This data collected by the platform can be used to strengthen branch sales effectiveness and profitability, as the lenders have been confronting many challenges, which put pressure on profitability across their branch network.
Designed to offer required insight to fill the gap in untapped profitability, the new dashboard shows profits based on product eligibility, captured profits, and compares profitability by branch, product, and income type, claims the company.
It enables the bank to understand eligibility, product recommendations, account openings, and manage the hole to become more profitable.
Ignite Sales CEO Mitchell Orlowsky said that the analysis that seems to get the most notice in banks breaks down the potential and actual profits in terms of interest against fee income.
The Branch Profitability Dashboard, which is provided as a service, integrates information gained from Ignite’s Recommendation Guides and Eligibility Analytics platform.
The tool uses the data obtained from many 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.
