Financial Services CRM

Financial services CRM functions much like a multipurpose customer relationship management (CRM) solution that manages and builds relationships through automated workflows, contact and account databases, and organizational tools. It provides a centralized base from where all customer-focused activities are performed.

Financial institutions can vary greatly, from traditional and investment banks to hedge funds and insurance agencies, but they all share a common objective: to create, build, and strengthen customer relationships. Financial CRM software can help by following customers from first contact through ongoing account maintenance, ensuring that client needs are taken care of for improved customer satisfaction. A financial services CRM solution aims to maximize customer satisfaction and revenue, ensure compliance with stringent industry restrictions and regulations, and bring unrelated tools into a centralized system.

Common features of a financial services CRM

Systems vary between vendors in terms of pricing, deployment options, and scale. However, it is important to look for the following features in your financial services CRM:

  • Contact databases
  • Sales pipeline
  • Lead and opportunity management
  • Workflow customization
  • Customer price quoting
  • Integrated billing
  • Calendars and scheduling
  • Automated alerts and notifications
  • Relationship modeling
  • Financial account management

Benefits of financial services CRM

Financial services CRM benefits businesses in a number of ways.

Lead nurturing and quick conversion

A good financial services CRM tool offers visibility of every stage of the sales journey. It reminds users when they should contact customers, tracks and nurtures leads, and facilitates collaboration with colleagues.

Improved customer experience

Even if a business has a small range of products, what s more important is that the team has the ability to solve problems quickly and answer questions from customers sufficiently without referring them to another department. With a financial services CRM tool, the team is equipped to answer all questions quickly without difficulty.

Webopedia Staff
Since 1995, more than 100 tech experts and researchers have kept Webopedia’s definitions, articles, and study guides up to date. For more information on current editorial staff, please visit our About page.

Top Articles

The Complete List of 1500+ Common Text Abbreviations & Acronyms

From A3 to ZZZ we list 1,559 SMS, online chat, and text abbreviations to help you translate and understand today's texting lingo. Includes Top...

Windows Operating System History & Versions

The Windows operating system (Windows OS) refers to a family of operating systems developed by Microsoft Corporation. We look at the history of Windows...

How to Create a Website Shortcut on Your Desktop

Website Shortcut on Your Desktop reviewed by Web Webster   This Webopedia guide will show you how to create a website shortcut on your desktop using...

Generations of Computers (1st to 5th)

Reviewed by Web Webster Learn about each of the 5 generations of computers and major technology developments that have led to the computing devices that...


Blockchain is one of the core technologies behind cryptocurrency. Blockchain is a system...

Cached Data

Cached data is designed to improve the user experience when browsing the internet...

CCTV (Closed-Circuit Television)

A CCTV or closed-circuit television is a system of interconnected cameras that capture...