Key CRM Features for the Financial Industry


Due to the cut throat competition, many financial services organizations be it banks, insurance companies or capital markets, find it difficult to differentiate themselves. The nature of the industry is such that the product could be easily imitated, making it difficult for them to set themselves apart from the competitors.

Many organizations have realized that in order to gain a competitive edge and win more business, they need to enrich their customer relationship experience. By implementing a CRM solution that has the quintessential financial services features, a business can improve customer retention, become more competitive and increase profits.

(Rolustech has developed a cloud based Financial Management Platform which empowers the financial advisors to meet the rising client expectations. Read the details here.)

In this blog, we will take a look at the key CRM features for financial industry that will help companies address the needs of their clients.

1. 360-Degree View of Financials

Have accurate and up-to-date information about the products used by your clients, their incomes, debts, loans, credit scores and other details. Store centralized data about customers including transactions, interactions and preferences. Full client knowledge will make financial advisors respond instantly when problems arise.

2. Contact Management

This provides a searchable database of stored client contact information as well as important documents such as contracts and sales proposals.

3. Lead Management

Banks, insurance companies and other businesses in the finance industry need lead acquisition and funneling tools. When a lead comes in, it needs to be routed to the correct agent, advisor or manager, and then tracked correctly.

4. Customer Engagement

The CRM should contain tools which improve customer engagement, including email newsletters, social media integration and relationship tracking.

5. Marketing Management

Send out multi-channel and multi-wave campaigns and derive maximum ROI for every marketing dollar. Design and personalize marketing messages and target campaigns towards the most suitable segments.

6. Sales Automation

Give your sales team everything they need to prospect, manage contacts, record activities and ultimately close more business opportunities.

7. Integration Capabilities

A lot of important data often resides in specialty accounting and banking software. Look for a CRM offering third-party integration with your company’s desired solutions.  Seamless integration allows the system to sync data across multiple platforms, marketing channels and users, saving precious time and money.

8. Workflow Automation

Standardize business processes. The system will automatically set the next task in the process once the previous task has been marked as completed. Improve operational efficiency by building workflows that provide automated alerts and reminders for follow-ups that need to be taken care of personally.

9. Reports and Analytics

Create reports and generate analytics that will help evaluate performance and productivity. These reports are based on the activities that have been logged into the CRM system such as the amount of revenue generated. These tools can be extremely useful for predicting future sales figures.

How we have helped business in the financial sector meet diverse challenges? A few case studies

1. Credaris

financial crm

Credaris is an independent credit service provider. Credaris offers you safe and easy access to loans. Credaris used a legacy system and excel sheets to obtain potential leads, scrutinize them and pass them onto the banks. It resulted in the business process being highly inefficient. The company wanted to adopt an automated system that would substantially improve its business processes and help it achieve seamless communication between its clients and the banks. Click here to read the complete details.

2. Miller Howard

financial crm

Miller Howard Investments, Inc. is an investment boutique with more than 25 years of experience managing equity portfolios for institutions and individuals in disciplined, dividend-focused investment strategies. The company was previously using Sugar 6 to manage its business processes. However, with the release of Sugar 7, the management was eager to use the latest features for performance improvement, desiring the increased ease of integration/customization, development and standardization of processes. Furthermore, it desired to have its own mobile app so the employees could keep track of all their daily activities and stay connected with the business in real time from anywhere. Click here to read the complete details.

3. RealtyShares

financial crm

RealtyShares is a prime real estate investment platform in the U.S. It is used by investors who are looking to invest in the real estate market as well as for investment managers who are seeking to raise capital. The company needed to implement a powerful CRM solution which could be completely molded according to their business processes and serve as a back end solution for their real estate investment platform. Click here to read the complete details.



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