Natalie Monko Lead Project Manager

    Banking CRM Software: Benefits and Features to Boost Your Company Results

    Nowadays, banking CRM software is one of the essential tools for the successful operation of all types of institutions in the banking sector, both commercial banks and national ones. The CRM systems field is now the biggest on the software market and continues to grow.

    And it’s the practically proven efficiency of this tool that boosted the banking CRM sector growth.

    In this article we’ll define what CRM for banks is, explore how exactly each bank department and the bank in general benefit from it, and find out when it’s worth creating a custom CRM system instead of using a turnkey solution. 

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    What is banking CRM software and how it helps businesses grow

    Banking customer relationship management software is an environment which allows bank’s staff (i. e. marketing, support, or account managers) collect and use the client-related data: interests, featured products, needs, and concerns. This leads to an easier establishment of a customer-centric service and more efficient marketing and sales strategy implementation.

    Speaking about particular benefits you can get by using a CRM software, we can state that it:

    • Facilitates greatly  in collecting data for customer experience and service development. It allows your team to identify and record the clients’ requests and remarks on the current level of service, and enhance the latter.
    • Helps you create a 360-degree-view of your customers. Your teams can form  personal profiles and easily utilize this knowledge in further communication. 
    • Increases conversion of leads into new clients. With all of the clients’ information at your fingertips, you will be able to quickly follow up on leads and close more sales. CRM can help enhance the efficiency of the whole sales funnel by streamlining the workflow of each bank department and connecting them into a coherent system. 

    Core features for CRM in banking industry in 2023

    Let’s delve into details and find out what aspects exactly the banks benefit from.


    • For sales managers. Call and lead management, lead nurturing, sales forecasting—CRM software makes every part of the sales process more efficient and less time-consuming. With the ability to track your customer interactions, you will be able to identify areas to improve in your sales process.
    • For marketing. The solution offers  the whole array of audience-related data gathered from non-marketing sources to create unique needs-based campaigns for each segment of the audience. Not to forget campaign performance assessment, conversion rates, and revenue tracking tools. 
    • For customer self-service. About 65% of customers choose self-service over human interaction, and 81% of them want more possible self-service options. With CRM and a pinch of creativity, you can totally satisfy these needs. For instance, using the tool to create a detailed knowledge base, a short quiz to discover the customer’s problem, chat-bots, and other features.

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    Security and compliance

    The access to the sensitive data will be under full control with a role separation system. A well-made tool also provides a decent level of security of user logs and a full compliance with security standards (GDPR, GLBA, etc.).

    Analytics and reporting

    In a couple of clicks you can get a detailed profitability report for a product or service, KPIs of departments or even of particular employees, LTV/CPC rates, etc. This is a great chance to get rid of  paper records. For instance, the ERP system Surf built for KFC showcases a dozen of the key performance metrics in one tab. 

    Why choose a custom CRM for bank  

    Big players and startups from various industries—from food tech and retail to healthcare and fintech—prefer custom software despite the wide functionality offered by off-the-shelf solutions. Let’s look at the main advantages of a custom product  for the banking sector.

    • No stuff you’ll never use. Implement only the really necessary functions.
    • No limitations. Apply the specific functionality whatever you need.
    • Flexibility. Add any changes whenever you want. 
    • Security. Be sure that only you and your team have access to the data and your  thoroughly tested CRM allows no leaks vital for your bank.

    Banking CRM software: final thoughts

    CRM is a highly powerful tool with strong benefits for commercial banks. More effective marketing and sales strategies, eliminated miscommunication between departments and a loyal client base are among its advantages. The chances for this are higher with custom software. With a custom solution it is much simpler to create a product that matches exactly to your needs and the demands of your target audience.