DALLAS, TX–(Marketwired – Apr 14, 2014) – Ignite Sales Inc., the leader in retail banking customer acquisition and retention technology, today announced that its Profitability Dashboard for OmniChannel Measurement has been recognized by Barlow Research’s Monarch Innovation Awards.
Ignite’s Profitability Dashboard for OmniChannel Measurement is a cloud-based analytics solution that gives banks unparalleled detailed visibility into channel performance allowing banks to measure the financial value of each of its channels. The solution provides key metrics for ROI measurement and serves as a management tool for informed decision making on channel initiatives, including branch and even employee performance measurements, in order to close the gap on untapped profitability.
The Dashboard data is used to increase channel sales effectiveness and profitability while the Ignite service significantly improves efficiency ratios by closing an average of 3.4 products per interaction versus the industry standard 1.2. The dashboards show profits based on product eligibility, captured profits, and compares profitability by channel, by product, and by income type. Banks can measure the value of each channel’s actual sales as well as measure the gap between what was sold and what was recommended but has not yet sold.
“Because retail bank customers seek both digital and physical access, channel performance measurement is critical to managing profitability,” said Nick Miller, president of Clarity Advantage Corporation and Monarch Awards judge. “Ignite’s Profitability Dashboard provides previously-not-available data that enable banks to measure sales, performance, and profitability between and across all channels.”
“We are honored to be recognized by Barlow Research and the judges with this prestigious Monarch Innovation award,” said Mitchell Orlowsky, CEO of Ignite Sales. “The Profitability Dashboard is unique in the industry. No other product offers the ability to provide performance visibility at this granular level by channel, by sales rep, on what products banks are currently selling, what products they could be selling based on customers’ eligibility and spotlight the gap between those two items.”
About the Monarch Innovation Awards
The Monarch Innovation Awards are presented by Barlow Research Associates, Inc. Developed to recognize innovation in the financial services industry, the Monarch Innovation Awards are unique and coveted because an independent jury evaluates the submissions. The judges quantitatively score each submission based on uniqueness, stickiness, dependability, ease of use and value. The award is named after the monarch to symbolize the rebirth that results when old formulas and methods give way to new ways of doing things. www.MonarchInnovationAwards.com
About Ignite Sales
Ignite Sales Inc. is changing the way retail banks sell products and service their customers. Ignite’s services combine a recommendation platform with powerful analytics that matches products to customer eligibility in real-time at the point-of-sale. American National Bank of Texas (ANBTX), Comerica, Sovereign/Santander, SunTrust, Central Bank and Rockland Trust are just a few of the retail banks that are using Ignite to increase customer acquisition, increase customer retention and optimize profitability. Ignite Sales is headquartered in Dallas, Texas.
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