Amplify Invests in Econiq's Frontline Sales Effectiveness Solution to Drive Revenue and Operational Efficiencies

BURLINGTON, Mass., Nov. 4 /PRNewswire/ -- Amplify, a leading innovative credit union based in Austin, Texas, has invested in a new revolutionary frontline sales effectiveness solution from Econiq. A solution that has proven to deliver a 20% plus uplift in frontline sales for community banks and credit unions.

The solution will be used throughout the Amplify organization and will be deployed across its network of branch and call center operations. The investment in Econiq has been driven by the company's objectives to increase cross sales by employees, grow its average number of products per household and achieve operational efficiencies.

The Econiq solution systemically leverages the real time interactions between staff and customers to get a better insight into what products or services a customer needs. It works by providing staff with an, easy to use tool to capture valuable information, shared during every day conversations, about events in a customer's life. This information is analyzed in real time and used to alert the frontline sale person to products or services that might be of interest to the customer. Alternatively it creates a formal automatic sales referral to other area of the credit union such as the business, mortgage and investment departments.

The Econiq solution also gives Amplify a unique ability to maximize the revenue potential of new customers.

"Research shows that the first few months a new customer is with a bank or credit union is when you have the most opportunity to sell them additional products or services. Too often we have missed those vital opportunities simply because we have no smart automated way of tracking our new customers and analyzing what we knew about them to enable us to make offers that mattered to them," explains Pierre Cardenas, Senior Vice President of Retail at Amplify.

"Econiq fixes that for us. It allows us to record pertinent information about our customers' life events as part of the account opening information. It then uses that information to prompt us with appropriate products and services to upsell to the customer," comments Pierre.

"And, most importantly it does it by working with our existing systems. We did not have to replace solutions or spend valuable time and resources learning new systems. Put simply Econiq wraps around the systems we have."

The Econiq solution will also help Amplify drive operational efficiencies. Because the solution listens and observes exactly what is happening at the frontline it enables Amplify to understand the number of people coming into the branch and why. This allows Amplify to staff its branches with the correct number of people and the correct skill set.

The implementation of Econiq at Amplify is currently underway. "To date the implementation process has exceeded our expectations - there has been no disruption to our business and we are getting insights into our sales effectiveness that we have never had access to before," concludes Pierre.

For the full press release please visit www.econiq.com