Corporate CRM for Banking: A Great Idea or No?

Saphyte Team

5 min read

Updated: July 29th, 2020

One of the common challenges of any banking institution at the present time is trying to meet customer expectations. For a modern-day consumer, banks with a great checking account or lending terms just won’t cut it. Bank clients aren’t wired like most retail customers. 

For banks to be successful, they must also have the ability to provide thorough financial advice. That means banks and their sales team must have an in-depth contact information of each customer’s industry. They need comprehensive customer information to take a tailored approach and execute it faster than their competitors. 

Modern corporate customers want their banks to have goal-based plan, personalized outreach, proactive insights, and more. That is why it is important for banks to be in the same sphere as FinTech, not just to create a seamless and effortless personalized customer service, but to also be on board or be ahead in a competitive landscape. 

With all the pressure put on banking institutions, having a Customer Relationship Management (CRM) software is no longer an option but is now a necessity. Rather, CRM solutions are critical to your success. 

How can a platform change the way you do your banking business? 

CRM applications help banking institutions and their sales team to gain an insight into the behaviors of their customers. Which in return can help businesses modify their business operations to ensure that potential customers or existing customers are served in the best possible way.

The right CRM system can help small businesses and enterprises market to new customers, close deals faster, and provide excellent customer service. With excellent customer experience comes better understanding to customers. With better understanding, the more responsive businesses can be to their customer’s needs. And the chain goes on.

The benefits of a CRM extends from the contact center industry to the banking sector are all worthwhile. Here are some of those benefits and how you can become the bank that customers will love with the right corporate CRM solution for banks.

Benefits of a Corporate CRM Software

Enjoy the Leverage of a 360-Degree View of Customer Data 

A CRM system has the ability to integrate with your current sales processes which in return can provide you with a 365 view of your customer account. This function makes it quick and easy to gain deeper insights into your customer’s habits and personal preferences. Which in return can help you align your products and services to their financial goals.

Improves Customer Retention

With the rise of online banking solutions will push banks to rework on their customer retention strategies. Banking institutions need to find a way to foster a long-term relationship with their customer. This can be difficult for many organizations to apply if CRM tools are not present. 

With a CRM, users can have access to a great deal of data available right at their fingertips. The data in return can help you proactively deliver custom services to clients. Since one of the best CRM features allows its users to record notes and personal information, you can enhance customer interactions and experiences. 

Enable Quicker Processes

When you have a single and unified platform, your employees can have access to your customer profiles and swiftly get up to speed on an account. A CRM can you’re your employees eliminate any duplicate conversations because all will be recorded within the system. Thus, providing centralized data. When you have a centralized data stored, you are also providing employees with a holistic understanding of your customer’s situation.

Gain Insights to Improve Sales and Marketing Strategies

The data stored in your CRM can be consolidated and turn into data-driven reports. Which in turn can help you gain a much deeper understanding of your customers. With this data, you can be able to identify trends, refine your campaigns, and see areas for improvement to help you anticipate your customer needs and customize them for your future marketing efforts.

Productivity for Employees

With all customer information available under a single CRM platform, your employees no longer need to search through emails or switch multiple platforms for the answer to a query. Thus, eliminating repetitive administrative tasks. Hence, employees can spend less time scrounging through data and have plenty of time fostering client relationships. 

With the benefits listed above, surely a CRM can help you manage your daily needs. From contact management, project management, to customer support, a CRM is indeed a great tool to help you manage processes easily on a daily basis. 

However, despite the fact that CRM features are helpful for banking institutions, still picking out a random CRM system is not advisable. No two CRM features are the same and not every CRM is can fit your sales cycle and business process. That is why it is important to pick the best one out in the market.

When looking for the   best CRM software for small businesses in the banking industry, pick Saphyte.

What is Saphyte?

Saphyte is a customer relationship management system built and registered in the United Arab Emirates. Saphyte is built to help any type of business to streamline their corporate activities and integrate them into a single powerful platform. 

The CRM comes with powerful sales and marketing tools designed to improve the efficiency and productivity of your business and sales processes.

This may sound like an ordinary CRM tool but Saphyte has so plenty of other features to offer. As you read along further, you’ll find a list of CRM features to help you and your team to succeed in your marketing and sales campaign. Here are the reasons why Saphyte is the best CRM software in Dubai.

Scalable and Flexible to your Needs

Your business is meant to grow aggressively and progressively. As you grow, you need the proper tools to help you go through the daily hurdles in your business. Saphyte is designed to grow with your banking business. Saphyte’s modules and tools can be customized according to your sales and marketing team’s needs. Scalability and flexibility help with stability. Stability leads to growth and growth leads to expansion. 

Customizable multiple dashboards 

Creating smart business decisions are derived when users and executives have access to accurate and immediate information. With Saphyte, you can create and customize multiple dashboards and have immediate data-driven and accurate information on your sales and marketing campaigns. 

Saphyte’s CRM system allows you to have an overview of the information you want in regard to your client, sales, marketing, and support management. All you have to do is drag-and-drop functionalities to move different widgets and name them according to your preferences.

Client Management Modules

Having reliable information is essential but getting data organized is hard labor and takes plenty of time. With Saphyte, you can eliminate menial admin task and free up some space to make room for productivity. 

With Saphyte you can manage your contacts database effectively and efficiently through the system’s Client Management tab. Manual data entry can be a waste of time. Within this feature, you can just import/export information of your existing customers, leads and clients. You can also automate your processes, manage tasks, organize your data, generate important reports, and more valuable features for you to enjoy.

Saphyte is built to be sensitive to duplicate entries. This added feature can help you save time in building quality lead data. The platform itself allows only one unique data per client. If the platform recognizes a duplicate, it’ll prompt an action window to either merge or replace customer information.

Sales Management Module

Dealing with phone calls is already hard enough for your sales team. Why not equip your employees with the right sales management module and tools?

Saphyte’s sales management module has all the tools your employees need to manage the sales of your company. 

Your team will know the status of each prospect when they are using the Sales Pipeline. They can also close deals faster with the use of Deals Management and manage associated companies within your business.

On top of that, the platform has a built-in Automated Lead Scoring. This feature allows you to prioritize your leads by applying a score condition. The score condition in return can help your team identify which leads have the most potential to progress into a closed sale.

When business owners have access to immediate and accurate information, it can avoid business pitfalls. This is where the Sales Intelligence and Sales Forecasting features come into the picture. Saphyte is built with accurate and realistic forecasting to help you in your business decisions and collate information to refine your sales strategy.

Marketing Modules

Marketing plays a big part in business, most especially for banking institutions.  With Saphyte, you can improve your marketing strategy with the tools built to help you succeed in your campaign management, social media marketing, email marketing, and more. 

Saphyte is built with an email tracking tools. With this feature your team will receive notifications each time a client opens an email, clicks a link, or download an attachment. With this information, you can have the perfect opportunity to follow up with your leads, prospects, and customers in a timely and appropriate manner. Furthermore, email trackers won’t make you look too aggressive and forcing your way to your customer. 

In addition to that, Saphyte has a Product Catalog Management tool to help you consolidate all your products in one place. You can categorize, organize, and standardize all your product information across all sales channels through this feature. When you allow your customers to receive rich and consistent information about your products, it’ll be easier for them to remember your business and repeat transactions with you.

On top of all these features, Saphyte will not cost you a lot. We understand that in order for small businesses in the banking sector to succeed they must have access to great and not overly priced systems like Saphyte. You can enjoy a month of free trial before diving right into our paid services. In addition, Saphyte gives out free demo and free implementation trainings to help you ease in with the system.  

Saphyte has customer service representatives available anytime you have questions and are willing to walk with you until you’re ready to stand on your own. All of these comes for free. With no strings attached. 

Investing for the future of your banking business is a great move. Start investing in the right tool so that it can nudge you to the right direction. Start it with Saphyte today. Get a free trial now, or contact us to book for a free demo.