FullCircl’s Post

Please read my latest blog below on maximizing CRM investments to fuel revenue growth and digital transformation in the coming year. #CRM #DigitalTransformation #RevenueGrowth

Salesforce CTA practice: Answer the following questions in the comments: What are the goals of the bank and what factors are helping them or hindering them in these endeavours? Describe how the current IT landscape supports or hinders reaching the goals. Suggest a plan on how the bank can reach its goals both in terms of IT and business changes Business Goals: Increase the number of new accounts opened by 25% in one year. Reduce operating expenses by 15% within 18 months by digitizing manual processes. Improve customer satisfaction scores by 20% within a year by enhancing service delivery. Current Situation: The bank has a strong presence in urban areas with a mix of traditional branches and limited online banking capabilities. The customer base is aging, with younger demographics opting for fintech competitors offering seamless digital services. In-branch processes for account opening, loan applications, and customer queries are heavily manual, leading to long wait times and operational inefficiencies. Marketing campaigns are generic, relying on mass promotions with little personalization, resulting in low engagement and conversion rates. Back-office operations, such as credit assessment and document processing, are slow and prone to errors due to lack of automation. Market Landscape: Fintech companies and digital-only banks are gaining market share by offering fast, user-friendly, and fully digital services. Regulatory changes require increased transparency and faster reporting, adding pressure on the bank to modernize its systems. Customers expect personalized services and the convenience of digital platforms, from account management to loan approvals. Information Systems Used by the Bank 1. Core Banking System: Manages customer accounts, transactions, and loan processing. Handles basic operations efficiently but is outdated and struggles to integrate with modern digital platforms. 2. Customer Relationship Management (CRM) System: Tracks customer interactions and relationship data. Does not support personalized marketing or deep insights into customer preferences and behaviors. 3. Branch Operations System: Manages in-branch workflows like account opening and customer queries. Heavily reliant on manual processes, leading to inefficiencies. 4. Digital Banking Platform: Provides basic online banking services but lacks advanced features like instant loan applications or personalized dashboards. Limited integration with the core banking system, resulting in a fragmented customer experience. 5. Analytics Tools: Basic reporting on customer demographics, branch performance, and transaction volumes. Insights are siloed across departments and not leveraged for proactive decision-making. 6. Marketing Automation Platform: Sends promotional emails and messages but lacks personalization and targeting capabilities. No integration with CRM or analytics tools, reducing campaign effectiveness. #salesforce #journeytocta #salesforcearchitect

In today's competitive banking landscape, delivering exceptional customer experiences and driving revenue growth are top priorities. That's where banking CRM comes in - a game-changing technology that helps financial institutions build stronger relationships, anticipate customer needs, and capitalize on cross-selling opportunities. From leveraging advanced analytics and AI to gain deeper insights into customer behaviour, to identifying and tailoring cross-selling initiatives to individual customer needs, explore the key tactics and best practices to drive revenue growth and customer loyalty as we share 6 powerful banking CRM strategies to help you maximize cross-selling opportunities. Read the full blog post now and start gaining the rewards of a powerful banking CRM solution! - https://lnkd.in/gdDfPa84 #BankingCRM #CrossSelling #SalesEnablement #RevenueGrowth #CustomerExperience #FinancialInstitutions #BankingIndustry #Technology #Innovation

Location intelligence is the secret weapon of data-driven banking https://lnkd.in/dBdsVRQi Brian Civin | Chief Sales & Marketing Officer | AfriGIS | Geographic information systems (GIS) are transforming banking by integrating location-based insights with customer relationship management (CRM) tools. New technologies are rapidly reshaping the banking sector, signalling a shift from traditional, branch-centric models to a more data-driven, customer-centric approach. GIS play a crucial role in... #bbrief #gis #data #banking #crm #customer #geospatial Brian Civin AfriGIS

Location intelligence is the secret weapon of data-driven banking https://lnkd.in/dqbkXqfh Brian Civin | Chief Sales & Marketing Officer | AfriGIS | Geographic information systems (GIS) are transforming banking by integrating location-based insights with customer relationship management (CRM) tools. New technologies are rapidly reshaping the banking sector, signalling a shift from traditional, branch-centric models to a more data-driven, customer-centric approach. GIS play a crucial role in... #bbrief #gis #data #banking #crm #customer #geospatial Brian Civin AfriGIS

In 2024, British banks, ranging from major players to mid-tier institutions and FinTech disruptors, have notably increased their investments in CRM software. According to FullCircl, the banking CRM software market has witnessed considerable growth, escalating from $13.13bn in 2023 to an estimated $15.40bn in 2024. With a robust compound annual growth rate of 17.3%, projections suggest that investments in banking CRM could reach up to $29.39bn by 2028. Read more here: https://lnkd.in/e8CXBkRT James Roberts

In 2024, British banks, ranging from major players to mid-tier institutions and FinTech disruptors, have notably increased their investments in CRM software. According to FullCircl, the banking CRM software market has witnessed considerable growth, escalating from $13.13bn in 2023 to an estimated $15.40bn in 2024. With a robust compound annual growth rate of 17.3%, projections suggest that investments in banking CRM could reach up to $29.39bn by 2028. Read more here: https://lnkd.in/eW3vQM48 James Roberts

Transforming Banking with Redian Software’s CRM Solutions! In today’s fast-evolving banking landscape, building lasting relationships with customers isn’t just an advantage—it’s essential. We are happy to announce the launch of our #bankingCRM called "BloomCRM" Our CRM solutions are designed to: 📈 Enhance Customer Engagement: Empower teams to understand client needs better, tailor personalized services, and respond swiftly to inquiries. 🔍 Increase Operational Efficiency: Streamline processes, improve workflow management, and reduce time-consuming tasks. 💡 Drive Data-Driven Decisions: Harness customer insights to drive smarter strategies, leading to improved satisfaction and loyalty. 🔒 Ensure Regulatory Compliance: Stay aligned with industry standards while keeping customer data secure. With Redian Software’s CRM, banks can achieve a more customer-centric approach, improve satisfaction, and drive growth. Ready to unlock the potential of your customer relationships? Let’s make it happen together! #RedianSoftware #BankingCRM #CustomerEngagement #FinancialServices #DigitalTransformation #CRM

🔅 The five - number summary can be used in various sectors such as but not limited to Telecom, Banking and E-commerce. 👉 In Telecom sector it can be used for: 1️⃣ Network Performance Analysis to analyze network performance metrics such as latency, bandwidth, and packet loss. By summarizing these metrics for different time periods (e.g., hourly, daily, monthly), they can identify patterns, trends, and potential issues affecting network quality. 2️⃣ Customer Usage Patterns: Telecom companies often collect data on customer usage patterns, such as call duration, data usage, and text message volume. By summarizing these variables using the five-number summary, telecom providers can gain insights into customer behavior, preferences, and trends, which can inform marketing strategies, service offerings, and capacity planning. 👉 In Banking sector it can be used for: 1️⃣ Customer Segmentation: Banks collect extensive data on customer demographics, transaction history, and account balances. By summarizing these variables using the five-number summary, banks can segment their customer base into groups with similar characteristics and behavior patterns. This segmentation allows banks to tailor their products, services, and marketing strategies to meet the needs of different customer segments more effectively. 👉 In E-commerece sector it can be used for: 1️⃣ Sales Analysis: E-commerce companies can use the five-number summary to analyze sales data, including order values, quantities sold, and revenue generated. By summarizing these metrics, businesses can identify the distribution of sales across different products, categories, and customer segments. This analysis can help identify top-selling products, assess pricing strategies, and optimize inventory management. 2️⃣ Customer Behavior: E-commerce platforms gather extensive data on customer behavior, including browsing patterns, purchase history, and cart abandonment rates. By summarizing these variables using the five-number summary, companies can gain insights into customer preferences, shopping habits, and decision-making processes. This information can inform personalized marketing strategies, and user experience enhancements.