By Seth Patton, Worldwide Industry Solutions Director, Microsoft Dynamics
Any good banker will tell you that a bank’s customers are its most important assets, and that has never been truer. The challenge for today’s banks is that those customers have more access to information than ever before, and they can use that information to take their business to a competitor without their original bank ever having a chance to change their minds. That makes proactive customer retention critical to any successful financial institution.
It’s essential for banks to understand their customers to help build loyalty and grow their business. We all know that it’s easier to retain customers than to get new ones. Microsoft Dynamics CRM redefines how businesses engage with their customers by delivering exceptional customer experience and interactions. Financial institutions are drawn to its customer-first design philosophy to deliver a more personal experience to their customers, enabling them to improve customer retention and fuel growth.
This morning, in conjunction with this year’s SIBOS event, we announced new momentum and success that several banks around the world, including the UK’s Metro Bank, Hungary’s MKB, Volkskreditbank of Austria and ABN AMRO Bank of the Netherlands, are achieving because of their use of Microsoft Dynamics CRM to deliver exceptional customer experiences. Here are a couple examples:
- Volkskreditbank (VKB) AG tapped Microsoft Dynamics CRM to help it become the most customer-oriented bank in Austria. The results have been undeniable: a 32-percent boost in sales productivity, an 18-percent increase in customer service quality and a 95-percent decrease in the time needed to provide analyses and reports, giving managers and executives a near real-time view into the health of the business.
“We needed a CRM solution to power our entire bank, not just a single division or set of products,” said Michael Reifetshamer, IT manager at VKB. “Our experience with Microsoft Dynamics CRM shows that we made the right choice.”
- “Dynamics CRM is a robust solution tool,” said Su Kia Tan, head of Process & Project Management for ABN AMRO Bank. “We use it to support our end users in managing business growth and productivity improvement with necessary controls built on customized and streamlined workflows.”
There are no shortcuts to great customer service. We want our customers to think about how they can help their customers match to the right solutions, engage on the right terms and nurture their customers to ensure that every engagement they have with them is amazing. That belief is at the core of the next version of Microsoft Dynamics CRM, which will be released later this year.