Contact CRMNEXT +91 22 6130 0900 get a demo get a demo
@{ ViewBag.Title = "Empower your workforce with next-gen CRM"; } @section metatags { }

Empower your workforce with next-gen CRM

The new small finance banks are working towards providing faster services, quicker response and lower costs by leveraging technology for automating operational processes.

Fintech start-ups and non-banking financial institutions (NBFCs) today are aiming to be the next banking superstars, giving banking behemoths a run for their money. They are pervasively embracing the use of integrated technologies and solutions. The end vision is to achieve a competitive advantage by providing exceptional service and differentiated experience to their customers. This has been prompted by new banking formats, regulatory requirements, customer expectations and increased competition. The new small finance banks are working towards providing faster services, quicker response and lower costs by leveraging technology for automating operational processes. And they are achieving their vision with the help of relationship innovation driven by digital technologies with powerful CRM solutions. For instance, ‘Bank in a box’ powered by CRMNEXT, is an integrated solution to help quick start banking operations with out-of-the-box processes and integration with core banking back office and third party systems. This will reduce time to go-live and launch new services in less than 60 days where traditional solutions took more than six months. CRM solutions can help small finance banks to enter new markets devoid of costly software and upscale investments in human resource and technology. The firms incur zero marginal costs as the underlying necessary codes have already been configured.

Some of the key functionalities are:

Seamless on boarding:

Banking CRM offers a single platform to conduct a wide array of business operations for financial services and banking. The functionalities include lead management, customer management, servicing, cross selling and marketing across channels including branch, phone banking, internet banking, website, etc. Process flows, escalations and alerts can be configured on the fly. It also supports biometric devices to enable e-KYC, available across all devices on a web-enabled mobile platform.

Wholesome service management: You get a 360-degree view of customer profile that captures recent interactions, transactional history, case history and much more, by fetching data from multiple systems. End-to-end process flows can be created, edited and deployed through visual process designers. Your workforce will have complete visibility of issues raised by customers, so that they have relevant intelligence and can give them status updates on demand. This will drive first touch resolutions and collapse service turnaround times from days to minutes to instant.

Productive campaign management: You can quickly create campaigns with automated budget approval and tracking. Calendars can be easily shared across teams for increased participation.

Empowered selling:

CRM solutions, with the help of intelligent automation, helps you to create end-to-end processes ranging from inquiry to fulfillment. With the help of visual designers, you can quickly create digital journeys by enable faster turnaround times. Empowered selling by CRM solutions helps to significantly increase sales conversions, without ‘selling’.

Team AI for assistance:

AI intelligence smartly assists you in deploying customised end-to-end processes with minimal manual intervention. The AI aids in machine learning that powers analytics. The insights derived give a real-time view of the complete business situation across customers and accounts.


CRM software is scalable and supports mobile and internet banking, ATM and POS switching, payment solutions and MIS reporting. The underlying architecture has codes that can be adapted to various business scenarios, without additional code writing.

Front/back office support:

CRM employs assisted banking to support both front and back office processes for end-to-end visibility. It comes with ‘plug n play’ capability to integrate with core banking and other business systems. A newly minted small finance bank in Asia wanted to quickly establish a commanding lead in the sector. The prime catchment were rural areas. They deployed CRM solutions to achieve their goals. Field workforce was well equipped with mobile biometric devices for eKYC, which was integrated with credit rating agencies in a single powerful CRM platform. They were able to quickly acquire customers and broke even in their operations at the ninth month itself. Never has banking competition been so intense. But, customers are ready to be wooed by the next generation of small finance banks. Assisted banking by CRM solutions has enabled new banks and financial institutions to offer solution-based services at reduced cost. Better still, it has enabled them to explore untapped opportunities and most importantly, helped boost their bottom-line as well.

The writer is director – strategy & customer advocacy, CRMNEXT, a cloud CRM solution provider