Problem
Our client, a regional bank in Tennessee with 14 branches and over $1B in assets, was facing increased competition in account growth. They were concerned about the high cost of marketing spend to drive growth and the quality of leads they were receiving.
Solution
The bank enabled Konduit’s Hyperlocal LeadGen solution. The bank chose a 5-mile radius around its branches and configured Hyperlocal LeadGen to pull leads that met its credit eligibility, within this radius, in real-time. Credit eligibility was based on FICO, DTI cut-off and a dozen credit knock-outs. The bank saw 350% growth in funded loans through Hyperlocal LeadGen over a 5-month period. The solution was a much more cost-effective than their existing channel that was primarily web advertising.