Part of the Raiffeisen Bank International AG Group, Austria, Raiffeisen is the largest Ukrainian bank with foreign capital. It offers a wide range of standard and up-to-date banking services used by more than 2.5 million customers in 400 branches across the country. Raiffeisen Bank’s mission is to transform continuous innovation into superior customer experience.
Raiffeisen Bank Increases Sales by 50% and Payback іn 3 Months
Nectain has helped Raiffeisen Bank to automate the management of sales of its banking products.
Get a Demo
Industry
Banking
Company size
>1000 employees
Jump to section
About Raiffeisen Bank
The Challenge
Raiffeisen Bank’s sales management system was inefficient and outdated. Managers at all levels, except C-board, received a monthly salary regardless of sales results — there was no additional motivation. The implementation of the sales plan was monitored only at the level of the entire bank, and not individually.
With the purpose of increasing healthy competitiveness and boosting sales, the bank developed a new model of sales management and employee motivation. However, the implementation of this new ambitious model required complete automation.
The automation involved the end-to-end setting and cascading of KPIs for each banking product (loans, mortgages, deposits, bank cards, etc.) at all levels of management (Central Office – Region – Branches – Sales Manager) followed by rewarding employees who met their KPIs, depending on their results.
Due to the size of the bank, it was practically impossible to qualitatively maintain such a process in the “manual” mode. At the time of the development of the new model, the bank did not have an automated system on the basis of which it would be possible to to carry out.
Nectain’s Task
Sales Process Automation and Employee Motivation Enhancement
We would automate business processes for managing sales of banking products and motivating employees in accordance with the new model.
Integrate Banking Products for Comprehensive Sales Analysis
In addition, Nectain would integrate the bank's existing products, such as BankMaster ODB and CardMaster card processing, into the new system to obtain actual results from the sale of banking products at all levels, as well as integrate with the bank's HRM system.
Solution Details
STEP 01 Cascading KPI Planning
Nectain implemented end-to-end cascading of sales KPIs from the Head Office level to each sales manager of the bank. Each manager received their planned KPI values for every planning period specific to each banking product. This meant that the head of the region received KPIs for their region, the head of the department for their department, and individual sales managers received their respective KPIs.
STEP 02 Automated Planning Process
Employees at every management level had the flexibility to select their own planning and control periods, whether monthly, quarterly, or annually. Once the planned KPIs were verified and agreed upon at all levels of the bank's management, Nectain automated the planning process for the bank’s new financial year.
Why Choose Nectain?
Reduce operational costs, speed up service delivery and ease compliance processes — all through one comprehensive platform.
Get a Demo
STEP 03 Integration of Actual Sales Data
Actual sales figures were automatically collected through integration from relevant banking systems - ODB BankMaster, CardMaster and DWH Vicont.
STEP 04 Performance Calculation and Bonus
For each manager, a consolidated performance indicator was automatically calculated, which was transferred to the bank's salary and bonus calculation system for calculation, as well as payments of the corresponding bonus were calculated in case of achievement of the indicators.
Project Highlights
800 active users
Staff members can visualize their KPIs and be rewarded for their efforts.
50% sales increase
Sales of banking products grew significantly 2 years after implementation.
3-month payback
The bank started seeing results shortly after the system’s implementation.
Results
Fast Development and Implementation
Nectain helped Raiffeisen bank to motivate its employees with the introduction of a comprehensive and efficient system to manage sales and motivate employees. Considering the bank’s extensive operations, the development and implementation process was swift, taking 12 months to complete.
User Base Expansion
Numerous employees are presently benefiting from the new system, managing the sales of its products. Nectain’s intervention involved several employees from the central office as well as regional branches. Today, we’re proud to say there are 800 active users.
Sales Growth Impact
With motivated employees who can now easily track their performance and be rewarded according to their contributions, sales of banking products have seen a significant increase. Just 2 months after implementation, individual and SMBs sales grew 50%.
Structural Reorganization
Raiffeisen bank has a full picture of their sales, which is based on individual performance and accumulated data for enhanced efficiency. Integrations with relevant banking systems automatically collect sales figures while KPIs are calculated and transferred to the system, resulting in a more organized process.
Payback Period
The hard work and close cooperation certainly paid off, and Raiffeisen bank did not have to wait for long to see the results. The payback period was approximately 3 months after the system’s successful development and implementation.
Step into the future
of intuitive document management
Step into the future You might also like
Healthcare
Ohmatdyt Transforms HR Operations and Cuts Admin Time With Nectain
Read More
3 min to read
