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How can CRM help the Banking Industry?

CRM is more than just a help-desk system for processing customer service tickets, although it does that too.CRM goes beyond the industry. If you have customers you interact with, CRM can be beneficial to you.


Banks aren’t what they used to be the days of big lockers and high counters are long behind us. Banks of the modern age need a modern way to interact with customers, and CRM software offers just that.

The majority of customers report that personalized interactions are very important to keep their business. Customers of financial services are no different, they want to feel like their bank cares about them and can serve their specific needs. CRM systems provide personalized interaction, start from the first point of contact and continues throughout their financial journey.
There are managerial benefits as well. CRM systems streamline different workflows like advisor calendars, customer service tickets, product up-selling, etc. and combines them into a single interface. From self-service portals where customers can manage their accounts to AI systems that suggest the next-best-action to representatives, CRM’s goal is to make your life easier and more organized.

Salesforce Financial Services Cloud

Salesforce offers an industry-specific CRM called ‘Financial Services Cloud’ that is built with banking and financial institutions in mind. This vendor’s bank CRM software includes retail banking to wealth management, 360-degree visibility into clients’ financial profiles and puts your customer at the center of every interaction.
Some of the features and benefits are as follows.
Increase Productivity of Advisor:

Financial Services Cloud, powered by lightning is an integrated platform designed to drive stronger client relationships that last generations. It helps advisors to spend less time gathering client information and more time doing what they do best, such as providing comprehensive, goal-based advice that puts their clients at the center of everything they do.
Financial Regulations:

Financial Services Cloud, along with Salesforce Shield, provides an amazing suite of compliance features. It clearly means advisors, agents, and firms can adhere to new regulatory standards to a large extent.



Salesforce Shield capabilities along with the Financial Services Cloud, offer an extra layer of security/ safety including tools that monitor data access and usage and prevent suspicious activity. Along with the security features, it provides access to Event Monitoring, Field Audit Trail, and Platform Encryption to ensure that clients’ financial account information is kept confidential and secure.
Customer Portals:

Integrated customer portals allow users to provide data about their financial needs in a secure environment and that helps advisors to resolve tickets efficiently. The online case management feature allows users to edit and access service cases anywhere, even on their mobile devices.
Different from other wealth management tools:

With the unique Client Data Model at the center of Financial Services Cloud, industries have access to all the important information needed to grow and nurture every client engagement opportunity. Also, Salesforce, as we know, releases three updates a year. Thus, financial services cloud benefits from it as well.
Salesforce Financial Services Cloud takes into account the industry-specific needs of the business in the sector and contains features, which allow to increase the productivity of advisors and reduce the company’s costs of implementation and support. The solution is able to use partner solutions from AppExchange.

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