Financial market is highly technology driven and one of the largest buyers of CRM solutions. The adoption rate is high among banking, brokerage and retail financing service sectors. Process automation has helped finance industry to offer improved customer services by providing personalized financial and portfolio management solutions.

Reasons for widespread acceptance

During the global economic slowdown financial and especially, the mortgage industry was hard hit and faced survival threats from large write-offs and bankruptcies. In order to survive in the competitive and volatile environment, banks and finance institutes were forced to turn their interests on their existing customer base. The cost of acquiring new business is always high in the financial industry but on the other hand, companies can expand their current business volume through up-selling and cross-selling by nurturing their existing relations.   

The CRM solution for finance industry is focused to offer industrial solutions to:

  • Bankers
  • Financial Brokers
  • Insurers
  • Portfolio/Wealth Managers
  • Financial Managers


What financial institutions aim to achieve through CRM

The main aim is to offer focused customer services and to acquire new businesses simultaneously. A comprehensive customer service automation tool for financial institutes aims at offering:

  • Holistic analysis of primary investors based on their risk profile to find opportunities for up-selling and cross-selling
  • Lowering process expenses with better understanding of customer requirements to offer personalized portfolio services
  • Customer acquisition support to increase the customer base
  • Improving revenue share by becoming the one-stop financial solution destination for customers
  • Improving compliance and audit standards to optimize resource use and minimize wastage
  • Reducing effects of sales force attrition by creating a unified interaction platform for the entire product line
  • Improving performance of franchisee by gaining better visibility across their operation process to prevent revenue leakage

  What a CRM for financial sector offers

A comprehensive CRM solution for finance industry must offer an analytical sales performance review to the user to help him offer focused and customized financial solutions to his clients.

  • A 360⁰ view of customer’s financial performance and risk sensitivity to help create targeted offers
  • Smart contact management solution that facilitates compiling and tracking customer interaction at one place
  • Graphical and analytical sales performance as well as portfolio performance report
  • Real-time market analysis report to determine performance of a particular financial tool
  • Chat facilities within the CRM to connect to colleagues and industry experts
  • Sales task automation for better management of appointments and meetings to optimize core competence
  • Risk analysis through integration with key systems of the bank to manage market exposure