Dissolving Gridlock with Micronotes Basic

Micronotes Cross-Sell is a high-touch solution that delivers a superior experience to financial institutions and their customers: targeted interviews are presented to banking customers to ascertain needs and preferences (our predictive models do the targeting; our interview engine gathers the missing information) and a response-based personalized offer is presented. Our Micronotes Pro clients have the ability to answer customer needs in real-time (i.e. call customers who request a call-back, email information to customers who request it, and set-up appointments with customers who need to meet a banker). And for those financial institutions upgrading to our Enterprise platform, the customer experience reaches a whole new level: multi channel sequential conversations driven by artificial intelligence. How cool is that?

As cool as it sounds, none of our customers got on the Enterprise platform overnight. As a matter of fact, all of them started with a basic version which was upgraded over time as technical resources and Micronotes capability increased. The reality is that all bank software, which operates in the secure space, requires dedicated resources for installation. For example,

  • IT is needed to install code
  • Business Intelligence (BI) I is needed to provide a current data file
  • Call centers and branches may need to increase staff to handle lead volumes
  • Security and compliance need to understand where the data is, where it goes and what happens to it
  • Marketing needs to review and approve the campaigns
  • Finance needs to calculate the ROI

That is a large group to organize, based solely upon great references from other banks. For this reason, we’ve introduced Micronotes Basic. Born out of the gridlock of resource management, Micronotes Basic cuts through the internal staffing problem and offers an easy way for financial institutions to adopt and/or pilot the solution rapidly. Here is how Micronotes Basic delivers on its promise:

  • The campaigns only appear at logout, thus removing the need for IT to integrate the solution into online banking
  • Basic includes two non-targeted high value campaigns (“Life Events” and “NPS”), thus removing the need for IT and BI to provide a targeting matrix
  • Customers who accepted an offer for a product are automatically redirected to a landing page, eliminating the need for IT to provide access to email servers and for call centers and/or branch managers to allocate resources for lead follow-up
  • Basic is hosted by Micronotes and since no PII is ever shared and/or transferred to us, the involvement of Security and Compliance employees is removed
  • Basic is based on a small license fee plus a performance charge with no installation cost, meaning that a positive ROI path is readily visible. Thus no need to involve Finance.

I recently introduced Micronotes Basic to an institution who decided nine months ago to implement the Micronotes solution, but could never move forward because of strategic misalignments within the organization. However, when Micronotes Basic was introduced, the steps toward implementation progressed quickly since just two individuals were needed to move things forward. Those two individuals were the internal champion (head of marketing and digital channels) and the webmaster, who needed to understand where to paste the code in the website. Both individuals clearly understood that once Micronotes Basic starts delivering quality leads, fast -- finding the resources to upgrade to Micronotes Pro or Enterprise will not be a struggle anymore. If you are interested in learning more about Micronotes Basic, please visit us here.