How different banks benefit from SELLEA?

Banks without any analytical platforms will utilise SELLEA as the only selection engine for creating target-lists
SELLEA can help such banks in delivering quality target-lists without demanding large up-front investments, major efforts or development of an analytical unit in the bank

Results accomplished from campaigns based on SELLEA target-lists can help these banks to decide whether to:

  • Further invest in development of analytical infrastructure,
  • Continue to utilise SELLEA as a single selection engine, or
  • Entirely abandon such selling approach

1) Banks without Analytical Platforms (as the only selection engine)

In theory, all banks could benefit from direct-selling and campaigning activities which are based on quality target-list selections. However, all banks don’t have analytical platforms that would enable such activities. Most are considering building it sometime in future… while others are not convinced that it would deliver the desired business impact.

There may be different reasons for this, such as low number of clients that would be addressed through these activities and a resulting lack of business case for a large investment, actual budget restrictions, unavailability or concern about the capabilities of resources required for building and utilising such analytical platforms…

Whichever the case may be, with minimal investment and minimal bank resource engagement SELLEA can deliver quality and actionable target-lists with which campaigning activities can be started and their results measured, hence providing the bank with tangible results upon which a decision regarding the future activities can be based.

The bank could find the boost in sales results sufficient and continue to utilise SELLEA as a single selection engine, embedding it into the existing sales process,

Invest and venture into development of own Analytical Platform and additionally utilise SELLEA during the project implementation, or

Entirely disregard the approach to client-base analysis and target selection activities.

SELLEA can help banks which are involved in building of analytical platforms by producing the ‘project outcome’ before the completion of the project
In addition to boost in sales resulting from immediate campaign deployments, such banks will also be able to:

  • Verify that they are sourcing correct (the most useful) data,
  • Prove that the motivation for venturing into the project was correct and
  • Start to introduce organisational and process changes which will be required upon the project completion

Banks who are in the process of building own Analytical Platforms (as an early start)

Banks who are in process of building own Analytical Platform are usually involved in costly and long projects with the expected return on investment anticipated anywhere in the range of 12–24 months.

Such situations often result in increased pressure on various stakeholders which in turn focus their attentions on delivery timelines and, unfortunately, tend to affect the quality of work which is being delivered.

Through utilising SELLEA to fast-track the start of lead selection and target-list building process, initiating of data-driven campaigns and achieving real business results, banks can benefit in multiple ways during the development of their Analytical Platforms:

Acquire partial funding for the project from additional sales.

Assure that there are no oversights and that correct data is being delivered into the Analytical Platform by delivering required input data into SELLEA.

‘Prove the Concept’ of venturing into the project, relieve the pressure exerted by the stakeholders and motivate the project team.

Start with the changing of organisational and sales processes that will be required upon completion of the Analytical Platform.

Banks which recently completed development of own analytical platforms are now involved in a new patience-testing exercise: it’s utilisation
This usually means that bank’s analysts are getting to grips with client data for the first time, that they are testing approaches and sequentially delivering target-lists
The purpose of SELLEA in such banks is to supplement analyst’s activities through:
Providing target-lists that have not yet been developed by the bank and testing the quality of new models

3) Banks who have recently built own Analytical Platform (as a ‘dietary supplement’)

As already discussed, the completion of own Analytical Platform development is only a start of another project or, more accurately: a process of its utilisation.

This process commonly requires patience as bank’s analysts are only starting to utilise the platform and produce selection criteria and models which take time to develop and verify.

In addition to delivering benefits discussed under previous paragraph such as funding and assurance that the bank is moving in the right direction … SELLEA has additional purposes in these banks, such as:

To supplement target-lists which are resulting from newly created models with target-lists for offerings that do not have models developed yet. This supplement assures that all offerings are given equal attention and that selling activities are not subjective to specific products, packages or segments on which bank’s analysis worked.

To measure and verify the quality of newly developed models and selection criteria by producing the target-list for the same offering and compering campaign results.

To allow the newly formed analytical team sufficient time to create quality models per offering without the added pressure of knowing that there are so many more offerings which need models before all required target-lists can be built and campaigns deployed.

Banks with performing analytical platforms will use SELLEA to periodically benchmark the quality of internally developed selection methods and models

4) Banks with developed and functional Analytical Platforms (as a ‘benchmark’)

Banks with functional Analytical Platforms and existing predictive models and selection criteria possess the balanced and optimal process for selection of target-lists and subsequent campaigning.

Such banks usually have experienced teams entrusted with development and maintenance of these models.

However, especially in the CEE region and due to lack of experienced resources in the market, these teams have usually had to be grown internally and, for this reason, often follow the initial and single school-of-thought in their approach to model development.

SELLEA can help these teams and their management to periodically benchmark the performance of their models against the expert system and point out the areas for improvement or, simply confirm the quality of internally developed models.