Get the Full Picture of Bank Relationships with Microsoft CRM

Banks are always looking to expand and improve their client base. Personal Bankers, Financial Consultants, Business Bankers, and Loan Officers are always in search of high net worth individuals and business owners while Private Bankers covet ultra-high net worth families. Without a clear picture of a client’s total assets and liabilities, Banks will find it difficult to adequately serve and grow relationships with their customers.

Though Banks may employ Relationship Managers to quarterback the relationship with their clients, there may be a time when a client interacts with the Bank on their own. For instance, imagine the case of a client with a multi-million dollar net worth who happens to own numerous businesses and have multiple deposit and loan accounts opened with a Bank. One Saturday, he decides to respond to an offer he received on a travel rewards credit card because he knows he will be traveling a lot in the near future. So the client calls in to apply for the card. Much to his chagrin, however, the client is rejected for the card due to having too low of a credit score. Oops! As a result, the client becomes livid, yells at the call rep, leaves a wicked voicemail for his Banker, and closes half of his deposit accounts and pays off all of his loans on the following Monday. Ouch!  It turns out his credit score had indeed declined years ago as he used some leverage to grow a few of his companies. Recently, though, his credit has improved and he does after all have multi-million dollar deposit and loan holdings with the Bank. The probably here, nevertheless, is that the credit card call center rep did not know the extent of his other existing relationships with the Bank. If the rep had access to such information, which can be easily be brought in from multiple core banking systems into Microsoft Dynamics CRM and viewed by all Bank employees as seen in the example below, this crisis could have been averted.


On a related note, imagine if the client was actually approved for the credit card and a few months later decides that he wants an increase in his credit limit. Sure enough, underwriting decides to deny the request because once again all they are looking at is his credit score, and the Bank’s cookie cutter policies do not factor into the overall client relationship. With CRM, though, total asset and liability values along with client tenure and profitability rankings can all be centralized for easy viewing. Front-line and back office Banking staff can use this key data for enhanced and case by case decision making to accommodate and approve the client’s request. Doing so will definitely earn the trust and repeat business of this and other highly profitable clients for the Bank.

Top-tier clients with complex portfolio holdings deserve special treatment from the Bank and CRM makes this possible. Without a robust, comprehensive, and intuitive system, such as Microsoft Dynamics CRM and the financial services industry-tailored platforms from Customer Effective, though, Banks will continue to miss out opportunities to better serve the mass affluent and high net worth markets.