Change can be surprising, change can be invigorating, change can be...good for business!
Take, for example, the Huntington National Bank. Founded in 1866, it's now a $56 billion financial services organization with 690 bank branches and more than 11,000 employees in six US states.
Staff members working for the retail banking division interact with customers through a variety of channels: by phone, in traditional branches,and in convenience branches in locations such as grocery stores. Unfortunately, each channel had its own systems and processes for managing employee incentives and compensation.
That's changed, since the bank implemented IBM Cognos Incentive Compensation Management. This flexible solution addressed the problems associated with having many different channels. It provided more visibility into (and control over) how incentives are structured. And it reduced lead times for many incentive scheme adjustments from six weeks to within 24 hours.
The benefit? As Huntington Bank vice president Barbara Weigel put it: "With help from the IBM Cognos team, we’re confident that our single platform for compensation management will be a game-changer in terms of business agility and sales performance."
You can hear more about solutions like this at the IBM Banking Summit 2013, taking place September 17at the Marriott Marquis in New York City.
This free, half-day event will look at three ways that banks can gain the greatest return on their investment in analytics, and gain the greatest competitive advantage:
- Accelerating the shift towards becoming a profitable, customer-focused bank
- Driving competitive advantage through risk-aware decision making
- Optimizing channel strategies and using incentive compensation management as a competitive weapon
Change is in the air
At the IBM Banking Summit, your peers, IBM and industry experts will share their views on the challenges banks face today, including the need to develop effective sales performance management strategies.
Register for the IBM Banking summit.
For more details now about what IBM offers banks, view these resources: