Banks aren’t what they used to be — the days of stuffy vaults and high counters are long behind us. Banks of the modern age need a modern way to interact with customers, and CRM software offers just that. But which CRM software do banks use? To answer, our research team has compiled a list of the top CRM for banks to help you stay informed.

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Article Roadmap

• Best Banking CRM Software
  • Salesforce Financial Services Cloud
  • Creatio
  • CRMnext
  • Oracle CX Sales Cloud
  • Dynamics 365 for Sales
• Benefits
• Next Steps

Before we delve into the list of best products, let’s go over what a CRM for banks exactly is. As the name suggests, it’s a customer relationship management solution for banks that helps manage clients, deals, pipelines, communication and more.

With features like tracking, analytics, performance management and customer segmentation, it enables sales and marketing teams to put their best foot forward while engaging with customers.

Best Banking CRM Software

You’ve scoured the internet to find the best bank CRM software for you. But how do you go about choosing one?

That’s a hard question to answer, unfortunately. While we’d love to just tell you which CRM for banks was objectively the best, there is no such software. Your individual needs dictate the requirements you should seek from a system, and every product specializes in different areas.

Finding the product that performs best in the features you’ll use the most is one of the best ways to choose software for your bank.

That being said, our research team reviewed a wide range of CRM products and determined that the following solutions performed best for industry-specific features like customer service portals and convenient customer service ticket escalation. Here are the top CRM for banks in no particular order:

Salesforce Financial Services Cloud

Salesforce Financial Services Cloud provides integrated sales, service and marketing solutions to create personalized customer experience across all departments. With its wide range of features for banking, insurance, mortgage, lending and wealth management, you can engage with customers better, keep track of financial goals and significant life events, make smarter business decisions, and deliver personalized advice to earn loyalty.

Client Overview Tab in Salesforce Financial Services Cloud. Source

Top Benefits

• Helpful Forecasts: You can track sales reps’ performance using leaderboards and get a real-time view of the entire team forecast. Make informed decisions using a lead pipeline view and credit the right amounts to sales overlays by revenue, contract values and more.
• Advanced Analytics: Retail banking customers can report loss of credit cards or place travel notifications either through a bank’s website or mobile app using intelligent, self-service Einstein Analytics bots. Relevant agents can look into complex issues at the right time with appropriate context.
• Bulk Emails: You can send a copy of an email to a group of people using list email and mass email. Create targeted email lists for events, use templates with merge fields to personalize emails, and track receipts with an auto-generated status email.
• Prompt Customer Service: Unlimited Plan users can access 24/7 technical support through phone and email. You can get answers on technical aspects through the Trailblazer community and receive self-service customer support. A blog with extensive articles, reports and podcasts, and online training resources through the Trailhead program are also available.
• Direct Calls: Make inbound and outbound calls directly from Salesforce using the Lightning Dialer. Capabilities include click-to-dial, automatic call logging, voicemail drop, note-taking during calls, call history view, missed call notifications, call monitoring, personal voicemail and more.

Primary Features

• Complete Customer View: Get a 360-degree client view, including activity history, communications, internal account discussions and social media data.
• Tracking: You can monitor deal movement and manage leads by accessing an activity timeline and industry best practice documents. Create financial goals to track client progress toward major purchases, retirement savings or other life goals.
• Collaboration: Sales reps can communicate to share insights and relevant documents. View who interacted with which client and see what information agents share.
• Marketing Tools: It helps manage outbound marketing campaigns across multiple channels like direct mail and seminars. You can monitor orders, referrals and territories efficiently.

Notable features for banks include:

• Lightning Scheduler: Relationship managers and clients can book inbound and outbound appointments, create records of attendees, and add details about their areas of expertise, location and availability. You can define branch and office locations and operating hours, create topics, design templates, and schedule appointments.
• Action Plans: Create action plans for various objects such as account, case, campaign and opportunity records. It lets you manage customer engagements with automated and compliant task orchestration. Assign items to users and calculate deadlines using start date and date offset.
• Commercial Banking App: Relationship managers and product specialists get a complete view of customers’ business and commercial accounts, identifying and growing the most profitable relationships. View services in the context of a customer’s profile with treasury management.

Limitations

• Not supported on mobile browsers.
• Multiple roles aren’t supported, causing security management and user experience challenges.

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Creatio

Designed for corporate and retail banks and financial institutions, Financial Services from Creatio is a process-driven CRM that helps manage customer interactions, opportunities and risks efficiently.

You can build profitable relationships, keep track of internal and external processes, gather relevant data for managing customer journeys and enhance the customer experience. Capabilities include front-office and contact center management, end-to-end sales processes management, multichannel marketing campaigns, and demand generation.

Dashboards in Creatio.

Highest Rated Modules According to Our Data

• Team Collaboration — 100
• Quotes, Orders and Contracts Management — 100
• Workflows and Process Automation — 97
• Leads Management — 91
• Products Management — 90

Top Benefits

• Useful Sales Forecasts: It lets you compare sales indicators across time periods with smart filtering. Evaluate the probability of meeting sales quotas and analyze sales reps’ efficiency based on how successfully they meet the target.
• Effective Email Management: You can personalize emails for various segments, use relevant templates and integrate with popular email providers. Use bulk emailing and analyze email deliveries, open rates, bounce rates and unsubscribers.
• Valuable Customer Data: This feature helps scan business cards to automatically recognize and export all card data directly into the CRM. Capture and track website behavior like the first visit, pages visited, website paths and time spent on the site and add this information to a lead’s profile.
• AI-Based Insights: You can use probability scores, recommendations for next-best actions and more, enabling sales reps to identify the most promising opportunities. Automate routine tasks, track progress and get a probability of future events.
• Enhanced Business Processes: It allows you to customize data views, design activities and set up approval rules. Use the drag-and-drop case designer to create and modify internal processes.

Primary Features

• Team Collaboration: Users can mention each other and share updates about the latest projects, deals and contacts. Stay notified on sales rep visits through geotagging, make calls and approve contracts directly from the system and create multiple user groups.
• Quotes, Orders and Contracts Management: You can create contracts manually or automatically based on orders using standard templates. Manage order generation, history and segmentation and issue invoices according to the supply schedule.
• Workflows and Process Automation: Set approval rules and seamlessly automate internal processes. Work with predefined templates for activities like calls, tasks and emails.
• Leads Management: Use AI for lead scoring and find out the probability of successful lead conversions. You can automatically distribute leads, pull contact info from LinkedIn and add leads from various sources to a centralized platform.
• Products Management: This feature helps filter products and integrate product catalogs with ERP systems to keep them up to date. Group products based on custom attributes like brand and category.

Notable features for banks include:

• Loans Processing: Set up lending processes depending on the type of loan. Track the process stage, minimize operational risks with boundary ranges and valid values, and configure a list of required documents. You can also store important customer information such as employment data, revenue, expenditures, ownership of property and more.
• Verification and Underwriting: Create a checklist of essential steps to determine the right roles and configure parallel and sequential versions of checks and actions. Queue configuration tools organize work and distribute applications to the responsible verifiers and underwriters. Managers get notified about necessary actions like application decisions and data clarification.
• Loan Pipeline Monitoring: Monitor loan pipeline performance and analyze the number, status and duration of applications at each stage. Gain insight into team performance using reports and custom dashboards.

Limitations

• It doesn’t provide out-of-the-box support for tagging attachments with metadata for internal security practices and segmentation.

Features Not Fully Supported According to Our Data

• Sales Performance Management — Supported With Custom Development
• Social Engagement — Supported With Integrations
• Customer Communication Management — Supported With Integrations
• Documents Management — Supported With Integrations
• Opportunities/Deals Management — Supported With Custom Development

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CRMNEXT

CRMNEXT is a financial services solution that caters to the needs of banks and credit unions. Easy integration with existing technology and a smooth interface help you view customer and member information in a central place. You can automate functions, simplify work, drive growth and enhance user experiences. It’s recognized by Gartner as a leading player in sales force automation, service management and lead management.

Dashboards in CRMNEXT.

Top Benefits

• Personalized Offers: Create micro customer segments and determine the best-suited product for each segment using a combination of big data, behavioral analytics, frequency scoring and personalization. You can analyze data from multiple sources with machine learning and capture offers in real-time or batch mode.
• Enhanced Performance: Define performance models for sales performance, relationship activities and service effectiveness based on multiple variables. You can set forecast projections and monitor sales pipelines to fine-tune sales processes with real-time insights.
• Targeted Marketing: Send personalized responses to specific customer inquiries using templates. Design targeted audience offers and create static or dynamic lead lists.
• Easy Integration: Combine existing campaign tools, models and marketing lists with a codeless, bi-directional integration suite. Integrate with third-party applications for e-signature, identity verifications, and with Wolters Kluwer. Aggregate data from different applications onto a single screen using Autonoma Integration Designer.
• Smooth Collaboration: Teams can collaborate seamlessly with the ability to share files, links, surveys and insights in a single window.

Primary Features

• Contact Management: Get a consolidated customer view with data captured from different sources. You can manage and store multiple contact details with ease.
• Lead Management: It lets you capture leads from multiple channels and manage end-to-end sales operations. Retain customers by personalizing, automating and executing omnichannel campaigns.
• Customer Journey Management: You can create end-to-end customer journeys and manage referral programs.
• Automation: Teams can automate the feedback process, design and create quotations using standard templates and monitor team performance.
• Analytics: Sales and marketing can analyze the competition by gathering intelligence through on-demand reports. Pinpoint issues, adjust strategies and make informed decisions in real time.

Notable features for banks include:

• Social Sales: Capture key insights to recognize social influencers and convert them into brand promoters. This feature lets you monitor brand mentions, track tweets and conversations, understand the brand sentiment, and analyze the brand presence, campaign effectiveness and customer experiences.
• Analytics: Gain access to actionable insights with multidimensional analysis, business rules and AI-based algorithmic analysis. View data with dashboards and drill-down capabilities and multiple formats. You can also check campaign performance and build ad hoc reports for campaign execution.
• Account Management: You can gain a consolidated, up-to-date account view and check statuses, balances, alerts, activities and service requests. Integrate with third-party apps to automate and streamline the opening process. Eliminate screen hopping and duplicate entries so sales reps can focus better.

Limitations

• It doesn’t provide an open API.

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Oracle CX Sales Cloud

Oracle CX Sales Cloud helps meet the essential needs of banks and other sales organizations. Productivity tools offer information and guidance to close deals quickly, and sales reps can access data on the go for increased effectiveness. Capabilities include lead management, partner relationship management, sales performance management, advanced analytics, data visualization, adaptive intelligence, customer data management and more.

Global Report Dashboard in Oracle CX Sales Cloud. Source

Highest Rated Modules According to Our Data

• Workflows and Process Automation — 100
• Dashboards and Reports — 98
• Opportunities/Deals Management — 95
• Documents Management — 91
• Products Management — 90

Top Benefits

• Effective Customer Data: The platform offers comprehensive capabilities, including data cleansing and integrated business intelligence views. Use personalization, cost management, account-based marketing campaigns and campaign segmentation, tools especially helpful for B2B and B2C businesses.
• Dynamic Dashboards: You can gain real-time insights about customers, teams and business metrics such as seasonality, recurring sales and the overlay of sales teams. Drill down for a more granular analysis.
• Insightful Reports: Visualize and track trends, use prebuilt reports and gain robust sales insights. Access key metrics that enable forecasts and use them to make informed business decisions.
• AI-Based Intelligence: The AI-enabled engine creates firmographic data points and real-time company signals by scanning over 5 million digital properties. You can leverage probability scores and automated recommendations to identify high-quality opportunities.
• Seamless Integrations: Integrate with Oracle Enterprise Resource Planning (ERP) to work with a shared customer view, information flow and other productivity tools. The system also connects with Microsoft Outlook, and users can access the CRM through Android and iOS mobile devices.

Primary Features

• Workflows and Process Automation: You can configure approval rule sets that manage how workflows are assigned and completed. Create custom business processes and manage criteria that ensure data accuracy.
• Team Collaboration: It lets you connect with individuals, managers, sales teams or groups either directly or through group conversations. Share attachments and announcements and mention team members in timelines so everyone is on the same page.
• Sales Performance Management: Gain AI-based insights, manage sales objectives and track individual and team performance. You can access past, current and future forecasts and compare them to key metrics in real time.
• Accounts and Contacts Management: This feature provides an overview of prospects, leads, activities, opportunities and assets. Create or import contacts, integrate with Microsoft Outlook and IBM Notes, and avoid data duplication.
• Partners and Vendors Management: You can manage channel programs, register deals and use custom partner portals to qualify deals. View partner performance, track progress with visual reports and determine the best partners.

Notable features for banks include:

• Oracle CPQ: This tool lets you manage the CPQ (configure, price, quote) process and create proposals. It supports various pricing models and provides deal management intelligence, dynamic workflows and quote management features. The solution integrates with CRMs, ERP systems, web services and B2B commerce apps.
• Sales Campaigns: You can reach out to contacts by creating sales campaigns, add contacts and leads to marketing campaigns, and provide feedback on effectiveness and interest. Personalize campaigns by adding images and merging fields and response forms. Capabilities include automated follow-up for specific response types, campaign scheduling, email templates and more.
• Partnership Relationship Management: Channel managers and partners can manage programs, share leads, register deals and collaborate in real time. They can streamline Market Development Funds (MDF) disbursement, recruitment management, business planning and more. It’s also possible to access training materials, qualification and conversion tools, assessment questionnaires and consolidated KPI views.

Limitations

• It doesn’t allow updating ‘Unit of Measurement’ for saved products.
• It doesn’t offer a built-in Kanban view of opportunities.
• Navigating to a sales object’s details page after selecting the sales object from a ‘Dynamic Choice List’ for mobile pages isn’t supported.
• Displaying a standard object subtab on a custom object Mobile details page isn’t supported.

Features Not Fully Supported According to Our Data

• Customer Communication Management — Not Supported
• Social Engagement — Not Supported
• Documents Management — Not Supported
• Opportunities/Deals Management — Not Supported
• Platform Capabilities — Not Supported

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Dynamics 365 for Sales

Microsoft Dynamics 365 Sales drives productivity and increases marketing effectiveness through business intelligence, campaign management and social insights. It helps organize and automate business processes, helping you nurture customer satisfaction and loyalty as well as reduce costs. Other features include apps to manage customer relationships on mobile devices and tools to integrate data and reports from social media.

Activity Social Dashboard in Dynamics 365 for Sales. Source

Highest Rated Modules According to Our Data

• Workflows and Process Automation — 94
• Team Collaboration — 93
• Sales Performance Management — 89
• Accounts and Contacts Management — 89
• Partners and Vendors Management — 87

Top Benefits

• Efficient Contact Management: Add contacts to new accounts, track prospects and create interactive charts to view client data. Sales reps can access up-to-date information in real time and use business card scanners to populate contact records automatically.
• Improved Sales Insights: You can monitor daily activities and set up reminders for inactive or expired accounts. Teams can use lead scoring to qualify leads and make informed business decisions based on accurate data.
• Enhanced Relationship Analytics: Personalize sales documents, gain survey insights and use adaptive AI to monitor changes in buyer trends. Enhanced analytics helps project sales numbers, estimate revenue and assess what’s worked in the past and what hasn’t.
• Business On The Go: It lets you access data anywhere, anytime. Configure dashboards, forms and charts, create notes and access a relationship assistant. Mobile and tablet apps support iOS, Android and Windows 10.
• AI-Powered Insights: You can track daily actions, personalize customer experiences and use a 360-degree view to gain insights. Automate workflows, discover new audience segments, and analyze historical data and open sales pipelines.

Primary Features

• Workflows and Process Automation: Send approval requests to managers to access purchase documents and payment journals. You can reuse workflow templates without having to recreate them each time. Define sales process flows with a drag-and-drop designer.
• Dashboards and Reports: You can create customizable reports for emails, calls, meetings and opportunities. Use call analytics, charts, visualizations, dashboards and deal reports to enhance sales team performance.
• Opportunities/Deals Management: Create and edit opportunities, link them to existing accounts and assign sales cycle stages. The system lets you access multiple sales pipelines and Kanban views to keep tabs on business processes.
• Documents Management: This feature helps manage different document types like Word, Excel, Onenote and Powerpoint and share them directly with other users. Generate playbook templates based on the organization’s standards and archive files when not in use.
• Products Management: You can create products with codes, prices and notes and use filters to access them when necessary. Group products into bundles and kits, maintain a product catalog and define the family hierarchy.

Notable features for banks include:

• Goals Management: This feature tracks individual, parent and child goals against target revenue. Parent goals can have one or more child goals, and the result of all child goals can roll up to the primary target parent goal. This helps you evaluate goal components at the individual and team level.
• Invoices Management: You can initiate sales with a price quote and create an invoice once shipment and delivery are done. The platform uses current pricing and locked prices on orders and invoices. It offers printing for contacts, leads, quotes or invoices, along with tracking for overall sales process and expected revenue through transaction records.
• Dashboard and Reports: Access business information and visualizations through reports, charts and prebuilt dashboards. Available in multi-stream and single-stream formats, dashboards are configurable and security-role based. You can use the Report Wizard to create, run, and edit reports with charts and tables, as well as create custom reports and share them with specific colleagues or teams.

Limitations

• Doesn’t have an email finder that allows locating, verifying and importing unknown email addresses.
• It doesn’t provide native integration with Gmail.

Features Not Fully Supported According to Our Data

• Customer Communication Management — Supported With Integrations
• Partners and Vendors Management — Supported With Integrations
• Quotes, Orders and Contracts Management — Not Supported
• Social Engagement — Not Supported
• Team Collaboration — Supported With Integrations

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Primary Benefits

A CRM is much more than just a helpdesk system for processing customer service tickets or a database for storing contact info, although it does both things too! Some key benefits you gain by using a CRM for banks are:

Improved Customer Relationships

Bank CRMs help boost customer experience, loyalty and retention. The consolidated platform helps ensure that all teams have access to up-to-date information, enabling everyone to be on the same page. Sales and marketing teams can use rich, detailed data to create personalized customer journeys.

For example, if a client asks about a specific type of loan, sales reps can make a note in the contact record about conversation details. They can send a follow-up email later with relevant information about that specific loan. This not only makes the customer feel heard but also keeps them satisfied as they don’t have to keep repeating themselves.

Enhanced Marketing Efforts

You can capture contact information from various channels like emails, social media handles, calls, texts and website visits. With all this helpful data at hand, sales and marketing teams can anticipate customer needs and tailor their future campaigns accordingly. It helps them identify bottlenecks and find areas for cross-selling and upselling.

Increased Productivity

Bank CRM software offers various communication tools that help keep everyone in the loop. It can automate repetitive, manual tasks and save sales reps’ time so they can focus on more complex, core activities. You can also avoid human errors and data duplication, as bank CRMs thoroughly organize data.

The solution acts as a one-stop shop where users can get most things done without having to switch between platforms and lose out on valuable time they could spend converting leads. With mobile apps you can access anywhere at any time, sales reps can update information on the go and keep teams up to date with their visits.

There are managerial perks as well — CRM systems streamline disparate workflows like agent calendars, customer service tickets and product upselling, combining them into a single intuitive interface. From self-service portals where customers can manage their accounts to analytics tools that suggest the next best action to representatives, CRMs aim to make your life easier and more organized.

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Next Steps

CRM for banks can drastically improve your customer interactions and experience. In the modern age, consumers expect to be catered to and taken care of. CRM helps make that goal a reality, helping you take your customer relationships to a whole new level.

To find out which of these products (or one of many others!) best fits your business, check out our free, comprehensive CRM comparison matrix. You can also discover what leading solutions cost with our free price guide.

Make your life easier, more organized and more efficient by finding the right CRM for your bank or financial institution today.

What questions do you still have about what banking CRM can do for you? Ask them in the comments!