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feeCOMPASS®

Smart Benchmarking


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Selling is a simple, yet difficult to execute, concept.

It starts with knowing what your offer is, and what are the strengths of it.
Next, you have to determine the strengths and weaknesses of the competitors within your market.
However, most importantly, you need to know what you can do about it when persuading the Customer. This is where a good sales advisor really shines.

the SOLUTION

feeCOMPASS® app, developed by INNECT is a financial product sales assistant. Its power can be leveraged by both advisors (mobile, in branches or call centers) and automated channels. It provides intelligent costs, charges and fees comparison of financial products.

Based on the customer's profile, advisors using feeCOMPASS® can instantly benchmark the competing offers. This information helps advisors use appropriate sales arguments, provide advice adapted to customer’s needs and effectively boost sales.

feeCOMPASS®'s engine calculates actual fees, with all promotions and small print taken into account. It can also automatically highlight links between individual customer behaviour components and the resulting fees and charges. It will also emphasize strong and weak points of individual offers..

Data for the Customer Profile can be input using the app's ergonomic CP panel or be sourced from external systems via PSD2 API or from the banking system. feeCOMPASS® maintains an up-to-date market database with automated monitoring of product changes and database update cycles. Universal character of the engine means it can also be applied to offers from other sectors (i.e. gas or electricity).

New functionality under development will allow feeCOMPASS® to compare bundled offers and supply information to automated channels, thus enabling the banking system to act on customers' behaviour with the knowledge of the current market offering (including special deals and promos).

Personalised offer benchmarking along with relevant argumentation help build trust during customer - advisor conversation.
And feeCOMPASS keeps the advisors informed about the competition's hot deals and promos.
Personalised offer benchmarking along with relevant argumentation help build trust during customer - advisor conversation.
And feeCOMPASS keeps the advisors informed about the competition's hot deals and promos.
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Benefits

1. Product teams, developing & marketing products and services:

feeCOMPASS®'s engine allows insight into the competition's offering and supports faster reaction to market changes - thanks to constant market monitoring, alert system and ready to use benchmarks supporting comparison down to individual offer parameters.

2. Sales teams across various channels:

Performance tuned interface helps boost sales. feeCOMPASS®facilitates trust building between the customer and the advisor with instant access to up-to-date product information that matches personalised customer profile. With feeCOMPASS you can create accurate sales points and bring out strong points of your offer.

3. Analytical teams dealing with customer behaviour prediction:

The engine powering feeCOMPASS® provides improved analytical models. Thanks to custom queries it helps analysts test hypotheses, discover corelations and model/optimise financial parameters. It provides proactive evaluation of current customer profiles with churn risk assessment within the market landscape (other available offers).

Early access

To participate in the feeCOMPASS® early access programme,
please apply in writing to: feeCOMPASS@innect.eu

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