The main paramount for organizations working in financial services, as in any other industry, should be the client loyalty, especially with the competition increasingly growing, trying to snatch customers away. That’s why banks are constantly looking for innovative ways to deliver a superior product and service. However, today’s financial institutions have to go an extra mile to stand out from the crowd. Thankfully, there are advanced CRM tools that are designed in a way to fill the lack of innovation at your bank and help you switch from a product centric approach to a customer-facing strategy. When chosen correctly, client relationship management can deliver a variety of initiatives — lead management, marketing, service and support for maintaining the highest possible level of customer relations management.

Advanced financial services CRM empowers bank employees to take every client interaction and turn it into more valuable opportunities, while ensuring a higher level of income and boosted customer loyalty.

Here’s a list of 3 CRM solutions for financial institutions that help them run a profitable business:

Bpm’online

Bpm’online CRM is a cloud-based software designed to help users increase profitability, boost customer retention, and effectively manage opportunities and risks with features that are developed to meet the needs of the banking industry. Being supplied with a set of features for managing information about customers, their preferences, needs, and interaction history, bpm’online provides banks with the necessary capabilities to help them build more profitable relationships and keep track of internal and external processes. This enables corporate, retail banks and other financial institutions to gather the necessary data for managing the complete customer journey and enhance customer experience. The solution also enables users to easily automate routine tasks in order to free employees’ time and increase the company’s win rate by more efficient campaigns, lead and opportunity management. Moreover, bpm’online provides an engaging and easy-to-use interface,  which allows users to get the information they need instantly from any device: phone, tablet or laptop. This interface with a social look and feel provides and outstanding experience for users from branches of all levels, which reduces the training time and increases the end-user adoption rates.

In order to better meet the needs and requirements of financial institutions, bpm’online offers three different products: bpm’online bank customer center - a set of tools for bank front-office and contact center management; bpm’online bank sales - the user-friendly system that enables banks to design and manage end-to-end sales processes of financial services; bpm’online marketing - the unique software developed to boost demand generation with intelligent personalized campaigns, as well as reach a complete new level of personalization across multiple channels. All of these three packages include core features such as a 360-degree customer profile, which helps create a complete database of potential and existing clients of your bank. The 360-degree customer profile option allows banks to design an efficient communication plan to provide clients with the most relevant financial products and boost loyalty at the same time. Additionally, bpm’online’s solutions for banks and financial institutions offer a variety of other useful features like collaboration tools, business process management, case, incident, and opportunity management, out-of-the-box processes as well as integration with other third-party systems for finance management.

SAP

SAP CRM software refines the way financial institutions engage with customers in at way that makes it easier for users to drive transformations and simplify business processes. SAP CRM offers operational efficiencies by unifying processes within the service, sales, and marketing teams. SAP CRM helps banks increase these economies by improving user efficiency through system performance. The CRM system is designed to transform and adapt the changing business models of the modern financial institutions with comprehensive software for finance and accounting management. The system allows banks to bring together financial services, customer servicing and analytics to automate and give forward-looking businesses insight across the corporate landscape in real-time. This enables SAP’s solutions to help finance teams create a competitive edge for their organization.

SAP can help financial institutions ease the transition and increase the true value of financial management solutions. SAP CRM Finance allows banks to run mission-important processes in real time – on a simple solution architecture. Also, SAP helps organizations to create value by delivering instant results that facilitate fast and informed decision making.

Microsoft Dynamics

Microsoft Dynamics CRM was developed to help banks and financial institutions to rationalize their key processes, such as account case escalation and loan origination with adjusted workflows and dialogs, as well as easy onboarding. This allows users to spend more time on cross-selling opportunities, as well as ensures that pricing and banking policies are aligned to the business strategy. This provides more opportunities for increasing the income level and managing risks by determining and eliminating the risk-elevating processes. With Microsoft Dynamics CRM banks can also slash operational costs across various channels, call centers, and offices and therefore decrease the amount of administrative tasks with productivity features. The CRM solution allows financial institutions to win loyalty and trust by implementing the customer-facing processes thanks to personalized client services. 

Workflow automation offered by Microsoft enables users to adjust operational efficiencies while freeing time to pursue their key competencies. Customization and integration with bank’s existing IT infrastructure helps reduce the cost of implementation, as well as empowers users to deliver more informed and effective resolutions. Microsoft Dynamics CRM helps banks and financial institutions control sales activities, identify key changes, and track which customers are the most valuable due to integrated analytics and real-time dashboards.

Conclusion:

Working in the financial industry, which helps businesses reach their goals, you have to deliver an exceptional customer experience in order to stay competitive. With the changing economic and regulatory landscape, as well as your bank’s goals in the future, you need a fail-proof CRM solution that can serve as a strong foundation for your bank to grow. Unlike niche CRM products that are originally one-dimensional and unchangeable, the right CRM for financial services can provide a sufficient scalability level to grow with your organization and the ability to swiftly adapt to changing business processes providing capabilities to put any strategy into operation. That’s why it’s critical to find the one that meets your bank’s requirements and needs.