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Market Leading Web Loan Organization

About

A large online lending organization servicing the underbanked US Market was going through a management transition. They utilized FidoTrack Gamification to assist in narrowing the focus on a select set of goals.

Challenge

Deliver on loan funding service agents and supervisors objectives.

1. Create an engaging technology experience that is enjoyable and easy to use for their agents.
2. Effective management tool for Supervisor especially the Coaching.
3. Increase Max Loan KPI above their 3-month average of 75%
4. Increase Funding Per Hour KPI above their 3-month average of $841.00 per agent.

Summary of Objectives

FidoTrack Gamification Solution:
Tightly manage agents and supervisors to performance goals through an integrated set of engagement,gamification, skill-development tools and consultative meetings. These mechanics were focused around affecting behaviors.
The Management Team identified key areas to focus on quantifiable outcomes and came up with 3 main objectives that had historical precedent and added a lift % that was to be associated from FidoTrack Gamification.

The Goals of the Pilot

1. 70% Conversion Rate
2. $1,000 Funding Per Hour ($159.00 or 19% increase over 3 month historical average of $841)
3. 80% MAX LOAN (5% percentage points or 6.7% increase over 3 month historical average of 75%)

Results

Max Loan Goal

60-Day Performance

91.2% Actual with FidoTrack
80% Goal
75% 3 mo. average w/out FidoTrack

Funding Per Hour Goal

60-Day Performance

$1013 Actual with FidoTrack
$1000 Goal
$841 3 mo. average w/out FidoTrack

Conversion Goal

60-Day Performance

100% achieved Goal of 70%

Summary of Results
Agents, Supervisors and Site Directors were provided a transparent view of the production landscape. Company Goals which were outlined by the organization were clear and their progress was easily tracked. Healthy competition through transparency was evident in Contests and Duels which instantly improved productivity and efficiency. The integrated Coaching allowed Supervisors to immediately engage Agents specifically related to their progress toward the highly visible Company Goals (see Agent and Supervisor Dashboard). Utilizing FidoTrack Gamification generated a significant increase on two (2) of the Goals;
Funding / Hour and MAX LOAN and met the Goal on the 3rd; Conversion.

“Simplifies running KPI improvement Contests … our CPH increased 29%”

Game Master E.Figueroa

Comments from Game Master E.Figueroa
“Eliminates time-consuming manual reporting”
“Simplifies ways to identify Agent Coaching opportunities”
“Simplified challenging an employee to reach goals”
“Helped keep employees motivated in a fun fashion”

FINANCIAL BENEFIT
Funding Per Hour

Gain on Goal: $38,194
Gain on historical average: $505,336

FINANCIAL BENEFIT
Max Loan

Gain on Goal: $268,800
Gain on historical average: $388,375