Prior to the COVID-19 pandemic, only two percent of deposit accounts were being opened online at mid-size financial institutions. With up to 98% of their sales coming from traditional branches, banks and credit unions that do not quickly build digital sales, origination and engagement capabilities risk a tremendous competitive disadvantage.
By addressing key gaps in an institution’s virtual sales and customer experience, Cornerstone’s Virtual Sales and Service offering can help mid-size financial institutions to get revenue growth back on track in 45 to 60 days.
What We Offer
30/90/180 Day Smarter Bank Virtual Execution Roadmap
Cornerstone can help mid-size financial institutions address key gaps in virtual sales and customer experience to get revenue growth back on track in 45 to 60 days. The Virtual Execution Roadmap provides a comprehensive action and accountability plan with detailed tasks, target/completion dates and responsibilities.
Virtual Sales and Service
We help clients implement new digital and contact center sales and service processes based on our best practice knowledge and database of peer performance metrics. We address and solve vendor and technology issues and make recommendations, as needed and applicable, for fast-track replacements. Clients benefit with faster apps, higher completion and funding rates, increased deposit retention and reduced fraud.
Vendor Contract Negotiations
Cornerstone’s extensive experience and Vendor Vault means we can help clients’ gain the best prices, terms, conditions and service level agreements in their vendor contracts. The knowledge we impart helps clients build stronger partnerships with their vendors.
How can we help you become Smarter
in Virtual Sales and Service?
Change the way you sell and deliver services. Get a detailed plan to make rapid advances in digital technology, analytics and new approaches to marketing. Capture new business and origination growth in a manner more like fintechs than traditional financial institutions.
Leverage peer performance metrics as a measuring stick to compare your key business metrics against your competition. If you already have a digital program, you can review your statistics and identify any opportunities for improvements.
Our best practices, proprietary research and peer performance metrics can help clients rapidly select and implement new digital and contact center solutions focused on growth.
Faster online lending and account origination, higher completion and funding rates, reduced fraud, increased deposit retention, lower-cost vendor contracts, solution provider partnerships that support future growth.
Two thousand and seventeen proved to be a pretty good year for banks, and 2018 promises to be even better. While the economic environment of lower taxes, rising rates and promises of deregulation have driven up valuations, the secret sauce that produces results still eludes many.