Crm in Banking

Topics: Bank, Customer relationship management, Customer Pages: 2 (445 words) Published: March 24, 2013
CRM in Banking
Implementing a CRM in banking industry can be very challenging. CRMnext optimizes existing customer strategies and makes them future-proof without affecting your bank's flexibility, unlike other banking CRM systems. Our banking solution helps to increase customer satisfaction and boost revenues by streamlining processes on a powerful technology platform which enables transformation from a product centric to a customer centric organization.

Banks can no longer rely on customer inertia in order to retain customer loyalty. Customers are drifting away from inherited relationships to managed relationships, from face-to-face to virtual banking and from branch specific to anywhere banking.

* Banks continue to face stiff revenue targets spread across too many stakeholders without banking CRM systems. * Banks' stakeholders struggle to deal with a vast number of departments, systems and geographies. * While the growth strategy of most banks relies on a cross-selling infrastructure, there is an apparent lack of it. * Large investments are made to enable marketing intelligence, yet dismal infrastructure exists to execute and complete the feedback loop. Absence of visibility has created a reporting overload, directly resulting in huge efficiency drags. * Unable to sling intelligence to front ends, marketing continuously generate campaigns, targeting a mind boggling number of customers and prospects. To meet these growing numbers, product teams take to direct strategies, with parallel ownerships, dismissing possible synergies. * Manual reporting is the primary source of performance analysis for most banks. Challenges

* How to create an intelligent, unified view of customers and their needs? * Identify and cross-sell products, from multiple repositories & systems. * How to assist workforce in achieving higher targets, reduce non-core workloads, minimize coordination efforts and provide actionable intelligence?...
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