Single-Source CRM Solution for Retail Banks
The financial services industry is witnessing cut-throat competition, and retail banking in particular has several challenges to surmount. Customer churn has evolved as the most significant threat with the ever-surging demand for convenience and best-in-class service. Long cycle times, lack of standardized information and increased workload also affect performance of retail banks.
Infosys' Single-Source CRM solution addresses retail banks' unique requirements. It facilitates seamless integration of Salesforce.com CRM application with in-house customer databases and third party systems.
Salient features of the solution include:
- Application management
- Intuitive wizard and product catalog
- Household/ customer hierarchy with 360-degree customer view
- Report generation on customer trend, lead closure summary and marketing demographics
- Tracking Return on Investment (ROI) trends from marketing channels, defining most suitable channels and targeting demographics with high predictability
The solution ensures cost savings in comparison to building a new one. Besides, banks can expect accelerated ROI and increase in efficiency with reduction in cycle time in opening new accounts. The solution also curtails risk and costs associated with customer abandonment and discards dependency on multiple systems.