406 connections – hosted crm and marketing tool designed...
TRANSCRIPT
ConnectionsHosted CRM & Marketing Tool Designed for Banks
5/23/2107Todd Hanke – Implementation-Conversion Manager
Connections
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• What is Connections?
• FIS’ web-based CRM solution
– Database Marketing
– Profitability/Pricing
– Prospect Tracking
– Incentive Plans
• Core agnostic, Connections is supported on all FIS cores
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Connections Demo
Let’s Take a Test Drive
About BankPlus
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• More than $2.6 Billion in assets
• 60 locations throughout Mississippi
• Bankway core
• Around 750 employees
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Director of Analytics
Lindsay Tomlinson
BankPlus Incentive Plan Structure
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• Began using Connections incentive plan in December 2013
• Executive committee (including CEO) determined point values
• One general incentive plan for everyone did NOT work for us
• Now have four different incentive plans:
– Call Center
– Mortgage Originators
– Frontline/branch employees
– Backend/administrative employees
Star Values
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Star Values
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Star Values
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High-Performance Rewards Redemption Center (Game Theory)
Outside Programs
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Star Tokens
Outside Programs
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Outside Programs
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• Checking Account Bonus Program
• CEO 5-Star Club
• Monthly Rewards Meetings
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BankPlus Results
BankPlus Results
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• Awarded over 75,000 points/stars since program inception
• Average around 2,000 per month
• Average monthly payout is around $20,000
• Average payout in “bonus” months is around $40,000
BankPlus Results
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• ROI Study (over a period of 12 months)
• Expenses:
• All Connections costs + incentive pay = $549,182.66
• Income:
• Deposit referrals = $797,553.96
– Used Connections Profitability reports to get the Average Net Interest Income & Average Fee Income for each account type in a given month. These numbers were annualized then multiplied by the number of successful referrals of each product for the 12-month period (pulled using Relay Reports).
• Loan/Mortgage referrals = $2,964,687.27
– In-house loan referrals used the same calculation as above. For our Mortgage Center loans, we use 180 basis points of the average loan amount for each of our three Mortgage product types.
• Online Statement savings = $37,708.40
– Our annual savings per account was applied across the number of successful Online Statement/Online Banking referrals and recommendations during the 12-month period.
• Children’s Hospital Debit Card revenue = $99,061.00
– These cards generate an average of $23 more revenue per year than our standard debit card. That number was applied across the number of successful card referrals and recommendations in the 12-month period.
• Total direct income = $3,899,010.63
BankPlus Results
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• Improved checking account retention
• Using Connections Account Retention report along with historical data on our core, we were able to determine a 2.72% increase in the number of consumer checking accounts retained each year since Connections was implemented.
• We then applied this percentage to the number of accounts opened in our 12-month study period (after subtracting the number of referred accounts that were already included in our income calculation on the previous slide).
• This number was multiplied by the average income of these accounts, as determined using the Connections Profitability reports.
• Resulting indirect income = $111,804.58
• Final ROI over 12 months
– Direct Income $3,899,010.63
– Indirect Income + $111,804.58
– Expense - $549,182.66
– Total $4,010,815.21
