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Commercial bankers are struggling to differentiate themselves.
Experienced front-line bankers are using cumbersome, forms-based software that provides them no immediate value. Data is collected in the back of the bank and insights and intelligence rarely are delivered to the front-line banker.
The problem isn't a lack of data or insightful analysis. It's that the data and insights don't DO anything. They create no pathway to action and can't coach bankers when they are negotiating terms and structures with their clients.
Do your RMs feel powerless when pricing and structuring deals?
Do your insights lack impact or just sit in unread spreadsheets and reports?
Do your RMs lack real-time coaching on how to improve the shape of a deal?
Are your bankers wasting their time with non-revenue-generating activities?
Coaching is done after the fact. Banks deliver reports to sales managers and RMs telling them what they should’ve done differently last week.
They sink massive resources into advanced analytics, data lakes, data scientists, and models, but the insights are buried in reports and dashboards. The models try to prevent bad deals from happening instead of focusing on structuring successful deals.
They throw more bodies at the problem. Banks add more sales training dollars and consultants to improve “coaching” 1-to-1. This adds complexity without the right tools and insights to coach their RMs at scale and generate real ROI.
Banks have not provided insights that are truly impactful and actionable. Until now...
Applied Banking Insights technology is the continuous improvement solution that gathers valuable data, analyzes it and transforms it into actionable insights. This happens during each “moment of truth”, when the banker is looking for the best outcome for their clients and the bank.
RMs are given insights, in the moment, that enable them to craft deals that meet the needs of the customer and the bank.
The technology gathers the most valuable data – from the behaviors that lead to outcomes for the bank - both good and bad.
The bank's data is then analyzed and mined for insights that will lead to meaningful action.
This is where those insights get translated into action – via tools that enable for coaching at scale, across all front-line bankers.
© Applied Banking Insights Flywheel