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Why Microsoft Dynamics CRM Is Winning Big with Banks

Why Microsoft Dynamics CRM Is Winning Big with Banks
By Jennifer LeClaire

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To become customer-centric organizations, banks must first start thinking from their customers' perspectives. Banks need tools that provide complete and holistic views of their customers and enable them to reach out with intelligent and timely offers. Microsoft Dynamics CRM is such a tool, said an ABN AMRO Bank exec at the Sibos 2013 event.
 



Microsoft is reporting big financial institution wins for its Dynamics CRM business. At the Sibos global financial services event in Dubai on Tuesday, Redmond announced several global financial institutions are modernizing business operations on the Dynamics CRM platform as they shift from transaction-based businesses to customer-centric businesses.

Prioritizing customer service is the key competitive differentiator for Metro Bank, Great Britain's first new bank in more than a century. Microsoft Dynamics CRM, combined with Microsoft devices and services, is the foundation of Metro Bank's customer-first strategy.

"As the first new high street bank in the U.K. for over 100 years, our unique, customer-focused model is reinventing the rules of retail banking," said Paul Marriott-Clarke, commercial director at Metro Bank. "Microsoft Dynamics CRM helps us enhance our customers' experiences, combining traditional face-to-face service in our stores with amazing technology to ensure our customers receive the very best in service and convenience."

Measuring CRM Results

Microsoft Dynamics CRM promises financial institutions a powerful solution to drive proactive interactions with end customers, provide deep client insight, and deliver intelligent offers and custom-built experiences. In the banking world, the results are often improved customer retention, adding new customers and improving advisor productivity.

MKB Bank, the second-largest bank by equity in Hungary, chose Microsoft Dynamics CRM to steer all customer-related processes in the bank and keep up with growth. The results: MKB improved customer service times by 25 percent, decreased customer churn by 5 percent and increased profit earned on the primary banking customer segment by 20 percent in the same period.

"Customer service is our top priority, and Microsoft Dynamics CRM gave us a comprehensive view of customers and integrated access to all channels," said Laszlo Kiraly, head of CRM and E-Channels at MKB. "Our CRM-driven front-end system has become the core application for our business. It is now our primary platform for collaboration, better efficiency and a superior multichannel experience."

Powering Entire Banks

And at the end of the day, to become customer-centric organizations, banks must first start thinking from their customers' perspectives. They need tools, technologies and processes that allow them to address customer inquiries anywhere, anytime. Banks need tools that provide complete and holistic views of their customers and enable them to reach out with intelligent and timely offers.

Volkskreditbank AG (VKB) tapped Microsoft Dynamics CRM to help it become one of the most customer-oriented banks in Austria. The bank reports a 32 percent boost in sales productivity, an 18 percent increase in customer service quality and a 95 percent decrease in the time needed to provide analyses and reports, giving managers and executives a near-real-time view into the health of the business.

"We needed a CRM solution to power our entire bank, not just a single division or set of products," said Michael Reifetshamer, IT manager at VKB. "Our experience with Microsoft Dynamics CRM shows that we made the right choice."

Finally, ABN AMRO Bank NV improved customer service by implementing Microsoft Dynamics CRM and connecting it to its asset management system to provide a single view of each customer account.

"Dynamics CRM is a robust solution tool," said Su Kia Tan, head of Process & Project Management for ABN AMRO Bank. "We use it to support our end users in managing business growth and productivity improvement with necessary controls built on customized and streamlined workflows."
 

Tell Us What You Think
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David Evans David@simego.:

Posted: 2013-10-30 @ 3:03am PT
There is a key point: All the banks integrated their platforms. It is far more expensive to alter your core transaction platform to include CRM features than to integrate Dynamics CRM. Integration in these cases are a force multiplier. As your relationship managers are more engaged by the level of information on each client in the system, they are more likely to use the system. The chances of a failed project reduce dramatically and the chances of a product cross sell are greatly increased. More Banking CRM Case-Studies: http://www.simego.com/CaseStudies/FinanceCRM and http://www.simego.com/CaseStudies/Finance-BI-CRM.

alliancetekinc:

Posted: 2013-10-02 @ 6:10am PT
We think one way to banks can achieve this is through a CRM solution that is familiar and flexible. With a good solution, bank representatives should be able to leverage the powerful capabilities of CRM through tools and devices they already use every day, like Microsoft Outlook or a mobile phone. Microsoft Dynamics CRM provides customizable, scalable platform that can easily integrate with existing line-of-business systems the result empowers staff with the tools required to identify profitable customer segments, provide superior financial advice, and execute on high-quality customer relationships.

Andrewboon:

Posted: 2013-09-19 @ 7:32am PT
Interesting article. Companies can engage better with their customers through a CRM system and need to constantly upgrade and maintain their CRM programs to provide good customer engagement.



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