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The automation of financial structures still raises many questions, despite the fact that credit institutions were the first in the industry to appreciate the benefits of using CRM systems to increase the efficiency and success of their work.

Let’s take a closer look at what innovations in CRM projects  and email marketing software for small business are currently on the financial services market and what is the specificity of automation of credit institutions. We will also determine what needs of clients in the financial sector are met by modern CRM systems.

The tasks that CRM tools solve in banks have common features, especially in crisis years. In periods like today or 5-6 years ago, the main goal of banks is to strengthen sales and gradually increase their level, without risking productivity or the number of employees.

The credit and operational front offices are actively used.

The key advantage of a credit front office is that it allows you to accept 25% more applications for active services without affecting the number of employees involved. Therefore, this CRM tool is popular among banks.

The operational front office is being implemented to make it convenient to carry out all transactions on clients – accounts, card and other products can be managed on a lightweight modern web interface.

Automation of internal banking processes, such as lending, contributes to an increase of 20% or more in key indicators such as the processing time of applications, and also allows you to increase control over the process of processing deposits.

Directions of using CRM in a bank

Understanding customer needs

There are several important areas of application of CRM systems in banks:

  • Contact center. There is a good test for checking the level of the banking contact center: the client calls with some special question regarding the design of a certain banking product. A day or two later, his call gets to another operator, he introduces himself, and then talks about additions to his previous call. A distinctive feature of a good contact center is that the operator will be able to instantly receive data on all previous customer calls. A bad contact center is characterized by the fact that the client will be forced to repeat it all over again.
  • Attracting individuals and developing interaction with them. For a bank, the most difficult process is lending. CRM-system allows not only to advise clients, but also to design certain products. An important process is interaction with a client and his retention in the event of a drop in the level of his interest in banking products. The CRM system should remind you of all important events, provide special information on clients in a convenient form, and also analyze the data on the formed portfolios.
  • Attraction of legal entities and the formation of certain relationships with them. With long-term sales, the activities of managers must be monitored at every stage of the work. The relationship between legal entities should be thoroughly analyzed in order to form portfolios of services for banking clients, taking into account the existing history of work with individual divisions.
  • Interaction with clients with outstanding credit debts. A feature of the marketing automation for banks system is the ability to organize a sequence of actions for different types of delays. A package of documents required for the court is automatically generated, as well as structured data tables for submission to collection agencies.
  • Marketing and building an expanded customer base. The work of a CRM system is focused on managing impacts on large groups of customers at once, mailing lists and customer surveys. She can track customer acquisition performance and plan marketing impacts.

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