Identify Untapped Opportunities, Hidden Risks, and Shady Characters with Customer Effective: Banking

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As the leading innovator in CRM solutions for financial institutions, Customer Effective offers the Customer Effective: Banking CRM platform, which is built on Microsoft Dynamics CRM and caters to the distinct industry needs of Retail, Commercial, and Community Banks.  While many banks focused mainly on account transactions in the past, industry leaders are now adopting more of a client-centric strategy with the help of CRM. Specifically, the Customer Effective: Banking CRM solution provides enterprise-wide access to client interaction history, unique preferences, family members, net worth, demographic data, and real-time performance dashboards, such as the Pipeline Opportunity sample below.

Moreover, CRM brings together customer account data from core processing systems to give Bank staff one comprehensive view of their clients. However, it is not enough to just give Bank users in marketing, sales, and service departments access to more data. The account, transactional, and client-centric data must also be centralized, searchable, and able to be filtered on demand.

The 360-degree view of Customer Effective: Banking is available directly within Outlook and it helps Branch Managers, Personal Bankers, Business Bankers, and Loan Officers quickly determine which products and services are best-suited for each client in their book of business. Able to view existing products and services alongside the customer’s profile enables Bankers to make more value-added recommendations to help clients achieve their financial goals. As a result, cross-sell rates increase, customer service improves, and customer relationships are strengthened.

Besides making it easier to identify and close more profitable opportunities, Customer Effective: Banking CRM can also help the Bank avoid financial losses. For instance, customers often live near multiple branches in a particular market. Occasionally, shady individuals or teams will conduct massive criminal schemes across a wide array of branches in a geographic area involving check kiting, forged checks, stolen checks/cards, fraudulent loan applications, or impersonated checking account openings, among others. Notating, highlighting, and flagging client and account profiles in CRM for known or suspected criminal behavior can help a branch be more alert and better prepared to catch such horrific fraudsters and limit the bank’s losses.

Additionally, a situation may arise in which a customer is denied a request, such as asking to get a particular fee waived. The first branch that the customer normally visits is unable to accommodate the request. Trying to outsmart the bank, the customer then may visit another nearby branch hoping that she will find someone she can influence and coerce to obtain the fee refund. Ideally, the fact that the customer has recently been visiting other branches to discuss this same item should be recorded in CRM. Thus, the most recent Bank employee having to deal with this situation will immediately be up to speed on the previous attempts and denials, and therefore able to more efficiently and politely deny the request again.

The running historical log of interactions can even be leveraged to transition the service issue into a sales opportunity. In that case, the customer may have entered the bank grumpy, but she could leave happy knowing that she qualified for other bank products that can help her in the short-term and/or in the long-term.

If you are a financial institution interested in hearing more about the Customer Effective: Banking solution and how it can help your organization take CRM to the next level, please contact

by Customer Effective

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