Sage CRM for Banking & Financial Institutions

Customer Relationship Management (CRM) brings a variety of benefits across the full spectrum of the customer ecosystem while recovering the investment made, when adopted correctly. In this white paper, we share some of the highlights of the CRM for Banking Solution built on the Sage CRM platform and the benefits it offers to Banks.


Banking in the new world era is very competitive and therefore it is important for the bank to understand from the perspective of a modern customer and the customer’s requirements, therefore it is imperative that a bank’s customer facing team be enabled & empowered with a CRM system that aids them in managing the entire customer relationship cycle be it a new customer to bank relationship or an existing customer to bank relationship.

From a bank’s perspective, the CRM system should provide a platform for building blocks of the customer lifecycle and engagement strategy that enables a bank to leverage on the practices that eventually lead to improvement of organizational performance in context to attracting new customers, keeping customers satisfied and of course customer retention. The CRM system should also be able to suggest the best way to communicate and market their cross-selling products to the prospect customers

CRM in banks has evolved from a customer facing application to a customer-centric strategy that manages the complete cycle from customer interactions to branch operations through central operations. A lot of banks have started engaging with modern communication & collaboration tools such as social media for faster and better customer communications and also to hear what customers are saying, understand the customer sentiment about the bank and its brand. Banks continuously embrace, with great favour the latest development in customer relationship management and information and communication technologies in order to service better and reap more profits. If banks employ cutting-edge technologies to service their customers efficiently, regulatory requirements.

The use of CRM in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by the bank in today‘s competitive environment.


Banks typically are challenged with the need to

  • Cope with an increasing volume of multichannel interactions with the customers.
  • The shifting customer trends, where the banks are required to change products, process, and channels to attract customers.
  • Adopt business automation to improve sales turnaround time (from Lead to Customers), reduce manual data entry and increase speed of the process.
  • Customer information lying in islands of databases therefore the non availability of an intelligent, unified view of customers and their needs
  • Identify and cross-sell products, from multiple repositories & systems.
  • Customers, faced with an increasing array of banking products and services, are expecting more from banks in terms of customized offerings, attractive returns, ease of access, and transparency in dealings. Therefore retaining customers is a major concern for banking institutions which underscores the importance of CRM. Banks can turn customer relationships into a key competitive advantage through strategic development across a broad spectrum.

Benefits of CRM to Banks

The implementation of CRM in banking sector generates benefits not only to banks but also to the customers.

  • Improvement in Customer Service via turnaround time
  • Value enabled cross-selling which in turn increases revenue & Top line
  • Better control on quality of customer details and product details
  • Better visibility of a customer and the customer’s needs there by creating customer segments whether they are geographical, transactional in nature
  • Increases the operational efficiencies and collaboration by automating the process and business activities which in turn reduces the process time and manual tasks.
  • The customer portfolio management (CPM) is an added benefit to banking business. As part of CPM, banks segmented markets, costing done based on activities, estimated the life time value of customers, and data mined to realize the strategically significant customers.

As a bank diversifies itself into a multitude of services such as commercial banking, retail banking, investment banking / capital markets, banc assurance, broking services & wealth management, the kind of customer portfolio a bank has will vary from an end customer / company. The processes for managing customers & the customer touch points also vary such that there will be a relationship manager for a corporate customer or a high net worth individual vis-a-vis a branch / telephone banking servicing a retail customer / house hold (joint account).

Hence while deploying a CRM a bank needs to consider how it can address the concerns of customer facing employees across these different businesses of a bank. For e.g. the needs of a commercial bank from a CRM perspective can be totally different from that a retail bank.

Sage CRM is an easy to use, fast to deploy, feature-rich CRM system providing enterprise-wide access to vital customer information—anytime, anywhere. With Sage CRM, a bank can better manage business by integrating customer facing departments such as field sales, internal sales, customer care, and marketing information

Sage CRM for Commercial Banking

A commercial bank’s crm profile of a client organization should begin before they become a client via a prospect record. When a bank offers its full suite of commercial banking products to the potential clients, such as working capital / term lending, foreign exchange management, factoring, cash management and trade services, In the initial phase of client engagement only a few attributes of client information would have been available at the time of recording, over a period of time researching and engaging with the client profile would help the sales team of a commercial bank, one that would help win their business. Also all sales activity related to different products would be involved from mapping of a client record perspective. Sage CRM is designed to address & be able to manage the bank’s sales team across products in the acquisition of new to bank customers via sustained contact through different channels of communication such as a physical meeting, email and more recently social media.

Benefits of Sage CRM for Corporate Banking


  • provides a centralized platform for managing a list of targeted clients/leads
  • allows mapping of Relationship managers to the targeted clients that involves product lines & product managers
  • allows a relationship manager to systematically track sales activity on each of the targeted clients via call reports
  • streamlines the entire process of lead->indicative offer(quote)->facility->credit approval->disbursal->servicing process via a built in workflow.
  • allows the tracking of all indicative offers that are sent to clients
  • allows a relationship manager to convert an indicative offer into a facility that needs approvals
  • allows the ability to keep track of all credit approvals & disbursals
  • facilitate information flow among relationship managers, product managers, banking product heads that can be related to sales & service
  • allow banking product heads to monitor the performance of relationship managers

Benefits of Sage CRM for Private Banking

Sage CRM provides a private bank with an increased capability to proactively track and manage customer behaviour and relationships over time, and drive profitable transactions by knowing the impact of customer related activities on customer behaviour, before the activities occur.

  • provides a centralized platform for managing a list of retail customers across multiple products by integrating to the CBS
  • allows profiling of clients/leads based on geographic/demographics, psychographics, behavioural, risk profile.
  • allows mapping of relationship managers to retail customers
  • allows a bank staff to service a customer if the new to bank customer walks into the branch for a new application that may be related to Savings/Current/Loan products
  • automates the entire application process along with documents also maintaining the entire interaction details that transpired at the branch. when an application is approved for processing from the front office bank representative ,it flows into the CBS as a customer information file
  • all kinds of customer requests from the time of account creation such as cheque book issue, account opening(current, savings, loan, credit card), pin change, ATM card issue, card fraud, e-banking, DD are processed within Sage CRM.
  • Integrates via all customer communication channels such as Phone/IVR, SMS, Email through its call centre suite.

Benefits of Sage CRM for Wealth Management

Sage CRM assists in tracking and converting all prospective clients into converted clients thereby increasing the efficiency of the Business and contributing to the growth of the client strength and satisfaction. Sage CRM helps a bank to provide a better customer experience to its customers overall.

  • provides a centralized platform for managing all leads
  • helps in capturing Know your client & Client initiation forms
  • allows mapping of financial advisors to wealth management customers
  • allows all customer facing bank staff by integrating to multiple channels of communication & manage customer contact history to service the customer effectively
  • Publish all clients that were prospects into wealth management product systems such as portfolio trackers
  • Servicing all customers for any requests related to various instruments
  • Integrates via all customer communication channels such as Phone/IVR, SMS, Email through its call centre suite/email management module.


Typically a customer and the product portfolio along with the customer transactions are stored in a core banking system in a product centric silo scenario which contain typically all back office activity within the banking organization. However a 360 degree view of a customer is only possible when all the customer’s product portfolio is merged together and brought inside Sage CRM to enable a bank’s customer facing department for operational engagement such as customer servicing, customer acquisition to new product lines, promotional offers, cross selling / up selling activity eliminating manual tasks and reducing process time. Straight through processing abilities enhance reduction in turnaround and processing time, increasing output and enabling speedy completion of tasks, which can mean whichever customer the bank speaks to, irrespective of whether the communication is from sales, finance or support, the bank is aware of the interaction. Removal of inconsistencies of data makes the client interaction processes smooth and efficient, thus leading to enhanced customer satisfaction.