Banking CRM software: the excellence of customer journey

Over recent years, the banking industry has changed unprecedentedly. Ever-increasing regulatory pressure, evolving Internet technologies, and fierce competition force financial institutions to find a brand new approach to the way they treat their customers.

Empowered customers want banks to cooperate with them through those communication channels, which they like most of all and always give customers the excellent level of service whether it is mobile banking, social media correspondence, or bank branch visit.

To meet customers’ expectations serve their needs faster and better and take the most out of every touch point, loan companies switch to banking CRM software, which is aimed at helping organizations deliver personalized service and provide clients with relevant banking products at the proper time.

Sophisticated CRM solutions for banks help loan companies manage every aspect of bank-customer relationship – from reaching out to certain clients via their most preferable communication channel to automating end-to-end sales processes and ensuring continuous business growth. For example, bpm’online, the pacesetting technology in banking CRM software, can holistically integrate into any company-wide systems and applications to provide its users an instant 360-degree view of their customers from any routine business operations, such as cashiering, loan application processing, or account opening and banking services agreement. Put it simply, the finest bank CRM program allows for tracking, measuring, and analyzing customer behavior to enable bank managers to act upon this information.

The checklist of banking CRM features

A smart CRM system is meant to empower financial institutions to identify customer needs and add value to daily bank operations. For this, corporate banking CRM provides a comprehensive range of tools to:

  • Create and maintain advanced client database with a complete payment and communication history;
  • Capture track, qualify, and manage leads through diverse open sources;
  • Segment customers according to certain parameters to perform target marketing and bulk emailing;
  • Design bank products catalog aligned with customer needs, using a user-friendly CRM banking software;
  • Provide frontline bank personnel with individual digital workplace to carry out tasks, resolve delegated customer cases, and monitor own performance;
  • Build customer-facing business processes to automate recurrent bank operations;
  • Support document lifecycle management to create and utilize any type of document within bank CRM software;
  • Collaborate with clients and teams using the unified communication panel;
  • Process payments and quotes to eliminate any human-factor errors;
  • Develop a powerful knowledge base to quickly access any corporate digital content (articles, presentations, guidelines);
  • Plan and execute efficient multichannel marketing campaigns and evaluate their success;
  • Extend the bank CRM system to a personalized mobile application to respond to customers instantly via any handy device.

The extensive functionality of a good banks CRM suite provides loan organizations opportunities to build long-term relationships with the most profitable customers and develop the products and services that will be highly welcomed by the target audience. The robust analytical features of banking CRM software provide the ability to track and measure the efficiency of promotional activities, identify bank top-performers, get relevant statistics per branch, manager, service, etc., and perform data-driven sales forecasts.

TOP5 CRM software for banks

Investing into the right CRM software for banks

Picking the best CRM for banks is a challenging task as modern solutions have only one thing in common: they all are different. However, advanced CRM in the banking sector must provide key tools for sales, marketing, and customer service along with possessing powerful integration capabilities and be suitable for cloud, on-premise and hybrid use. Our TOP 5 best Banking CRM Software is to facilitate the right decision-making:

  1. bpm’online financial services is a full-featured CRM for banking encompassing best-practice methodologies to enhance bank customer experience, manage important sales processes, and execute target marketing campaigns. The solution crowns the top of the list for the three products aligned on a single process-driven platform, enabling for a complete customer journey – from lead generation to repeat sales and service provision.
  2. Pipedrive can be a quite useful CRM in the banking sector as the program supports lead management, sales forecasting, marketing management, account alerts, and opportunity management. But the limited integration with other bank systems and compromised files/content migration put Pipedrive on the second place in our list.
  3. SugarCRM is a good candidate to help banks establish productive relationships with customers. The features checklist of this CRM for banking is really impressive including asset management, task management, and customer journey management. The only drawback of this application is that it gets slow and unstable once a depository institution grows and increases the number of its personnel.
  4. Microsoft Dynamics is a popular CRM in the banking industry as it can serve numerous needs of financial services companies including sales force automation, social engagement, and complete payment management. Still, a difficult navigation, complex interface, and the risk of wiping out any customization after a regular platform update are serious pitfalls.
  5. Insightly is an example of intelligent CRM banking software: the program can collect and manage data from open sources, help participants execute projects, and keep the history of customer communications and transactions. Nevertheless, the solution sometimes fails to properly synchronize with Google services and print documents from the CRM system.

In the modern highly competitive environment, client loyalty is imperative. Banks are required to reconsider the ways of improving service and meeting customer interests. If chosen properly, CRM in banks will contribute to continuous business growth by enabling the financial service companies to build strong relations with their existing customers and effectively attract new ones.

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