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Banking CRM Software


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Infusionsoft logo
 
Infusionsoft is a cloud-based sales and marketing solution that offers customer relationship management (CRM), marketing automation and e-commerce functionalities in a suite. It helps small businesses across various industries deliver... Read More
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Infusionsoft is a cloud-based sales and marketing solution that offers customer relationship management (CRM), marketing automation and e-commerce functionalities in a suite. It helps small businesses across various industries deliver... Read More
 
Salesforce.com logo
 
The Salesforce cloud is an on-demand customer relationship management (CRM) suite offering applications for small, midsize and enterprise organizations, with a focus on sales and support. The Salesforce app has capabilities that... Read More
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The Salesforce cloud is an on-demand customer relationship management (CRM) suite offering applications for small, midsize and enterprise organizations, with a focus on sales and support. The Salesforce app has capabilities that... Read More
 
amoCRM logo
 
AmoCRM is a cloud-based customer relationship management solution that helps users manage the sales pipeline. Users can receive feedback and reports about the performance of salespersons. The solution offers lead scoring and nurturing,... Read More
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AmoCRM is a cloud-based customer relationship management solution that helps users manage the sales pipeline. Users can receive feedback and reports about the performance of salespersons. The solution offers lead scoring and nurturing,... Read More
 
HubSpot CRM logo
 
With its cloud-based, customer relationship management platform, HubSpot helps companies of all sizes track and nurture leads and analyze business metrics. HubSpot is suitable for any B2B or B2C business in a variety of segments, including... Read More
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With its cloud-based, customer relationship management platform, HubSpot helps companies of all sizes track and nurture leads and analyze business metrics. HubSpot is suitable for any B2B or B2C business in a variety of segments, including... Read More
 
NetSuite logo
 
NetSuite CRM+ is a cloud-based customer relationship management (CRM) solution for small and midsize organizations. NetSuite caters to thousands of customers across a wide range of industries including wholesale distribution, manufacturing,... Read More
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NetSuite CRM+ is a cloud-based customer relationship management (CRM) solution for small and midsize organizations. NetSuite caters to thousands of customers across a wide range of industries including wholesale distribution, manufacturing,... Read More

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Copper (formerly ProsperWorks) logo
 
Copper 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 Copper solution... Read More
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Copper 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 Copper solution... Read More
 
FreeAgent CRM logo
 
FreeAgent CRM is a cloud-based customer relationship management (CRM) solution for sales and marketing teams in small and midsize businesses. The solution enables users to manage leads, contacts, emails and calls, accounts and deals,... Read More
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FreeAgent CRM is a cloud-based customer relationship management (CRM) solution for sales and marketing teams in small and midsize businesses. The solution enables users to manage leads, contacts, emails and calls, accounts and deals,... Read More
 
Base logo
 
Base CRM is the web and mobile-based customer relationship management (CRM) application that allows B2B and B2C sales professionals to manage sales, track leads and engage proactively with customers from anywhere. Base CRM features... Read More
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Base CRM is the web and mobile-based customer relationship management (CRM) application that allows B2B and B2C sales professionals to manage sales, track leads and engage proactively with customers from anywhere. Base CRM features... Read More
 
Pipeliner CRM logo
 
Pipeliner CRM is an end-to-end customer management system that provides better visibility and transparency into the entire sales process. It is a web-based system that is both Mac and Windows compatible, as well as offering an app... Read More
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Pipeliner CRM is an end-to-end customer management system that provides better visibility and transparency into the entire sales process. It is a web-based system that is both Mac and Windows compatible, as well as offering an app... Read More
 
Act! logo
 
Act! is a customer relationship management solution (CRM) that brings together contacts, account history, notes and activities into a single, centralized location. Users can take notes, manage prospect and customer information, send... Read More
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Act! is a customer relationship management solution (CRM) that brings together contacts, account history, notes and activities into a single, centralized location. Users can take notes, manage prospect and customer information, send... Read More

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Claritysoft logo
 
Claritysoft is a cloud-based 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... Read More
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Claritysoft is a cloud-based 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... Read More
 
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
 
Infor CRM (formerly Saleslogix) logo
 
Formerly Saleslogix, Infor CRM offers a flexible customer relationship management (CRM) system for managing relationships, information and CRM. It provides comprehensive capabilities for managing sales, marketing and customer service... Read More
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Formerly Saleslogix, Infor CRM offers a flexible customer relationship management (CRM) system for managing relationships, information and CRM. It provides comprehensive capabilities for managing sales, marketing and customer service... Read More
 
TeamSupport logo
 
TeamSupport is a B2B customer support software that helps teams collaborate together by eliminating miscommunications, improving customer communication and swiftly addressing client issues. TeamSupport has several key features that... Read More
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TeamSupport is a B2B customer support software that helps teams collaborate together by eliminating miscommunications, improving customer communication and swiftly addressing client issues. TeamSupport has several key features that... Read More
 
Salesforce.com Service Cloud logo
 
Service Cloud from SalesForce is a cloud-based customer service management solution that is designed to initiate customer service activities from anywhere. Built on the Salesforce1 Platform, Service Cloud works to centralize and optimize... Read More
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Service Cloud from SalesForce is a cloud-based customer service management solution that is designed to initiate customer service activities from anywhere. Built on the Salesforce1 Platform, Service Cloud works to centralize and optimize... Read More

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CallProof logo
 
CallProof is a cloud-based lead tracking solution that helps businesses automate sales reporting operations in real-time. Key features for field salespeople include customer tracking, multiple routes support, google calendar integration,... Read More
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CallProof is a cloud-based lead tracking solution that helps businesses automate sales reporting operations in real-time. Key features for field salespeople include customer tracking, multiple routes support, google calendar integration,... Read More
 
OnContact CRM logo
 
OnContact CRM is a mid-market customer relationship management (CRM) solution that can be deployed on-premise or in the cloud. OnContact includes complete sales automation, marketing automation, customer service and contact center... Read More
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OnContact CRM is a mid-market customer relationship management (CRM) solution that can be deployed on-premise or in the cloud. OnContact includes complete sales automation, marketing automation, customer service and contact center... Read More
 
Zendesk logo
 
As one of the most widely used help desk systems, Zendesk provides a simple yet powerful way to care for your customers. Its top features include a customizable front end portal, live chat, and access on smartphones and tablets.
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As one of the most widely used help desk systems, Zendesk provides a simple yet powerful way to care for your customers. Its top features include a customizable front end portal, live chat, and access on smartphones and tablets.
 
Help Scout logo
 
This Web-based help desk software provides seamless support to customers in banking and other industries. Ticketing is invisible to customers with communications designed to look just like a personal email.
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This Web-based help desk software provides seamless support to customers in banking and other industries. Ticketing is invisible to customers with communications designed to look just like a personal email.
 
Front logo
 
Front is a cloud-based collaboration tool for small and midsize businesses. Front consolidates various communication channels such as email accounts, Facebook and Twitter, and helps users to automate communication workflows. When... Read More
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Front is a cloud-based collaboration tool for small and midsize businesses. Front consolidates various communication channels such as email accounts, Facebook and Twitter, and helps users to automate communication workflows. When... Read More
 

Buyer's Guide

by Andrew Friedenthal,
Market Research Associate
Last Updated: August 14, 2018


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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