Implementation of CRM system in Financial institutions – Bank

Financial institutions are extending their services 24×7 through internet banking and limited interactions with customers over the branch. So they required a powerful crm to cater to their customers with limited time and resources. Human resources are much more costly than ever. Over the period of time CRM is not just a contact saving application but it’s turned into a super employee who works for you 24/7 with tiredness or any complaints. Financial institutions have multiple products with different nomenclature. If your crm is smart enough it can create you the wealth and loyal customers forever 

Major concerns while choosing a CRM 

• Security and data protection 
• Connecting time 
• Huge licensing fee 
• Communication Cost 
• Handling concurrent requests 
• API compatibility with Core banking applications 
• Vendor lock and huge licensing fee 
• Phone integration – IVR, ACD, QUEUE, Phone banking system etc  
• Least cost best route for reaching out the customers 
• Over communication leads to loss your loyal customers  
• Technology empowered contact centers can reduce human efforts to 50% of its actual work and satisfy the customers

These are the major concerns while implementing a CRM system in a financial institution. 

Oricoms CRM was built after multiple discussions with financial industry experts, consultation with thought leaders and solution architects with long industry experiences specific to the financial service delivery platforms.  

Oricoms started its journey in 2010 with a call Centre implementation and now its 360 degree communication management software around 21 revisions and still the new revisions are on the product road map. As the technology and trends change the government shall come with more regulations and security standards that ensure the customer protection. Solution providers should update the new rules and regulations into the software and implement cyber security to protect customer data.