Blog

By Christian Klacko, Cofounder and COO, Micronotes

There are almost as many different ways for a financial institution to use artificial intelligence machine learning to connect with their digital users as there are banks and credit unions in the United States.

When it comes to connecting with customers who seldom visit branches, it’s essential to realize that the online and mobile engagements between bankers and their digital users—which, for some larger institutions, can number in the thousands per month—likely never would have happened if they required a branch visit.

In a recent post, we looked at how some of our banking clients are using Micronotes to connect with their digital banking users and generate a healthy number of leads from the campaigns they run.

Here are a couple of newer Micronotes clients that are off to great starts not only generating leads but driving sales.

• A bank in the Midwest with more than $1.2 billion in assets made saw tremendous results in June in terms of active campaigns, leads generated, and sales made. This institution increased the number of campaigns it ran by 400 percent, which drove lead generation up significantly. Most importantly, the bank converted 82 percent of its leads into sales.
• A $1.4 billion institution on the East Coast that became a Micronotes client even more recently, also had a stellar June. This bank increased its leads by more than 15 percent, and saw its sales jump by 200 percent.

Branches play a role in how financial institutions serve their communities, but online and mobile banking will continue to grow as the primary way people do their banking. So, when institutions run campaigns that facilitate engagement and those engagements turn into leads and then into sales, it’s a win-win.