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Customer Relationship Management Trends in the Banking Sector

Microsoft recently released a press release in the Wall Street Journal about some of their customers in the Banking sector around the world that are “customer-focused” and have implemented Microsoft Dynamics CRM to transform and modernize their operations.


What does “customer centric” mean?

The way banks engage with their customers has fundamentally changed and the predictability of customer interactions is a thing of the past. Customers now use and expect to be able to use multiple touch-points or channels to interact with their bank; from the traditional channels of call centers and branches to the modern social media platforms and mobile devices. Put simply, it means that when a customer deals with their bank, regardless of which channel they use, the expectation is that the experience will be consistent and integrated. The customer is a single entity regardless of whom or which team within the bank is currently engaging with them.  


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What kind of transformation and modernization is required?

To move to a customer centric model, banks must harness large amounts of transactional and operational data quickly and effectively.  This will ensure valuable customer-specific information is available to the relevant individuals and teams so they can understand their customers. Along with capturing this data, Banks must also have the ability to analyze and use the large amounts of captured data to understand customer needs and expectations. Banks must integrate their existing customer channels to create a single view of the customer, improve the customers overall experience with their engagement, and effectively create cross channel experiences. Banks must also be able to adopt and include new channels as they emerge. Finally, to meet the transformation and modernization challenges, banks must embark on their transformation and modernization journey in a very agile and rapid manner to ensure their staff and systems remain relevant and minimize disruption when engaging with new and existing customers- customers have many avenues to voice their dissatisfaction and frustrations.


How can HP help with Microsoft Dynamics CRM?

HP is currently engaged with customers in the Financial Services and Insurance (FSI) industry to provide end to end implementation and consulting services for Microsoft Dynamics CRM. This includes business-end transformation consulting services, technology modernization and implementation services as well as IP and Accelerators developed specifically for the FSI industry that is helping our customers move to a more customer centric engagement model. Our innovative delivery model maintains the governance and management disciplines of a traditional waterfall style project methodology whilst at the same time providing “agile” like flexibility to refocus development where necessary ensures that the Microsoft Dynamics CRM solutions that we implement are well aligned to needs of our customers and is able to be implemented in a shorter timeframe thereby decreasing the time to value (TtV). HP also has deployment options that harnesses the latest disruptive innovations such as Social, Mobile, Cloud and Big Data to deliver solutions to our Banking and Financial Sector clients that incorporate Dynamics CRM complimented with the best of breed HP and third party technologies. What is your bank doing to improve customer centricity? Please share your experiences.

Brad Hodson | ‎09-24-2013 05:43 AM

It's all about the customer. Business was always about the customer at the beginning; that's why you get into business. Unfortunately, many companies tend to forget that as they start enumerating their customer base with endless spreadsheets and reports.


We musn't ever forget the human element of CRM, which has a profound effect on our relationships with our customers and our sales figures. Business also becomes much more rewarding when we work to help individuals improve their lives with our products and services.

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About the Author
Shafraz Nasser is the Lead Microsoft CRM Architect with HP Enterprise Services in the South Pacific Microsoft Dynamics Practice. His focus i...

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