utah.bank 26 Consistent, Accurate Product Recommendations at AccountOpening Engage consumers and small businesses the moment they open an account —online or in-person Consistently Match Account Holder Needs with Relevant Products Matching consumers to financial products and services today is complex – it can be difficult for customer service representatives to consistently gain an understanding of each new account holder’s financial situation and needs. Inaccurate recommendations caused by human error or bias lead to less-than-optimal product recommendations. When given the ability to self-select products, when opening accounts online, consumers select the most appropriate products only 30 percent of the time because they lack a deep understanding of the products and services being offered. Account Advisor Guided Product Selection Now there’s a way to engage consumers and small businesses and make accurate, consistent product and service recommendations that meet their unique financial needs and challenges. Account Advisor allows financial institutions to use digital conversations to engage retail and small business customers, empower employees and ensure customers are always presented with products appropriate for them. Account Advisor is also equipped with the IQ Analytics portal which provides advanced reporting and gives stakeholders such as sales representatives, managers and product management important insights into the efficiency and effectiveness of every customer interaction. Research shows that using Account Advisor’s guided product selection leads to 98% percent of consumers selecting the products that best fit their needs.1
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