2022 Top 5 CRM For Banking Industry

Financial or banking institutions face a number of challenges and cannot let their guard down at any cost, especially in this age of cut-throat competition. Taking steps to improve customer experience could certainly help financial institutions to stay ahead of the curve. When customers get better service, they tend to feel valued and are thus less likely to look for an alternative. It is here that customer relationship management software can help you improve customer retention and maximize return on investment.

1. Salesforce

The leading CRM for banking software, Salesforce is a full suite of applications that offer vertical solutions for financial and wealth management sectors, with sales management, partner relationship management, marketing automation, and customer service capabilities. The user-friendly CRM software helps institutions manage customer accounts.

Available for software-as-a-service deployment, Salesforce CRM solutions are affordable and do not require additional investment in hardware and IT support.  With Salesforce for Outlook, you can easily synchronize an unlimited number of tasks, contacts, and emails to reduce double entry.

Cons: The setup should be a little more intuitive, as the product requires a long learning curve. Further, mass customization is not easy with Salesforce which requires you to create a separate custom field for each object.

2. SugarCRM

An easy-to-use banking CRM software solution, SugarCRM comes with unique account management, sales automation, and customer relationship management capabilities. Built-in an open-source platform, this uniquely designed tool easily integrates with third-party systems.

The software is compatible to run on Oracle, Linux, Windows, SQL Server, and MySQL systems and supports Mac or Windows operating systems. Mobile access can be customized as per your specific usage.

Cons: The system lacks a dashboard that could give you an overall picture of your business.

3. LogicBox CRM

The web-based system LogicBox CRM for banking institutions is designed to automate workflow, helping manage your business efficiently. The intuitive, yet powerful software is easy to use and can safely, and securely handle your work while empowering your employees to be more efficient and consistent in their jobs.

Easy to access anywhere anytime, the scalable solution grows with your business, thus improving customer experience. With its full suite of standard banking CRM functions, LogicBox creates an integrated system that increases efficiency and streamlines operations.

Cons: Reporting capabilities could be improved to enhance user experience and improve operational efficiency.

4. Microsoft Dynamics

Improve efficiency and profitability with the Microsoft Dynamics CRM software that offers a comprehensive end-to-end solution for financial institutions. The tool enables workflow automation that helps streamline tasks and boost efficiency. The application is designed to help you become customer-centric to win their loyalty and trust for a long-term relationship.

Seamless integration with third-party applications helps extend the value of your IT investment while reducing administrative overhead costs. Embedded desktop productivity features are designed to help improve the efficiency of the workforce, thus helping boost customer retention and streamline key banking operations.

Cons: It involves a steep learning curve, which can be a time-consuming process for financial institutions that have a lot of tasks to handle.

5. Base CRM

As its name suggests, this CRM for banking software is designed to work on mobile devices. With a beautiful user interface, Base CRM comes with exceptionally smart features and a mobile platform. The intuitive application integrates key elements, including smart filters and drag and drop.

Easy to use, the software creates a sound workflow with an exceptional feature set that integrates seamlessly with key features. The simplicity of the system helps you move quickly from clunky Excel into a straightforward CRM system.

Cons: The dashboard gets cluttered with frequent updates. The system should include more visual clues for users to get a quick view.  But the usability and efficiency of use make it a perfect banking CRM for sophisticated reporting.

At ITQlick, we pride ourselves on our in-depth industry knowledge and experience to help clients find the best-of-the-breed CRM for banking solutions. Taking your specific business needs into consideration, our experts make software recommendations that not only save you time, but also money, helping you find the perfect match for your organization so that you can improve, grow, and succeed with every development.

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