Posts Tagged ‘Customer Acquisition’

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 […]

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 […]

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 […]

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 […]

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 […]