7 Ways The Right CRM Helps You Serve Your Banking Customers Better

The old adage about a bird in the hand being worth two in the bush rings true when you’re talking about nurturing existing client relationships. It’s less expensive and more efficient to cultivate the customers you already have while your marketing department helps you find new ones. This is especially true for retail banks and lenders.

CRM (Customer Relationship Management) software was designed to keep track of your customers’ data and provide insight and give direction for serving them better.

Building better relationships with your customers will increase their business with you and turn them into a strong and loyal customer base who will be your best advocates for new customers.

Here are some of the benefits your bank can expect from using a comprehensive CRM system like Crowe CRM for Banking on Microsoft Dynamics 365 to improve your customer service:

  1. Efficient data management and reporting

Gone are the days of Rolodex and sticky notes to manage your customer data. A modern CRM keeps your customer information at hand in a convenient, usable form. You can easily share customer data with other team members or even different branches when the need arises.

With all your communication and reporting tools in one solution, your workflow processes will be more efficient, and you’ll improve the quality of customer care.

  1. A complete view of all customer activity across departments

Team members from customer-facing reps to executive management will have access to complete customer data. Track communications and avoid duplicate effort or inappropriate offerings. All the information a loan officer or customer service rep needs is there in real time.

  1. Easy reporting and up-to-date information

To ensure consistency of customer service, managers need access to easily understood standard reports. Make sure all customer interactions are handled consistently with high standards.

The right CRM will provide managers with a series of standard reports that can be run and shared with a couple of clicks. Having all information in one system that is easily accessible will eliminate workflow bottlenecks and improve the usefulness of your data.

  1. Automated workflows

The more time spent on internal work processes and communication, the less time team members have to serve their customers. The right CRM can make your organization more efficient and conserve valuable time. Also, automated workflows will be more consistent. Assign tasks, create and route referrals, track sales, and manage cases more quickly, more easily, and more accurately.

  1. Anytime anywhere access to your data

To be truly useful, your CRM should be mobile. Crowe CRM for Banking is a cloud solution that is accessible from wherever you need to be at whatever time. Sales reps in the field or onsite with customers and prospects can get all the information they need over their mobile devices. This feature is even more important when team members are working remotely. It allows managers to stay connected to their employees and employees connected to their workflows.

  1. Immediately identify your best customers

It’s important to identify your best customers and treat them accordingly.  Crowe CRM for Banking allows you a complete customer profile and history that will enable you to determine customer profitability. Tie in general ledger costs and allocate soft and hard costs across products, processes, and customers for one transparent assessment of customer profitability.

  1. Motivate employees to improve performance

It’s essential to motivate employees to work harder and smarter at providing exceptional customer service. With Crowe CRM for Banking, you can create goal and incentive plans and automate them for maximum effectiveness.

Automated tracking allows employees to see where they stand in relation to their goals.

CRM can automate your employee incentive plans and make the process more efficient, accurate, and transparent to all. This will drive better results from your employees and further employee “buy-in” to using your CRM system.

Why CRM?

CRM systems are designed to make customer information understandable, transparent, and actionable to all your employees while providing managers information about employee activities. Today’s employees have come to expect and appreciate full-featured CRM solutions that empower them to complete their jobs with greater speed and efficiency.

When you benefit your employees, your processes, and your customers, you’ll continue to advance your business even in the competitive world of banking.

Crowe CRM for Banking powered by Microsoft Dynamics 365 is a CRM system designed with your needs in mind. We draw on our wide-ranging experience, banking expertise, and independent perspective to help you gain new insights into industry best practices, while offering practical solutions to address your specific needs to help you achieve higher performance.

Learn more about Crowe CRM for Banking on Microsoft Dynamics 365.

Contact our team to start the discussion at [email protected] or 877-600-2253.

By Ryan Plourde, Crowe, a Microsoft Dynamics 365 Gold Partner www.CroweCRM.com

Follow us on Twitter: @CroweCRM

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