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5 Strategies for Digital Transformation in Banking – Strategy 4

December 10, 2019   CRM News and Info

There are 5 strategies banks can use to overcome challenges with the help of Microsoft Dynamics 365.

Strategy 4: Build consumer relationships through data and digital transformation

Banks recognize the need to enhance their competitiveness and create an agile, sustainable advantage.

A bank’s unique customer data provides a rich repository from which to draw. This translates into a significant opportunity to cross-sell and up-sell products and services that are relevant to the consumer.

Data intelligence helps turn the raw data into targeted, effective value propositions and marketing strategies.

How Dynamics 365 can help: Customer Insights helps you engage your customers with intelligent insights

Crowe CRM for Banking provides rich data visualizations to help you better understand the customer. By composing role-specific visualizations that bring together customer profiles, interactions, metrics, inferences, and predictions, you can uncover new insights with the security and privacy you require.

Banks can use predictive analytics to understand and expand customer lifetime value. Relationship managers can check overall account, loan, and churn rate, which can help them foster customer loyalty. Predicted lifetime events, such as buying a car or college for kids, help relationship managers recommend the next best product or service.

“Smart use of data can enable us to re-establish personalized services and bring back customized one-to-one relationships between the bank and the customer.”

Source: Alex Nechoroskovas, Founder of Fintech Summary

81 percent of financial services CIOs say advanced analytics have the most potential to change organizations.

Source: Gartner, “2017 CIO Agenda: A Financial Services Perspective,” Feb. 9, 2017

Interested in more strategies? Download the full white paper: 5 Ways Banks Overcome Strategic Challenges with Microsoft Dynamics 365

Learn how banks can use Microsoft Dynamics 365 to help improve the customer experience, streamline processes, optimize opportunity management, build relationships, and modernize lead generation.

Crowe CRM for Banking

Crowe works with 1,800 financial services organizations across the country, including more than two-thirds of the top 100 U.S. banks. With Crowe CRM for Banking powered by Microsoft Dynamics 365, you can get a true 360-degree view of the customer – with a single view into all communications, interactions, operations, and relationships.

For more information about Crowe CRM for Banking, contact us at +1 877 600 2253 or visit www.crowe.com/crm.

By Ryan Plourde, Crowe, a Microsoft Dynamics 365 Gold Partner www.CroweCRM.com

Follow us on Twitter: @CroweCRM

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CRM Software Blog | Dynamics 365

Banking, digital, Strategies, Strategy, Transformation
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