Mortgage Loan Cross-sell

Automation Hero can suggest that bankers attempt to cross-sell mortgages to current customers who show home-buying behavior to cut customer acquisition costs.

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Only 20% of banking customers have a mortgage with their primary bank (Mortgage Bankers Performance Report). With customer acquisition costs (CAC) sitting at $7,747 for a new mortgage customer (Propeller CRM), cross-selling these loans to existing customers is an opportunity many banks are missing.

CAC can drastically be reduced by implementing Automation Hero to suggest that bankers attempt to cross-sell mortgages to current customers who show home-buying behavior. These could be triggered by changes within that customer’s account, such as a new direct deposit indicating a new job, or other indicating behaviors.

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