Real-Time Credit Offer Presentation System
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Solution Overview
Problem
Financial institutions face limitations in effectively offering credit products to customers due to a lack of detailed customer qualification information at the point of transaction, hindering tellers' ability to identify and pursue sales opportunities.
Innovation Solution
Implementing a system that allows simultaneous parsing of customer information during a teller transaction to determine if the customer qualifies for a credit product, enabling a pre-approved credit offer to be presented to the customer, with the option to initiate booking or refer to a sales associate based on customer response.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If tellers manually probe customers for sales opportunities, then sales opportunities may be identified, but the teller's effectiveness is limited by lack of detailed customer qualification information
Solution Approach 1:
The system performs preliminary credit qualification assessment automatically during the teller transaction using customer information already being processed. The credit opportunity system queries customer qualifications in advance before the teller needs to present offers, so that when the teller probes for sales opportunities, detailed qualification information is already available to guide the interaction.
2Measurement precision
If customers are referred to sales associates for detailed product discussion, then product qualifications can be determined, but the transaction process becomes more complex and time-consuming
Solution Approach 1:
The teller system is enhanced with multi-functionality to perform both routine transactions and credit qualification assessments. The integrated system allows the same teller workstation to handle deposits, withdrawals, and credit product evaluations without requiring separate sales associate interventions for qualification determination.
Solution Approach 2:
The system enables self-service credit qualification where customer information is automatically processed and evaluated by the credit opportunity system without requiring manual intervention from sales associates. The teller simply initiates the credit inquiry through the enhanced system, and automatic assessment occurs in the background.
3Loss of time
If credit offer inquiries are made simultaneously with teller transactions, then pre-approved offers can be presented in real-time, but additional system integration and processing are required
Solution Approach 1:
The credit opportunity system is merged with the existing teller transaction system through integration. The credit offer inquiry module combines with the teller workstation's existing customer data access capabilities, allowing simultaneous processing of routine transactions and credit qualifications using unified system resources and shared customer information databases.
Data Source
AI summary
Method and System for Enabling Teller Presentation of Pre-Approved Credit Offers. Simultaneously with a teller transaction flow, pertinent customer information can be parsed and forwarded to a credit opportunity system such as may be operated by a credit bureau. If the customer qualifies, the appropriate details of the pre-approved credit offer can then returned to the teller system. The teller then has both a cue and the necessary information to sell a pre-approved product to the customer. Provisions can be made to dispose of the transaction in various ways, based on input by the teller as to the outcome of the offer to the customer. A server and other functionality disposed in a channel technology mid-tier can control the formatting and sending of offer inquiries.