Driving BFSI Sales Growth 
Using a Tech-First Approach

Boost revenue through strategic optimization of BFSI sales

BFSI Sales Landscape Today

BFSI (Banking, Financial Services, and Insurance) sector has shown a remarkable growth in India, hitting record-high earnings in the Q4 of financial year 2023 compared to other quarters of the year. The BFSI sector sales growth has been recorded due to businesses continuous practice of catering to dynamic customer behaviour by becoming digitally empowered, i.e., leveraging today’s digital advancements. Technology implementation can be seen across the complete BFSI industry such as branches, distributor networks, partner networks, sales teams, etc.

In today's dynamic business landscape, the BFSI sector faces numerous challenges in effectively scaling sales calls while maintaining flexibility and optimizing costs.
SquadStack's AI-driven alternative to traditional telecalling setups enables BFSI sales calls to scale with flexibility, lower customer acquisition costs (CAC), better insights, and improved conversion rates.

Book a Consultation Now
Learn how you can outsource a Telecalling team with SquadStack!
We respect your privacy. Read our Policy.
Have specific requirements? Email us at: sales@squadstack.com
Trusted by Leading Businesses

BFSI Sales and the Role of Technology

Blockchain and Banks
Blockchain and Banks

At present, blockchain technology has helped many banks reduce fraud, secure customer identities, and simplify cross-border payments.

AI and Financial Institutes
AI and Financial Institutes

Many financial institutions have also leveraged AI to understand customers' behaviour and preferences, provide recommendations, predict budgeting insights, etc.

AI and Insurance Companies
AI and Insurance Companies

Data analytics and AI have helped the insurance sector to personalize products, enabling them to enter the untapped market.

NLP and Financial Institutes
NLP and Financial Institutes

Chatbots and virtual assistants, powered by NLP, allow institutions to manage customer inquiries and transactions 24/7, reducing costs and improving customer service.

The Utilization of Tech Boosts Revenue via
Shorter Sales Cycles
Improved Customer Services
Optimized Operational Efficiency
Reduced Costs
Improved Profit Margins
BFSI Sales solutions
Manoj Kumar Dronadula (Product, Growth, and Partnerships, MoneyView) shared his experience of working with SquadStack as outsourcing Partner.

BFSI Sales Challenges:
Scope for Optimization

  • A big challenge in BFSI sales is lead drop-offs. These happen when potential customers lose interest or don't get assistance during the sales process and decide to discontinue. From market volatility to regulatory changes, BFSI sales can be challeging. However, amidst these challenges lies a wealth of opportunities for optimization.

    BFSI sales present numerous challenges, they also offer immense potential for optimization and growth. By embracing technology, streamlining processes, investing in training, and forging strategic partnerships, sales teams can overcome obstacles and capitalize on opportunities in the dynamic world of BFSI.Read More

  • Embrace Technology: Using cutting-edge technologies such as AI, data analytics, and CRM systems can enhance sales efficiency and effectiveness. By harnessing data insights, sales teams can personalize their approach and anticipate customer needs.
    Read More

  • Streamline Processes: Simplifying sales processes and improving customer experience. Automation tools can help connect with a large number of customers in a very short span of time. Squadstack allows you to scale and descale telecalling campaigns as per need.Read More

  • Forge Strategic Partnerships: Forge Strategic Partnerships:Collaboration with other digital transformation stakeholders like squadstack can provide innovative solutions. We've established a versatile, cost-effective, secure, and analytics-rich telecalling team to assist you in disbursing more loans.Read More

  • BFSI companies need to find ways to simplify their sales process, educate customers better, and keep them engaged.Read More

How to Optimize BFSI Sales: 
5 Things to Remember
The scope of optimization has stepped into the picture because of the significant changes in the BFSI landscape due to increased competition,more informed customers, and their preference towards digital platforms.

When it comes to customer assistance and support, BPOs and call centers operate as 'body shops' vs. driving their own 'centers of excellence.

Continuous Agent Training 
and Development

Consider investing in agents' training and development programs that enable sales teams to enhance product knowledge and skills, such as convincing, and better objection handling.

You can opt for multiple training mediums, such as weekly training sessions and quiz assessments. Make sure to provide regular feedback to keep your team engaged and motivated.

Continuous Agent Training 
and Development

Measure and Optimize Performance

If you have a team of six members and your monthly business is six lakhs, then mathematically, the average productivity of every rep is one lakh a month. However, the reality differs. Generally, most deals are closed by the team's top performers (usually 10%).

To optimize your agents' performance, assign KPIs (Key Performance Indicators) to measure.

💡 KPIs could range from attempted leads, on-call hours, AHT, average deal size, dial-to-convert(%), connect-to-convert(%), 
CSAT scores, and more.

Measure and Optimize Performance

Utilize Data Analytics

The data analytics and business intelligence tools enable 
you to gain insights into:

  • Customer preferences, behaviour, needs, pain points, and buying patterns
  • Agent's accountability (such as handling customers and objections, pitching the solution, and resolving queries)
  • Market trends, opportunities, and scope of improvements

These insights allow BFSI businesses to make data-driven decisions and develop targeted sales strategies.

Continuous Agent Training 
and Development

Reduce Manual Tasks

A multi-touchpoint strategy involves reaching customers via multiple channels, such as email, phone, WhatsApp, SMS, IVR, etc. Businesses can use a combination of channels to provide information and assistance, address queries, follow up, and push the lead through the funnel.

You can use different marketing automation tools to set up automated workflows that schedule and trigger messages.

💡 By adopting omnichannel outreach, you can deliver personalized experiences, drive better sales, and engage with customers across the journey.

Measure and Optimize Performance
Expected Outcomes of BFSI Sales Optimization
The BFSI sector struggles to acquire and retain customers due to users’ evolving needs. With a growing digital population, customers expect businesses to respond faster and provide personalized services and seamless digital experiences.

The correct optimization can yield significant results for the BFSI businesses, including:
Improved Conversions
Higher Customer Lifetime Value
Reduced Customer Acquisition Cost
Increased Revenue
Improved Operational Efficiency

BFSI Sales and Solutions offered by SquadStack

Asset / Lending
  • Welcome calls
    Welcome Calls
  • Convert to EMI
    Convert to EMI
  • Personal Loans
    Personal Loans
  • Business Loans
    Business Loans
  • Early Bucket Collections
    Early Bucket Collections
  • Cross Sell
    Cross Sell
  • Credit Cards
    Credit Cards
  • Credit Cards
    KYC Completion
Asset Lending
Brokerage / Wealth
  • Cross-Sell
  • Account Opening
    Account Opening
  • Account Activation
    Account Activation
  • Account Reactivation & Re KYC
    Account Reactivation & Re KYC
    Brokerage / Wealth
    Logistics & E-Commerce Marketplaces
    • Abandoned Cart / Assisted Sales
      Abandoned Cart / Assisted Sales
    • Non-Delivery Returns
      Non-Delivery Returns
    • Control Tower
      Control Tower
    • Blue-Collar Workforce
Hiring & Management
      Blue-Collar Workforce Hiring & Management
    • Seller Onboarding & Management
      Seller Onboarding & Management
    logistics & E-commerce
    Consumer Durables
    • Store Walk-Ins
      Store Walk-Ins
    • Feedback Calls
      Feedback Calls
    • Reactivate Old Customers
      Reactivate Old Customers
    • Service Reminders
      Service Reminders
      Consumer Durables

      Kickstart Your BFSI Sales Campaign in 48 Hours

      Watch the video to understand how our Plug-and-Play 
solution works and how to set up your campaign.

      Set up Your Telecalling 
Campaign Today!


      “It is a very cost-effective model and has been extremely helpful for us. It is ever-evolving, 
user-friendly, and lucrative unless there are people who don’t want to try new things.”

      Ishita Shah,
       Program Manager at Delhivery

      “Their app and the structured approach to calling have been game changers for us. 
Having a clear, organised process for the callers to follow has made all the difference 
and this shift has created a lot of other cascading benefits for us.”

      Praveen Jain,
       Product Manager at Moneyview

      “With SquadStack, we've achieved a great scale while keeping the costs in control. Leads are properly allocated to ensure we have a great TAT, leading to a higher connectivity rate.”

      Ronak Agarwal,
       Head of Marketing at Choice

      “Outsourcing to SquadStack gives us a lot of flexibility. To do anything in-house, you will 
need a lot of time to scale up and execute things at a fast rate. We found a great partner 
in SquadStack, who helped us achieve our growth goals”

      Satyartha Srivastava,
       Customer Success Lead at Upstox
      Testimonials user
      Testimonials user
      Testimonials user
      Testimonials user