Microsoft Dynamics CRM is transforming the financial services industry

Will Astbury
by Will Astbury 18 February 2016

Microsoft-Dynamics-CRM-is-transforming-the-financial-services-industry.pngOver the past few years the financial services industry has had to overcome some major challenges and changes.

I’m not just talking about the global economic crises, but also the legislative, cultural and technological shifts brought about by the escalating impact of digitisation and new players in the market place.

One solution that many Chief Information Officers have already turned to is Microsoft Dynamics CRM. At this point you’re thinking “Here we go…”, but actually more than 6,000 financial services firms are utilising the capabilities of Microsoft Dynamics CRM. AND, we at Crimson, a Microsoft CRM Gold Partner, are working with several clients across the sector including the likes of Volkswagon Financial Services, International Group, Trade Finance, and eBury Partners.

How can Microsoft Dynamics CRM 2016 address the challenges to the financial sector?

Mobile technologies and the cloud have been game-changing for many financial organisations, as they have significantly raised B2B and B2C customers’ expectations in terms of accessibility, experience, and security.

Microsoft has a vision to transform the transaction-centric model of the financial services industry that’s been the mainstay for many years to a customer-centric model.

Their CRM solution can address the problems of the changing customer landscape, the struggle for profitability, the growth of social and mobile technologies, and increasing regulatory compliance. It provides:

  • A 360-degree customer view, using customer data, history, and analytics to drive better, more efficient, and more profitable interactions with customers. Advisor 360, Microsoft’s sales productivity solution, provides financial service advisors with role-based tools which help them give greater value to clients. This system works intuitively and gives advisors more time to deal with each individual customer’s unique needs. Financial services firms can improve their focus on the customer and help drive growth with broad advisory capabilities, including; deal planning, next best offer, product renewals, financial planning, and insightful dashboards and visualizations. Additionally, via the powerful workflow capabilities of Microsoft Dynamics CRM, processes such as customer/account on-boarding, loan origination, product enrolment, or renewals can be automated across the organisation.
  • Personalised customer experiences delivered through pinpoint targeting, offers that are customised to meet identified needs, and highly relevant customer service. Microsoft Dynamics CRM service is designed to help win long-term customer loyalty with effortless customer service that’s responsive and tailored. It can operate via web, social, chat, mobile, and phone channels. It has streamlined tools that empower agents to be more effective in driving successful resolutions while keeping the cost of service down. Financial firms can transform how they service their customers with Dynamics Service capabilities, including; robust case tracking and resolution, intelligent queues, SLA and entitlements management, as well as seamless service scheduling, self-service, and knowledge management capabilities. The new Unified Service Desk (USD) solution also provides a single joined-up experience for call centres that want aggregate key call centre related systems into a single agent console, whilst streamlining service resolution and improving staff productivity. Embedded Lync and SharePoint capabilities make it easy to find and communicate with experts and colleagues to resolve service issues.
  • Operational efficiency improvements achieved through familiar tools like Microsoft Outlook and workflows that streamline processes across the organization. Extended CRM, is a platform on which customises and extends Microsoft Dynamics CRM to address new opportunities throughout the business. It enables financial services organisations to create new solutions and iterate rapidly. By providing a flexible data model and easily customised user interface, as well as robust analytics, dashboards, workflow, and security capabilities, Extended CRM frees you from worrying about application infrastructure so you can focus on building powerful solutions. Extended CRM also helps support regulatory compliance solutions with built-in access and privileges control, auditing, process automation, and communication privacy settings. Today, financial services firms are using Extended CRM to create a wide variety of solutions, including:
    • Account On-Boarding
    • Loan Origination
    • Credit Analysis
    • Regulatory Compliance
    • Broker Management
    • Underwriting
    • Risk Management
    • Portfolio Management
    • Asset Management
    • Agency Management
    • Vendor Management
  • Cost-effective mobile and social technologies that are delivered seamlessly in Microsoft Dynamics CRM, giving your staff access to relevant information and tools, anywhere, anytime. Microsoft Dynamics Marketing requires not just tools to launch marketing campaigns efficiently, but also analytics that enable you to target and tailor them to your customers, monitor their performance, and measure ROI. Dynamics Marketing includes solutions designed to help financial firms build the pipeline and achieve quantifiable results with a set of unified marketing capabilities that help you segment your customer base, generate more qualified leads, identify high-probability opportunities, and manage core marketing areas like events, ad campaigns, creative content and landing pages. Financial service firms can further optimize their marketing efforts with powerful email and permission-based marketing, social sentiment analysis and marketing intelligence capabilities in Microsoft Dynamics CRM.

If you would like a FREE 30-day trial of Microsoft Dynamics CRM click the image below. It’s on us!


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Topics: CRM