Remote Expert for Retail Banking Infographic: Calculations

Remote Expert for Retail Banking

Learn how to provide personalized service with two-way video that connects customers to a financial expert. (PDF - 1.6 MB)

Remote Expert for Retail Banking

Calculate the Benefits of Cisco Remote Expert

The benefits estimates that the Cisco Remote Expert for Retail Banking Infographic display are generated by the Cisco Remote Expert ROI Modeling tool. The modeling tool calculates revenue and net present value (NVP) investment benefits by using:

  • Models that have been developed from implementation experience
  • Industry data from financial services experts and analysts

Cisco Remote Expert Benefit Methodology

The Cisco Remote Expert Infographic displays the benefits of using the Cisco Remote Expert for Retail Banking solution. These benefits are estimated from the incremental revenue capture from two primary sources:

  • Reduced "leakage" by compensating for inadequate in-branch capacity to fully meet customers' needs
  • Cross-selling and upselling by adequately serving a greater percentage of branch customers in a single visit

Benefits from productivity savings, travel reduction, and other areas are not included in the infographic. However, they do represent additional benefit opportunities that are determined by the modeling tool.

Cisco Remote Expert ROI Tool: Baseline Data

To use the Remote Expert ROI Modeling tool for the infographic, Cisco established a conservative baseline data set. This data set models the business characteristics of a retail bank.

Certain banking assumptions are applied consistently within the infographic to three branch product sales opportunities:

  • Small business loans
  • Mortgage lending
  • Home equity line of credit (HELOC)

Those banking assumptions are:

  • Average loan size - small business loan of $75,000, mortgage of $200,000, and HELOC of $50,000
  • Average product profitability - three percent for all three product categories
  • Monthly average number of leads per product - 20 per branch for all three product categories
  • Application-to-close ratio - 35 percent for all three product categories

The following Cisco Remote Expert solution assumptions are also applied consistently to all scenarios to generate the benefit figures in the infographic:

  • Ratio of branches to remote experts: 3-to-1
  • Number of video units per branch: 1
  • Increase in benefits: 25 percent for year 1, 50 percent for year 2, and 100 percent for year 3+
  • Sales percentage improvement (lead conversion to application): 5 percent for all product categories (from 75 to 80 percent conversion)

Using these business and solution assumptions, the benefit figures are generated based on the user-supplied data from within the infographic. The revenue-generating potential of the Cisco Remote Expert for Retail Banking solution is then estimated.

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