peer analysis. Financial institutions can quickly evaluate their efforts against similar institutions, providing even greater insight to make critical decisions.
“Peer-to-peer data analytics will be a game changer and become a transformative force for banks,” said Julie Hamrick, COO, Ignite Sales. “Banks can gain deeper insights into market trends, customer behaviors, and risk factors. This approach not only enhances the accuracy and reliability of their analytics but also fosters a collective intelligence that transcends individual data silos. Having access to anonymized peer data allows banks to benchmark their performance, identify best practices, and proactively address emerging challenges. The impact of platforms like Ignite Sales IQ Analytics 2.0 is multifaceted, from improved decision-making and risk management to the cultivation of a more resilient and adaptive banking ecosystem.”
