July 20, 2018

Retail Banking Case Study

Without accurate data, Belmont Savings Bank sales and overall effectiveness were limited.

Since the bank typically converts 80% of its business from face-to-face meetings, it needed to ensure that its bankers were effective and competent on the phone to drive branch traffic. Belmont’s Universal Banker method, in which bankers adopt a consultative and customer-centric approach when engaging with their prospect and client base, requires bankers to reach a total of five contacts live on the phone each day. However, the bank had no real insight into the actual call details, such as the length and outcome of each call. The bankers would track their calls in an Excel document, and then managers and executives would analyze the calling activity data. This manual system was not only time consuming but led to frequent miscalculations and inaccuracies due to human error. Belmont realized that without accurate data to rely on, its sales strategy and overall effectiveness was limited. As a result, Belmont needed a solution that would streamline its sales process while also establishing data-driven best practices to hold managers and bankers accountable for their performance. Gryphon’s Sales Intelligence platform was selected to help address this challenge.