Banking Technology

Five-to-Thrive: 5 Ways Banking CRMs Help Financial Institutions Thrive


1. Superior digital customer engagement powered with AI. 

  • The right CRM solution designed specifically for banking can deliver a holistic customer 360 view that tracks customer transactions, purchase patterns, current cases and more – all in a single window.
  • “Quick action” links and streamlined processing can enable relationship managers to handle routine queries and requests with expediency.
  • And AI with machine learning applied to customer data can produce guided next-best actions that deliver improved service and engagement.


2. Tighter risk management. 

  • How banks control risk can be a great differentiator when it comes to success. Accurate risk assessment empowers financial institutions make the right decisions, quickly.
  • Tighter risk control mechanisms can also improve asset quality and help banks capture more customers with higher credit quality.


3. Pricing excellence backed by analytics. 

  • With the unified data and extensive modeling that a quality banking CRM provides, bankers can identify and capitalize on better, more effective pricing opportunities for their financial products.
  • Such a solution delivers advanced analytics on customer profile and competition intelligence at a drilled-down, granular level.
  • Ensuring effective pricing can prevent revenue and customer leakage.


4. Best-in-class customer segmentation. 

  • Powerful analytics built into CRMs for banks and credit unions enable them to have customer-centric segmentation with personalized value propositions across products, service and channels.
  • Such targeted segmentation can empower bankers to embrace agile practices and eliminate silos.
  • They can also quickly reconfigure marketing campaigns without compromising on convenience, value and speed.

5. Higher performance management.

  • Highly successful banks have high revenue-to-cost ratios, thanks to a super productive sales workforce. Effective performance management modelers in banking CRM solutions can act as a catalyst to the overall sales process.
  • Such modelers help in keeping a track of previous set targets vs achieved numbers for further sales forecasting.

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