Canadian financial software vendor Fincentric has launched Wealthview Leadbuilder, an application which enables frontline banking staff to deliver marketing campaign offers while serving customers.
The product utilises a bank's back-office customer analytics system - such as a marketing customer information file (MCIF) - and directs marketing campaigns to the desktops of frontline staff.
Wealthview Leadbuilder matches customer data with the bank's core banking and lead management systems, ensuring all marketing offers are appropriate. During the customer service interaction, system automatically displays a banner with a targeted marketing campaign offer for the specific customer. Once a customer's response is recorded the system interfaces with the lead management system, instantly passing the referral to the relevant staff for follow-up.
Steve Pentin, Fincentric's product manager, Wealthview Leadbuilder, says traditionally, financial firms assign sales duties to branch managers or sales people, keeping frontline staff out of the sales process, but by excluding the frontline opportunities to generate warm leads are lost.
"The challenge for mid-tier banks is to find an effective, inexpensive way to involve tellers and call centre staff in the generation of warm leads, without requiring them to close sales," he adds.
Fincentric says banks using the product can expect significant response rates from marketing campaigns - anywhere from 25% to 50%, over traditional marketing campaigns which yield on average three per cent.
The system is currently in beta testing at the Washington Trust Bank.