Every industry is evolving in this digital era and banking world is no different. Today, modern banks are using the latest ways to interact with customers. CRM software is the new tool that banking industry is exploring. The CRM professionals have exclusively designed CRM software for banking processes.

Over 60% of customers prefer personalized interactions to keep up the business. Banking customers are alike- they want to feel like their bank thinks about them and can serve as per their needs. This begins from the first point of contact and continues with every interaction across their financial journey.

The software not only benefits the customers but also the management staff as it streamlines the workflows and combines them into just one intuitive interface. Customers are allowed to handle their accounts in self-service portals. CRM systems are designed to bring convenience and organized management to the banking industry.

Out of so many, which CRM software is ideal for banking?

We hope that you have already read articles about the significance of CRM in financial institutions. Here, we will tell how to choose the best-fit CRM software for banking.

Although, there is no such software available since any CRM software works fine in any financial institution if only it is programmed as per the individual needs. Every product of CRM is specialized in distinct areas. Getting the product that is built up with the best features is what most banks expect and choose for their institutions.

Here are some CRM software solutions made for banks. Financial institutions can choose the software as per the fit-

Salesforce Sales Cloud

Salesforce brand needs no introduction. It offers a module for financial institutions. Salesforce has an industry-specific CRM named as Financial Services Cloud that is designed specifically for banking and financial institutions. This CRM software has in-built integration with MuleSoft AnyPoint that offers 360-degree customer view.

Integrated customer portals allow users to access data related to their financial needs in a protected ecosystem to assist agents to resolve issues inefficient way. It has a feature of online case management which lets users access and edit service cases from any location using their mobile device.

Most interesting benefit of this banking software is its customer engagement hub. This enhances the user experience through different channels. It creates customized journeys for individual bank customers so that they can have their personalized user experience.

Bpm’online

Bpm’online brings CRM software that acts as a perfect fit for banking institutions. The software supports the complete bank management cycle. Users are able to track execution stages and the managing parties for every step of separate projects and processes.

Retail banks can have more cross-selling and up-selling opportunities with the help of next step feature included in this CRM. Agents can manage customer interactions like never before and evaluate customer satisfaction with the help of an intuitive customer care portal.

Other additional capabilities of this CRM software make the product best one for banking services, such as collaboration tools, account management, product management, knowledge management, sales forecasting, etc.

Other than these two software solutions, there is SugarCRM and Pega CRM software that are specifically made for the banking and financial institutions.

These software products are made for enhancing the efficiency of the employees in the banking industry. For productivity, there are some important CRM dashboards that every banker can consider for use. Let’s learn about these dashboards in brief-

1. Branch scorecard dashboard

It offers instant and concise ways to measure Key Performance Indicators and provides a clear view of the performance of the branch to achieve its goals and targets.

Deposits are the cornerstone of retail banking and it is crucial to emphasise on the overall deposit growth of the bank along with the deposit performance of individual branches. The dashboard allows viewing the breakdown of products and services inside a branch to detect extra referral opportunities. It also highlights the ability of the branch to grow deposits within its running branch.

2. Retail and commercial overview

More banks use credit culture terms to talk instead of the deposit culture. However, deposit culture is also critical as it focuses on sales leadership, measuring sales and marketing goals, and sales governance.

A sales overview dashboard offers insights related to marketing that can be used to measure the effectiveness of each marketing campaign.

3. Retail CSR dashboard

A CSR(Customer Service Representative) dashboard can act as a cockpit for bank reps since it offers information in a simple and accessible manner.

4. Customer Account overview

Scattered customer details make it impossible to achieve a clear picture of a customer and his lifecycle throughout products and services. Banks need an integrated, single view of the customer for quality processing and a consolidated profile of the customer brings new opportunities that further enhance banks’ customer relationships.

Bank institutions can avail of these dashboards and many more from Nex CRM for banking powered by Microsoft Dynamics 365 operations partners. For more details, connect with the team and get the quote for your desired service.