Refi.com, an organization that offers mortgage loan refinancing, partnered with VoiceSignals to boost profit by increasing the average call-to-fund rate. VoiceSignals’ People Intelligence Platform (PIP) analyzed conversations between Refi’s sales agents and customers. The platform revealed the key personality traits distinguishing Refi’s mortgage loan applicants who completed the transaction by funding a loan versus those applicants who did not complete the mortgage transaction.
A Machine Learning algorithm was developed that accurately identifies a prospect/caller who funds versus those who apply but do not fund within a minute of a phone conversation. Using this predictive behavioral intelligence, Refi can develop strategies to increase conversion rates. A second opportunity to boost conversion rates was identified by reviewing the PIPs analyses of the sales team. The key traits associated with sales agent success and the optimal sales approach for agents to use with Refi’s prospective borrowers were identified. Opportunities for the strategic hiring of new salespeople based on their personality traits and training for existing sales agents are discussed.
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