SOURCE: Ignite Sales

Ignite Sales

February 06, 2013 10:07 ET

Ignite Sales Sees Strong Momentum as Retail Banks Face an Increasingly Competitive Environment

Signs Top Tier Banks and Introduces New Product Innovations

DALLAS, TX--(Marketwire - Feb 6, 2013) - Ignite Sales Inc., the leader in retail banking customer acquisition technology, today announced strong growth in 2012 as demand for its Recommendation Guides and Eligibility Analytics™ escalates. The company successfully implemented its services at several top tier banks including Comerica, Fifth Third Bank, and SunTrust and introduced mobility, CRM integration and unique-to-the-industry branch management dashboards into its services suite.

With continuing low interest rates, new regulations that increase operating costs, and sluggish employment growth, retail banks are facing unprecedented competition for acquiring new customers and retaining existing customers while cutting costs. Customers are taking greater control of their banking relationships. They are switching banks, changing their behavior and demanding improvements. Profitability at banks starts with understanding customers.

"The response from banks using our services has been exceptional. Our Recommendation Guides and Eligibility Analytics are enabling them to match products to customer needs, resulting in increased sales, increased profits and knowledge of their customers that is competitive and unavailable through any other offering," said Mitchell Orlowsky, president and CEO of Ignite Sales. "Our online, in-branch, call center and mobile solutions make it easy and cost effective for banks to upsell and cross-sell products across all channels."

Key milestones for Ignite Sales in 2012 include:

  • Added several top-tier customers including Comerica, Fifth Third, and SunTrust.
  • Achieved 100% revenue growth and cash flow positive.
  • Unveiled new product innovations including:
    • A unique form of branch/sales management dashboards that allows retail executives the ability to control product offerings across their branch network and then track product offerings vs. account openings
    • iPad, Smartphone and Kiosk Support for Anywhere, Anytime Personalized Bank Shopping Experience - Branch networks can now provide a consistent customer experience with the right product bundle for customers every time no matter where the point-of-sale.
    • Customer Relationship Management and other backend integrations - analytics integrated into CRM and call center applications to speed up the sales cycle.

"We are pleased with the data we have been able to garner from our web site, and how it can inform our strategy to support our clients' financial wellbeing," notes Rob Ruffin, SVP, Client Segment Marketing Manager in Wholesale Banking at SunTrust. "We continue to be in a test and learn mode with the tool and are looking to optimizing our sales potential with the analytics provided by Ignite."

Ignite's services combines a recommendation platform with powerful analytics that matches banking products and services to customer eligibility in real-time at the point-of-sale. At the core of Ignite's services is Eligibility Analytics. Data for the Analytics is obtained using several unique and patented predictive analytics algorithms gathering input from the user, banking product thresholds, and specialized banking data based on over 3,000,000 data points on purchasing behavior have been collected during a 10 year period. The Eligibility Analytics is used to match product bundles to the customer using the Recommendation Guides.

About Ignite Sales

Ignite Sales Inc. is changing the way retail banks sell products and service their customers. Ignite's services combines 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, Fifth Third Bank, Sovereign/Santander, SunTrust and Wells Fargo & Company 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.

Contact Information

  • Contact:
    Laura MacSweeney
    Red Javelin Communications
    Email Contact
    +1.781. 395.6420