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Banking CRM Software


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Salesforce.com logo
 
Salesforce.com has proven to increase collaboration, reduce operation costs and increase scalability for retail banks of all sizes.The solution is hosted in the cloud, so startup costs are low and implementation is quick.
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Salesforce.com has proven to increase collaboration, reduce operation costs and increase scalability for retail banks of all sizes.The solution is hosted in the cloud, so startup costs are low and implementation is quick.
 
Infusionsoft logo
 
Infusionsoft is designed for smaller banking operations. It is a CRM system with deep marketing automation functionality, as well as features for email marketing and e-commerce. Infusionsoft is a SaaS-based solution.
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Infusionsoft is designed for smaller banking operations. It is a CRM system with deep marketing automation functionality, as well as features for email marketing and e-commerce. Infusionsoft is a SaaS-based solution.
 
ProsperWorks CRM logo
 
ProsperWorks is a cloud-based customer relationship management tool that gives users complete views of their customers. The program is applicable to any industry, including advertising, distribution and real estate. The ProsperWorks... Read More
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ProsperWorks is a cloud-based customer relationship management tool that gives users complete views of their customers. The program is applicable to any industry, including advertising, distribution and real estate. The ProsperWorks... Read More
 
Base logo
 
Base CRM is a full-featured web-based solution that allows B2B and B2C sales professionals in many industries to work on the go. It features native apps for most mobile devices and a straightforward price structure.
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Base CRM is a full-featured web-based solution that allows B2B and B2C sales professionals in many industries to work on the go. It features native apps for most mobile devices and a straightforward price structure.
 
NetSuite logo
 
NetSuite CRM+ is a complete front office management solution with full integration with back office systems. It is deployed in the cloud and is available on mobile devices, allowing banking professionals to access it anywhere.
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NetSuite CRM+ is a complete front office management solution with full integration with back office systems. It is deployed in the cloud and is available on mobile devices, allowing banking professionals to access it anywhere.

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Claritysoft logo
 
Claritysoft is a customer relationship management (CRM) solution designed for midsize and large enterprise businesses. It offers sales automation, customer service and support, marketing automation and social CRM within a single solution. Claritysoft... Read More
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Claritysoft is a customer relationship management (CRM) solution designed for midsize and large enterprise businesses. It offers sales automation, customer service and support, marketing automation and social CRM within a single solution. Claritysoft... Read More
 
CallProof logo
 
CallProof's check in feature automatically collects client data by pulling their info from Google Places. You can also login to the system from a smartphone or Internet capable device, allowing you to stay constantly up-to-date.
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CallProof's check in feature automatically collects client data by pulling their info from Google Places. You can also login to the system from a smartphone or Internet capable device, allowing you to stay constantly up-to-date.
 
inContact Hosted Call Center logo
 
inContact Hosted Call Center software is designed specifically for the financial services industry to help improve customer experience and loyalty, as well as reduce the cost of collections and other service-related costs.
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inContact Hosted Call Center software is designed specifically for the financial services industry to help improve customer experience and loyalty, as well as reduce the cost of collections and other service-related costs.
 
Freshdesk logo
 
Offering multi-channel customer support, Freshdesk brings together every customer conversation into a centralized interface, helping customer support agents address and resolve trouble tickets. Whether the interaction occurs over... Read More
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Offering multi-channel customer support, Freshdesk brings together every customer conversation into a centralized interface, helping customer support agents address and resolve trouble tickets. Whether the interaction occurs over... Read More
 
Prophet CRM logo
 
Prophet CRM from Avidian is a cloud-based customer relationship management (CRM) application that can be integrated with Microsoft Outlook for extending Outlook's functionalities. The solution enables multiple sales teams to unify... Read More
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Prophet CRM from Avidian is a cloud-based customer relationship management (CRM) application that can be integrated with Microsoft Outlook for extending Outlook's functionalities. The solution enables multiple sales teams to unify... Read More

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Really Simple Systems logo
 
Really Simple Systems CRM is a cloud-based customer relationship management (CRM) system designed for small and midsize organizations. The solution comes in both free and paid editions. The free edition offers only sales force automation... Read More
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Really Simple Systems CRM is a cloud-based customer relationship management (CRM) system designed for small and midsize organizations. The solution comes in both free and paid editions. The free edition offers only sales force automation... Read More
 
OnContact CRM logo
 
Offering a choice web-based or on-premise deployment, OnContact CRM 7 is a great fit for price-conscious companies in several industries, including Banking, Software, Healthcare, Insurance, and Field Service. It is Mac compatible.
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Offering a choice web-based or on-premise deployment, OnContact CRM 7 is a great fit for price-conscious companies in several industries, including Banking, Software, Healthcare, Insurance, and Field Service. It is Mac compatible.
 
TeamSupport logo
 
TeamSupport offers an easy to use customer centric banking system. The software automatically tracks all customer requests, and with its Ticket Automation feature, you can quickly organize these requests.
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TeamSupport offers an easy to use customer centric banking system. The software automatically tracks all customer requests, and with its Ticket Automation feature, you can quickly organize these requests.
 
Vivantio Pro logo
 
Vivantio is a service management system that allows users to create a personalized solution that aligns with internal business processes. Key features of the software include dashboards, charts, and reports, routing and assignments,... Read More
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Vivantio is a service management system that allows users to create a personalized solution that aligns with internal business processes. Key features of the software include dashboards, charts, and reports, routing and assignments,... Read More
 
PhaseWare Tracker logo
 
PhaseWare Tracker is a customer support and help desk solution. It automatically notifies users whenever clients report or escalate existing issues. Applications for help desk and customer service can be supplemented with a web self-service... Read More
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PhaseWare Tracker is a customer support and help desk solution. It automatically notifies users whenever clients report or escalate existing issues. Applications for help desk and customer service can be supplemented with a web self-service... Read More

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Microsoft Dynamics 365 logo
 
Microsoft Dynamics 365 provides integrated solutions that allow businesses to better track leads, automate field service, drive sales, and improve operations using mobile, enterprise-ready business apps from the cloud. The system’s... Read More
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Microsoft Dynamics 365 provides integrated solutions that allow businesses to better track leads, automate field service, drive sales, and improve operations using mobile, enterprise-ready business apps from the cloud. The system’s... Read More
 
Remedyforce logo
 
Remedyforce is a service management software built on a Salesforce app cloud and provides reporting, knowledge management, incident and problem management features. The software provides a service desk system so that users can manage... Read More
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Remedyforce is a service management software built on a Salesforce app cloud and provides reporting, knowledge management, incident and problem management features. The software provides a service desk system so that users can manage... Read More
 
IncidentMonitor logo
 
IncidentMonitor™ is an Information Technology Service Management (ITSM) application to support IT, ITIL and any other business process. The service management framework offers free ITIL process templates plus an integrated workflow... Read More
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IncidentMonitor™ is an Information Technology Service Management (ITSM) application to support IT, ITIL and any other business process. The service management framework offers free ITIL process templates plus an integrated workflow... Read More
 
Salesforce.com Service Cloud logo
 
Service Cloud is a unique and powerful customer service solution that is designed to promote more effective and productive customer service activities from anywhere. Built on the Salesforce1 Platform, Service Cloud works to unify and... Read More
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Service Cloud is a unique and powerful customer service solution that is designed to promote more effective and productive customer service activities from anywhere. Built on the Salesforce1 Platform, Service Cloud works to unify and... Read More
 
InvGate Service Desk logo
 
InvGate Service Desk is an IT service management platform that offers help desk request fulfillment, customer service and support, self service knowledge management, and more. The system is compatible on Mac, Windows, and iPad (or... Read More
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InvGate Service Desk is an IT service management platform that offers help desk request fulfillment, customer service and support, self service knowledge management, and more. The system is compatible on Mac, Windows, and iPad (or... Read More
 

Buyer's Guide

by Craig Borowski,
Market Research Associate
Last Updated: June 17, 2017


Banking customer relationship management (CRM) is a way for the banking industry to provide better and more reliable support for its customers and clients. By investing time and capital into creating a firmer foundation for the relationship between you and your customers, you can improve their experience, and make them more likely to choose you over your competitors.

Banks typically lack the benefit of brand loyalty that other businesses earn over time. To stay competitive, then, in addition to providing world-class financial services, you also need to create a first-rate customer experience. This means being responsive to customer needs, knowledgeable about their history and able to predict the future services they might require.

This is where banking CRM software can help you out. The automation, streamlining and consolidation that this software can offer your organization will allow you to better satisfy your customers and retain their patronage. A robust CRM package can make the difference between satisfied customers and a high attrition rate.

On this page, we’ll provide you with a guide to banking CRM software that will help you make an informed decision between the many systems out there.

Here's what we'll cover:

What Is Banking CRM Software?
Common Features of CRM Software
Common Features of Banking CRM Software
Evaluating Banking CRM Software

What Is Banking CRM Software?

Today's financial institutions face increasing competition from global banks, regional institutions, the Internet and alternative funding sources.

The best solution for this is to improve customer experience—clients that feel valued and receive high-quality service are less likely to look elsewhere. CRM software for banks will help your financial institution improve customer retention and maximize referral opportunities.

In this guide, we will describe CRM in general, banking-specific CRM functionalities, as well as other considerations for evaluating software in this category.

Common Features of CRM Software

CRM software allows businesses to better organize and manage relationships with their customers and clients by consolidating contact information into one location that is accessible by stakeholders across the company. Some software will also allow for various processes to be automated and for management to monitor performance and productivity, both across the board and for individual employees.

Although different systems have differing features, a rich CRM software suite will include at least four core functions:

Contact management. Most CRM products will provide a searchable database of stored customer/client contact information, as well as important documents such as contracts and sales proposals. This is the broadest offering of most general CRMs, but industry-specific systems (such as those for banking) will incorporate them as well.

Interaction tracking. As an adjunct to contact management, many CRM programs will allow you to track all conversations held with those contacts—whether they be over the phone, face to face or via live chat, email or other channels. Depending upon the system, these interactions may be logged manually, or potentially automated through integrations with your phone and email. More and more CRM suites will also track interactions with clients on social media platforms (Facebook, Twitter, LinkedIn etc.).

Workflow automation. Through combining task lists, calendars, alerts and templates, workflow automation can help standardize business processes. Based on certain predetermined steps, for example, the system can automatically set the next task in the process once the previous task has been marked as completed. CRM systems can often also be set to provide automated alerts and reminders for follow-ups that need to be taken care of personally.

Reporting and analytics. Management can use these CRM tools to create reports and generate analytics that will track 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 or the creation of new contacts. These tools can also prove helpful for predicting future sales figures in the next quarter and beyond.

Common Features of Banking CRM Software

CRM software for banks and financial institutions will have standard features like contact management, sales automation and marketing, as well as the following industry-specific features:

Banking workflow automation Banking CRM software is designed to expedite the loan qualification process. All forms and fields contain the information terminology used in the financial services industry, and the workflow will automate processing of loan requests, ensure uniform enforcement of credit checks, help mitigate risk and track account activity.
Financial research engine Some CRM systems, particularly those designed for non-banking financial institutions, will include industry data to consolidate research into one place. This will include product information, competitive analysis, financial news and stock tickers.
Security & compliance Regulation of the banking industry is already complex, and it’s not getting any simpler. One of the biggest benefits of a banking CRM program is that it contains all the security features required for the industry and helps ensure compliance with all regulations, including an audit trail for later use if necessary.
Account consolidation & tracking Most financial institutions store client information in multiple systems, which makes accessing that information labor intensive and unreliable. A banking CRM program will consolidate all this data into one place, so that investments, needs, preferences, payment status and change in risk can all be managed from one accurate, up-to-date location.

Evaluating Banking CRM Software

Commercial or residential; regional or national; community bank or credit union; mutual funds or capital markets; every financial institutions has different needs that should be carefully considered before purchasing CRM software. When evaluating the software, ask the following questions:

  • What sector of banking/financial services are you in?
  • Does the software integrate seamlessly with accounting and other software systems already in use by your company?
  • Would you benefit from a system that supports upselling?
  • Do you want to be able to track your best referral partners and reward them accordingly?
  • How important is email marketing in your lead generation process?
  • Who in your company will need to have access to the software?
  • What processes would you like to have automated by a CRM system?
  • What kind of license do you want for your software—perpetual (one upfront fee) or subscription?
  • How do you want your software deployed to you—cloud-based or on-premise?

Free Download:
CRM Software Pricing Guide

Free Download:
Ten Steps Guide to Selecting the Right CRM Software

 

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