Want to Win Against FinTech Disruptors? Use CRM Automation

Winning with CRM AutomationFinancial technology (FinTech) is transforming the financial services marketplace, according to PwC. They’re using technology and mobile platforms to slash costs and bypass intermediaries. They offer low-cost solutions that are simple to access and easy to use. In the process, they’re upending the status quo.

How can financial services providers make sure they can compete with these innovations?

With their own technology – specifically, CRM – that can help them give clients a highly personal experience. This is a key competitive differentiator. Consider the words of Torsten Eistert, Partner with A.T. Kearney, a global management consulting firm, in his article, Cultivating the Customer Relationship in Banking:

“Improving CRM is a means for banks to grow and prosper. During a recent panel hosted by the European Financial Management Association and A.T. Kearney, most experts agreed that services, not products, are how banks (will) stand out in a commoditized future.”

Introhive specializes in improving your existing CRM by automating it so you can easily provide the high-touch service that will help you stand up to high-tech innovation. This includes:

  • Providing a 360-degree, real-time view of the customer. Introhive achieves this by automatically aggregating information from internal and external sources so you can be assured the information in your CRM is up-to-the second and accurate. This is absolutely critical, notes Gene Marks, CPA, and columnist for publications such as Forbes and The Washington Post. “An audited financial statement is deemed complete and accurate. The same with a CRM system because the system is nothing more than a database. If the data is junk then your CRM system is junk,” he points out. “To make sure it’s quality you have to make sure it can be easily accessed by your employees (web, mobile) and it has built-in internal controls that are monitored by your in-house super-user/administrator who is tasked with making sure the database is complete and accurate, just like your clients’ financials. If you can’t keep your database in good shape, don’t get a CRM system.”
  • Streamlining workflow for client-facing professionals. Because Introhive automatically enters the information that previously had to be entered manually, client-facing professionals can spend more time focusing on those they serve instead of doing data entry. This eliminates the inaccuracy or gaps that can come with human error.
  • Creating more personalized customer-service experiences. Without ever having to log into the CRM, your client-facing professionals can effortlessly attain information to help them provide the kind of attentive, personalized service that will convince clients how important they are to you. This information includes:
    • Previous and present accounts
    • All customer interactions, including emails and meeting notes
    • Relationships within the organization
    • Potential opportunities, and more

    Client data is packaged so it’s easy to understand in the formats your team uses most, such as Word or Excel, and delivered via email on the platform they prefer, whether that’s mobile, tablet or laptop. There’s no navigating across a CRM system to gather and analyze data.

    Why is this important? Consider the words of Ray Beste, a partner with Sikich, a top 100 accounting firm:

    “Having a central repository of customer and prospect information that can be shared when appropriate can surface relationships and details about relationships otherwise hidden in standalone systems,” he points out. “Coupled with CRM systems, today’s intelligence services can aid in completing the full picture with little physical effort by the user.  All this additional information therefore allows users to know more about their customers and prospects to provide them more accurate solutions.”

  • Making it easier to quickly identify at-risk clients and respond appropriately. Introhive relationship analytics can automatically integrate client information into your existing reports and dashboards. The goal: To help you quickly see whether a client is stable or at risk, so you can always be certain you have everything you need to know to move your relationships in the right direction.

Don’t sweat FinTech innovations. Instead, stand up to them with CRM automation that will help you effortlessly provide the personal touch that will make you stand apart from the competition. Find out more about what Introhive can do and see how it works.

Related Posts

Leave a comment