Posts Tagged ‘Customer Acquisition’

[Guide] 6 Ways To Mitigate Risk In Cross-Selling For Financial Services

Disciplinary actions. Government fines. Victim restitution. There is no shortage of regulatory compliance issues hitting the headlines these days. In recent years, however, it is news of aggressive sales tactics that has had the general public and several regulatory bodies that oversee financial institutions very concerned. Most financial institutions have critical cross-selling initiatives that encourage […]

Mitigating Risk During Customer Onboarding In Financial Services

Customer onboarding is one of the most important and scrutinized processes in financial services. Companies continuously refine their processes in an attempt to make customer acquisition more effective. How can they enroll customers fast enough to avoid application abandonment, while having enough safety measures in place to minimize potential risk? Enhanced new account opening processes […]

3-Part Process To Reduce Risk When Cross-Selling In Financial Services

While modifying sales goals can be a good place to start, artificial intelligence and intelligent machines (along with a comprehensive process) can be leveraged to analyze data and identify patterns. Aside from knowing the real identity of customers, companies are obligated to ensure that their customers have willingly opted to do business with them through […]

What To Make Of Sales Goals And Incentives In Banking And Insurance

Most successful cross-selling programs have incentives in place that reward employees for selling additional products and services to existing clients. While financial incentives are often indispensable in certain parts of the industry, and there is nothing wrong with such programs at their core, they do open the door to unethical behavior that can have unfortunate […]

The Importance Of Cross-Selling In Banking And Insurance

Let’s talk about what cross-selling is, in the simplest of terms. It is well known in the financial services industry that customers who sign up for multiple products and services are typically more loyal and, therefore, can bring organizations more revenue in the long run. These deeper relationships are what make cross-selling financial products so […]