One Size Does Not Fit All: Why Banks Need Their Own Solution

About a year after we founded 360 View, one of our existing clients — a small community bank — asked us to help them find a good CRM solution. We would soon discover that finding a CRM that met all the needs of a financial institution was surprisingly difficult.

As we searched for an answer, we kept running into the same problem: all the options we found had been developed for businesses, not banks or credit unions, and the prices were not affordable to the average community financial institution.

With more research and development, we realized there was a hole in the market: banks weren’t able to use just any CRM. They needed one to meet the specific needs of financial institutions so they could have a truly comprehensive view into their customer relationships.

So we decided to build one.

Here are some of the reasons why it became clear to us that financial institutions need their own solution (and how we answered those in our own product development process).

1. Banks Need a CRM That is Compatible with Existing Systems

Like other companies, financial institutions need to be able to see all customer data in one place. Unlike most other organizations, however, banks already have complex systems in place that must be a part of the equation. That’s why our solution combines core account and third-party data to provide a truly comprehensive view. Now credit card, business merchant, wealth management, or online banking account data can combine with core checking or savings account information, allowing financial institutions to leverage data to build strong relationships and get actionable insight.

2. Banks Need a CRM That is Easy for Everyone on Their Team to Use

In a financial institution, people from across multiple departments need access to and insight from the CRM. It’s not just the sales team needing to track where prospects are in the funnel; it’s also frontline employees who need to be equipped to serve anyone who walks into their branch, marketing teams who want to trigger automated messages, call centers who track customer service items, back office teams who want access to all customer touchpoints, and more. As such, we wanted to design a tool that could be used by everyone on your team. That meant creating an intuitive interface that made it easy to track and report on each stage of the sales and service paths — while automated incentive programs prompt and encourage the process.

3. Banks Need a CRM That Can Meet Their Specific Needs

Ultimately, one of the things we found was that each financial institution’s needs were unique. A one-size-fits-all approach wouldn’t work. To facilitate smooth implementation and adoption, it’s important that your software meets the real needs of your company's business processes. That’s why we built the 360 View CRM with a completely customizable platform that allows you to tailor your unique workflows and processes, including custom dashboards, reporting, and marketing programs to your company’s objectives.

Once community financial institutions began using our solution to better manage their daily operations, it became clear that the problems we had identified in the research and development stage really were being solved by a bank-specific CRM solution.

We’re proud to have created a software that is powerful but easy to use, can help everyone working in community banks and credit unions do their jobs better and — for perhaps the first time — give users a true view of a customer’s relationship and value to a financial institution at a moment’s click. If you’d like to see how 360 View could work for your financial institution, we’d be happy to set up a demo. Get in touch.