Alliant Selects Econiq to Enhance Sales and Service Effectiveness

BURLINGTON, Mass., April 15 /PRNewswire/ -- Alliant, the United States' 7th largest Credit Union with a member base of 250,000 and $7 billion in assets has selected Econiq's frontline sales effectiveness solution. The solution will be used by frontline employees and managerial staff across Alliant's entire network of branch outlets and contact centers across the country.

The key business drivers behind Alliant's selection of Econiq include increasing cross sales by employee, delivering a more knowledgeable service to members and achieving operational efficiencies for the business.  Previous deployments of Econiq have resulted in a 20 to 25% increase in cross sales revenue for clients and improved branch profitability.

"As an institution that places member advocacy at the cornerstone of our mission, we are always seeking out new ways to enhance our service and provide meaningful solutions to our members.  Econiq will provide us with new ways to capture important information that our members share with our staff every day, and help our employees to become more consultative in their approach to offering members solutions," explains Steve Jacoby, Director of National Sales and Service at Alliant.

"In addition to improving sales and service what impressed us about Econiq was the fact that it requires no integration with our existing systems, rather it wraps around them to do its job, so it can be up and running in a relatively short period of time causing no disruption to our existing business model," concludes Steve.  As well as enabling Alliant to drive cross sales and deliver a more knowledgeable service to its members, Econiq will also help the credit union achieve operational efficiencies.

First, the solution can provide management reports and operational insights into what is happening in the branch, call center and other frontline channels that have traditionally been all but impossible to get.  Real time and historical reports such as detailed analysis of sales performance by Member Service Representative and by product line through to comprehensive reports on referrals made and opportunities won, lost or missed are available at the click of a button.

Second, the Econiq solution will help Alliant optimize its staffing levels by understanding not just the number of people coming into its branches but why they are coming in, and therefore staff branches with the correct people and the correct skill set.  

"With Econiq we get a better understanding of employee and channel performance and it provides us with the insight we need to optimize our strategic planning.  The outcome is that members get better service and we have the right tactics in place to achieve short term and longer term business objectives," explains Steve.

Finally, Alliant will also use the Econiq solution to drive ongoing performance improvement.  Because of its insight into actual performance at the frontline it can create personalized development plans for each employee that are based on factually identified strengths and weaknesses.  This will enable Alliant to correctly target training and development and as a result continually shift the performance curve forward for the business.

"When we saw the Econiq solution we liked everything about it.  From its focus on the frontline member experience through to the ease of implementation.  Ultimately, what cemented our decision was seeing Econiq in action at other credit unions -- the impact was powerful and the results were impressive," concludes Steve.

Launched in North America in 2009, the Econiq solution is gaining rapid traction in banks and credit unions and is currently used in over 40 operations across the US.

See below for information about Alliant Credit Union and Econiq

About Alliant....

Alliant Credit Union, founded in 1935, is an independently operated financial cooperative serving over 140 employee groups with more than 250,000 members and over $7.0 billion in assets, making it the largest credit union based in Illinois, and the seventh largest in the nation, in asset size. As a member-owned financial institution, Alliant exists to foster members' financial well-being and serve their best interests. Alliant is headquartered in Chicago, Illinois, near O'Hare International Airport at 11545 W. Touhy Avenue and is an Illinois-chartered credit union, and as such, is under the supervision of the Illinois Department of Financial and Professional Regulation. Alliant is an equal housing lender and federally insured by the National Credit Union Share Insurance Fund, which is administered by the National Credit Union Administration, an independent agency of the U.S. Government. (Learn more about Alliant online at www.alliantcreditunion.org or call toll-free at 800.328.1935.)

About Econiq....

Econiq is a leading provider of frontline sales effectiveness solutions to banks and credit unions.  The company has operations in Ireland and the US and is headquartered in Burlington MA.  The company's solution is currently deployed in over 40 operations across the US and is proven to deliver a 20-25% increase in cross sales. For more information visit www.econiq.com.

SOURCE Econiq