Customer Story

Challenges

As the private bank expanded its client portfolios, leadership felt increasing pressure to modernize how advisors were motivated and rewarded. The traditional quarterly payout model was no longer effective—it failed to reflect real-time performance and offered little encouragement during mid-cycle periods. Advisors lacked clarity on where they stood, while managers struggled to identify performance gaps early.

The bank needed a real-time, automated, and insight-driven incentive framework that could boost advisor motivation, reduce attrition, and create a culture of continual performance visibility.

Key challenges included:

• Limited performance visibility: Managers could not track real-time advisor metrics such as AUM, SIP growth, or renewals.
• Delayed rewards: Quarterly payouts led to performance dips during long gaps between reward cycles.
• Fragmented tracking: Different tools for AUM, commissions, and CRM created inconsistent reporting.
• High attrition: Lack of milestone-based recognition made it harder to retain mid-level performers.
• Managerial blind spots: Leaders had limited ability to coach underperforming advisors proactively.

Personas Involved

• Wealth advisors and relationship managers: Managed client portfolios, SIP renewals, upsells, and new AUM generation.
• Branch and regional managers: Monitored AUM targets, advisor performance, and incentive achievement.
• Sales excellence and incentive teams: Designed incentive logic, payout rules, and performance frameworks.
• Senior leadership: Tracked revenue progress, advisor behavior patterns, and long-term productivity trends.
• Data and analytics teams: Supported real-time dashboards, forecast models, and performance insights.

The Solution

With Xoxoday Compass, the private bank replaced outdated quarterly cycles with a real-time, transparent, and gamified incentive model. The platform allowed advisors to see earnings instantly, track progress, and stay motivated through continuous recognition. Managers gained deep visibility into performance trends, enabling early coaching and stronger team alignment.

The solution shifted the incentive culture from delayed payouts to immediate gratification, data-backed decisions, and continuous performance improvement—turning advisors into active participants in their own growth.

Key components of the solution included:

1. Milestone-linked incentive structure: Designed incentives tied to revenue and activity milestones, such as ₹1 Cr in new AUM, 10 SIP renewals, or consistent monthly client engagement. Advisors received instant digital payouts, badges, and recognition whenever milestones were achieved, keeping them motivated throughout the cycle.
2. Dynamic dashboards for advisors: Enabled real-time tracking of commissions, target progress, incentive earnings, and client milestones. Advisors could visualize performance gaps clearly and take immediate corrective action.
3. Manager dashboards and insights: Provided branch managers and regional heads with live ranking boards, team scorecards, and comparative performance analysis across products and territories.
4. Gamified motivation model: Introduced monthly contests, achievement badges, and tier-based rewards to create healthy competition among advisors. Top performers were featured in internal newsletters and received access to premium reward categories.
5. AI-driven insights for proactive coaching: Predictive analytics highlighted advisors at risk of underperforming or slipping on targets. Managers received automated signals to intervene early with guidance, training, or personalized nudges.
6. Transparent payout automation: Eliminated manual intervention by triggering real-time payouts directly from CRM updates. Advisors benefited from instant, error-free transactions that reduced frustration and improved trust.
7. Recognition-led culture shift: Created weekly and monthly recognition moments— spotlighting top achievers, milestone winners, and consistent contributors across branches—helping build a performance-first culture.

Impact

• Advisor retention: Improved by 28% after milestone-driven incentives were introduced.
• Revenue realization: ₹3 Cr+ processed quarterly through instant, transparent payouts.
• Dispute reduction: Commission discrepancies decreased by 35%.
• Managerial oversight: Real-time dashboards delivered 100% visibility into branch and advisor performance.
• Engagement rate: 85% advisor adoption achieved within 45 days of rollout.

Conclusion

By digitizing its incentive program with Xoxoday, the private bank created a culture of continuous recognition and performance clarity. Real-time insights, milestone-linked rewards, and gamified dashboards replaced slow, quarterly reward cycles—turning incentives into a powerful engine for advisor motivation and revenue growth. The transformation strengthened retention, enhanced transparency, and unlocked measurable AUM expansion across the advisor network.