April 6, 2024

CRM for bank efficiency: how it can boost your customer service

Discover how CRMs can empower your company for success by providing a top-notch customer service.
invoice and accounting documents on a desk

Outstanding customer service in the financial industry is becoming a necessity. According to a study, 20% of customers walk away from traditional banks due to poor customer experience. This loss significantly decreases revenue and market share. At the same time, 79% of bank customers are happy to spend more for convenience.

At this point, powerful Customer Relationship Management (CRM) software is a game-changer for banks facing customer service challenges. A financial CRM software collects and allocates customer details, providing financial institutions with a complete view of each client's personal information, interaction history, needs, financial goals, and communication preferences. 

At Noltic, we understand the importance of CRM in banking and the unique challenges banks face. We offer a variety of highly customizable Salesforce solutions to address specific needs and achieve the best possible results. In this article, we want to share our expertise and provide actionable tips on how banks can simplify customer onboarding, facilitate loan processing, personalize bank client management services, and integrate CRM with your existing ecosystem to prepare it for daily operations.

Certified Salesforce experts are ready to implement cutting-edge solutions for data automation, analytics, personalization services, and increased retention of your clients.

How CRM solutions for banks increase customer service

A well-integrated banking customer relationship management system goes beyond just storing account information. Banks can leverage customer data for strategic growth and personalized service. Here is how:

Account-specific cross-selling and up-selling

Imagine a wealth manager using CRM data to assess a client's recent inheritance and risk tolerance. The CRM can then suggest relevant investment products tailored to the client's newfound capital, significantly increasing the chances of a successful sale. Studies show that cross-selling can increase revenue by 20%, creating a positive outcome for both the bank and the customer.

Real-time needs anticipation

73% of customers want banks to understand their specific needs and expectations, and bank customer relationship management data can help view a complete picture of the client's situation. A CRM can analyze a customer's spending habits and trigger proactive outreach. For example, if a customer frequently travels internationally, the bank can offer a travel rewards credit card or foreign transaction fee waivers before they even consider those needs. This approach fosters a sense of value and builds stronger client relationships.

Automated promotions

CRMs allow for setting up customer service automation for banks along with marketing campaigns that deliver personalized promotions or loyalty rewards. Imagine an automated email or SMS campaign triggered on a customer's birthday, offering a special discount on a loan or a bonus interest rate on a savings account. These targeted promotions not only allow for the achievement of 47% growth in customer retention and satisfaction but also leverage a time-sensitive approach that can be highly effective. 

Sentiment analysis and proactive intervention

CRMs can integrate sentiment analysis tools that monitor customer communications for negative tones or dissatisfaction. This allows banks to identify potentially unhappy clients and reach out proactively to address concerns before they escalate. This proactive approach demonstrates that the bank values customer satisfaction and fosters loyalty by addressing issues rapidly.

Personalized gamification and reward programs

Gamification in banking employs the elements of game design, such as points, badges, and leaderboards, to increase engagement. CRMs can be used to design personalized reward programs based on a customer's financial habits.

For instance, users can earn points for using online bill pay or meeting monthly savings goals and then redeem bonuses for exclusive perks like discounts on financial products or priority access to customer service channels. This playful approach stimulates positive banking behaviors and strengthens a sense of loyalty among customers.

Bank CRM software features for improving client service and business efficiency

CRM has become a valuable tool for streamlining bank operations and providing a better customer journey. This software helps to reduce the time and resources spent on tedious tasks by facilitating workflows and analyzing valuable data. Here are six main features we want to highlight:

Customer data management

The essential feature of a banking customer relationship management system is to collect clients' primary data from various resources and store it in a centralized database. For example, bank employees can instantly access account information, transaction histories, loan applications, and previous customer interactions. By consolidating this data, bank CRM software provides a comprehensive view of each client to provide a better understanding and anticipation of their needs.

The data in CRM updates in real-time, so the bank ensures that its customers' profiles always contain actualized information. Most importantly, it provides relevant and timely services to the customers, like notifying them of unusual activity on the account or new financial products that would match their current economic situation.

Given the sensitive nature of financial data, bank CRM software prioritizes security measures and compliance with regulations like GDPR and PCI DSS. Features such as encryption, access controls, and audits help protect customer information and maintain trust.

Interacting tracking

Customers contact their banks in different ways: they can visit a physical branch, make a phone call, send emails, or talk to a personal manager on mobile apps or social media. CRM software tracks these interactions across all channels, ensuring no customer request is left unattended. This unified tracking system helps banks provide consistent and personalized banking services.

By maintaining detailed records about every customer interaction, CRM software enables service representatives to quickly refer to past communications and previous actions to resolve issues and build stronger customer relationships effectively.

Interaction tracking in CRM can also automate follow-ups based on customer interactions. For instance, if a customer inquires about mortgage rates, the CRM can schedule a follow-up call or send an informational email, ensuring that the customer feels valued and attended to.

Case management

CRM features allow banks to handle customer issues systematically. For example, when a customer reports a problem, the software automatically forwards the case to the appropriate team and tracks its progress, ensuring prompt resolution. 

However, some situations require immediate attention, while others can be resolved over time. Bank CRM software can prioritize cases based on various criteria such as urgency, customer value, or regulatory requirements. It also supports escalation protocols to ensure that critical issues are reviewed by senior staff or specialized departments. 

Automated workflows

Some routine operational processes can require a lot of time and resources, and CRM software aims to optimize them. For instance, the system can automate the loan application process from the client’s request to final approval. Banks also use CRM to verify documents and perform credit checks to reduce processing time and the possibility of human error. 

CRM automatically sends payment reminders and updates customer records so financial teams can prioritize more valuable tasks in their workflow.

Besides reducing time spent on tedious tasks, automation helps to ensure that all processes adhere to legal standards and are appropriately documented.

Customer segmentation

CRM allows banks to group clients based on demographics, transaction history, and behavior patterns. With segmentation, banks can create targeted marketing campaigns, offering financial products and services that meet specific customer needs and expectations. For example, younger customers might receive offers for mobile banking apps, while older clients might be targeted with retirement planning services. 

Segmentation also helps manage risks by identifying customer groups that may pose higher financial risks. Banks can then implement appropriate risk mitigation strategies, such as closer monitoring or offering specialized financial products designed to manage risk.

Service analytics

Omnichannel banking CRM can provide banks with insights into their customer service performance. Banks can measure customer support team efficiency, the number of resolved cases, and satisfaction scores and use this data to improve services and monitor progress.

CRM systems can predict future customer behaviors and trends by analyzing historical data. Hence, banks can determine and address potential issues, such as identifying customers at risk of defaulting on loans and offering preemptive assistance.

Service analytics also support strategic decision-making by highlighting key trends and patterns. Banks can use these insights to improve bank customer service efficiency, develop new products, and allocate resources more effectively.

Top 3 CRMs for bank efficiency and customer service

Each of these CRM solutions offers distinct advantages and features to address the demands of financial services organizations. Here is a quick overview of leading CRM providers:

Salesforce Financial Services Cloud

This thorough solution is developed to meet the specific needs of financial institutions, including those in the wealth management, banking, and insurance sectors.

Strong points 

  1. Comprehensive integration with various applications and services provides a consistent bank customer experience across different platforms.
  2. The platform is highly customizable to fit specific business needs and personalize customer services.
  3. Powerful AI and analytics tools like Salesforce Einstein facilitate sales and customer experience operations, boosting your team's productivity.


  • Consolidated view of customers' data such as financial profiles, accounts, transactions, and interaction histories.
  • Industry-specific tools for managing client investments, goal-based planning, financial accounts aggregation, and actionable insights.
  • Built-in features to help financial institutions comply with industry regulations and data privacy policies.
  • Integrated communication tools to facilitate cross-team collaboration. 
  • Features are accessible on mobile devices, ensuring that employees and advisors can access necessary tools on the go.
  • Routine tasks and workflow automation to improve efficiency and reduce operational costs.

HubSpot for financial services

HubSpot is a user-friendly CRM that combines customer relationship management with integrated marketing tools, making it a common choice for smaller businesses.


  1. An easy-to-use interface is accessible to users without solid technical skills.
  2. Integrated marketing tools combine CRM with marketing automation to manage customer relationships and marketing efforts.
  3. More affordable solution compared to other enterprise-level CRM solutions, making it suitable for smaller financial institutions.


  • Centralized database for managing customer interactions, sales, and service inquiries.
  • Tools for email marketing, social media management, and lead nurturing.
  • Sales pipeline management tools to track sales processes and discovery of opportunities.
  • Features for ticketing, live chat, and customer feedback collection.
  • Customizable dashboards and reports to track performance metrics and gain insights into customer behaviors.
  • Content Management System (CMS) for creating and managing various types of content and websites.

Microsoft Dynamics 365 for financial services

This scalable CRM solution integrates deeply with the Microsoft ecosystem, offering advanced analytics and management tools.


  1. Integration with other Microsoft products like Office 365, Azure, Outlook, and Power BI, enhancing productivity and collaboration.
  2. Scalability makes this CRM suitable for both small financial firms and large enterprises.
  3. Utilizes AI and machine learning to provide predictive analytics and insights.


  • CRM collects data from various sources to provide a unified view of customer information and interactions.
  • Tools for managing core financial operations, including accounting, budgeting, and financial reporting.
  • Features for managing risk and compliance, including fraud detection and regulatory compliance.
  • Comprehensive tools for managing sales processes, customer engagement, and marketing campaigns.
  • Integrated with Microsoft Teams and SharePoint for enhanced collaboration and document management.
  • Mobile apps for accessing key features and customer information on the go.

Why Salesforce Financial Service Cloud can be considered the best CRM for banks

Salesforce is a leader among CRM systems

Research shows that Salesforce is the world's leading CRM provider, with a market share of 21.7%. Financial Service Cloud stands out as the best CRM for banks, offering solutions that address the specific needs of financial institutions. Here’s why:

Salesforce benefits for banks

Industry-specific customization 

Salesforce Financial Service Cloud (FSC) is designed with the financial industry in mind. Unlike generic CRMs, it offers features and tools that address the challenges of banks and financial institutions. Equipped with these features, banks can streamline the onboarding process with automated Know Your Customer (KYC) checks and compliance management or facilitate personalized financial planning by tracking clients' financial goals within the CRM.

Another example is a pre-built dashboard that wealth managers can use to analyze client portfolios or compliance-ready templates for loan officers to expedite credit applications. This tailored approach ensures employees have the specialized tools they need to excel.

360-degree customer view

Salesforce Financial Service Cloud comprehensively analyzes each customer’s information, consolidating data from various sources. This perspective allows banks to access all relevant customer information, including data from personal banking, loans, mortgages, and investment accounts, in one place. Hence, banks can offer more personalized services and build stronger client relationships.

Advanced analytics and AI

Integrating advanced analytics and AI in FSC provides actionable insights to increase bank profitability. For example, predictive analytics can forecast client behavior based on historical data to highlight the customers likely to invest in new financial products.

Risk assessment tools analyze transaction patterns to identify potential fraud or credit risks, empowering banks to mitigate threats proactively. Einstein AI, the power behind Salesforce's AI capabilities, goes further by generating content within the workflow and helping teams achieve results faster. 

Seamless integration

CRM integration procedures enhance operational efficiency by managing diverse data sources, including Salesforce Service Cloud and external systems, through applications like OmniScript, FlexCard, API, or Apex.

By connecting core banking platforms, portfolio management systems, and other relevant applications, Salesforce FSC connects financial, transactional, and CRM data to get a comprehensive view of customer data across platforms, further enhancing service delivery and operational efficiency. 

The Transition Assistant feature simplifies the migration process by providing automated metadata mapping, identifying potential conflicts, and highlighting components that require manual migration, facilitating a smooth transition.


Salesforce Financial Service Cloud adapts to organizations’ needs, from small community banks to global financial institutions. The CRM’s scalability ensures it can grow alongside your organization, accommodating an expanding client base and evolving business requirements. This solution can seamlessly integrate new branches, onboard additional advisors, or manage a surge in online banking activity without compromising performance.

Mobile and remote capability

Today's clients expect anytime, anywhere access to their financial information. The Salesforce mobile app provides full CRM functionality on smartphones and tablets, enabling bankers to review customers' profiles and manage tasks on the go. FSC supports remote financial advisory services through integrated video conferencing tools so employees can offer investment advice remotely. 

Financial teams can also stay informed with real-time alerts and updates about essential customer activities. This approach fosters convenience for clients and your team, improving bank customer satisfaction and productivity.

Learn more about Salesforce Financial Services Cloud in our detailed guide.

Increase your bank's operational effectiveness with Noltic 

As a Salesforce Consulting Summit Partner, Noltic is recognized for extensive experience, expertise, and success in implementing Salesforce solutions. With a proven track record in consulting, managing end-to-end integration, and providing ongoing support, we know how to leverage Salesforce to meet clients’ business objectives and deliver maximum value.

During our cooperation with the leading American bank specializing in B2B services, we successfully transformed bank data management. This financial organization sought a new CRM system to facilitate data maintenance and boost sales.

Leveraging Salesforce, we built a fully customized CRM with a modern, user-friendly interface. This improved functionality, organized daily operations, and minimized time spent interacting with the CRM, freeing up the sales team to focus on clients.

Our collaboration extended beyond the CRM. We created a custom Marketing Package and integrated it with the Salesforce platform, which provided the bank’s marketing team with enhanced automation tools to support their campaigns.

The results speak for themselves: 

Benefits of implementing Salesforce for banks and financial institutions


In today's digital age, with customer expectations constantly rising, banks can no longer afford to rely on outdated methods of client relationship management. A reliable bank customer service CRM system, thoroughly adapted to address the demands of the financial industry, offers a powerful solution.

A Salesforce Financial Services Cloud CRM empowers banks to deliver exceptional service, facilitate operations, and cultivate lasting client loyalty by fostering a 360-degree view of clients' profiles, automating repetitive tasks, and providing data-driven insights.

With over 80 successfully delivered projects, we know how to help your bank maximize Salesforce’s data-driven insights, financial industry-specific customizations, and automated workflows to skyrocket your customer experience.


Is a CRM safe for storing customer data in banks?

Security is a crucial priority for banks, and reputable CRM providers focus on data security. Look for features like encryption, access controls, and regular security audits. However, the ultimate responsibility for data security lies with the bank. Financial institutions should implement strong data governance practices and user access controls to ensure the safe storage of customer data.

How can banks get started with a CRM?

Getting started with a CRM involves several steps:

  • Identify areas for improvement and desired functionalities.
  • Research CRMs tailored for the financial industry, such as Salesforce Financial Services Cloud.
  • Learn about the implementation process and best practices.
  • Ensure accurate data import for optimal CRM performance.
  • Organize comprehensive training for your team.

Can a CRM integrate with existing bank systems?

Many CRMs have comprehensive integration capabilities. Look for platforms with open APIs or pre-built connectors for seamless integration with your core banking system, loan origination software, and other critical applications.

How can banks use a CRM for marketing purposes?

A CRM empowers banks with targeted marketing capabilities.

  • Segmentation: Tailor campaigns based on demographics, financial products used, or banking behavior.
  • Personalized communication: Deliver relevant marketing messages through preferred channels.
  • Automated campaigns: Streamline lead nurturing and customer engagement.
  • Campaign performance tracking: Gain insights into campaign effectiveness and optimize future efforts.

What factors should banks consider when choosing a CRM?

When selecting a CRM for your bank, several crucial factors come into play. First and foremost, CRM should be explicitly designed for the financial industry. This guarantees features that align with your needs, from regulatory compliance to wealth management tools.

Choose a system that can expand alongside your institution, accommodating future growth and evolving needs. Security is a non-negotiable aspect for banks. The CRM should meet your bank's stringent data security requirements, ensuring the safety and privacy of sensitive client information.

Oleksandra Petrenko
Content writer
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