Best finance CRM software

Does your financial services business needs CRM software?

The benefits of using CRM software for finance businesses are immense. Here are ten compelling reasons why your finance business should consider implementing a CRM platform:

1. Enhanced customer relationship management: A CRM helps you to build stronger relationships with your clients by keeping track of their interactions and preferences.

2. Improved communication: Multi-channel communication features help you connect with clients through their preferred channels.

3. Efficient analytics: An analytics dashboard provides real-time insights, enabling data-driven decision-making.

4. Streamlined operations: Workflow automation and sales sequences reduce manual tasks, saving time and resources.

5. Better collaboration: Collaboration tools ensure your staff can work together seamlessly.

6. Effective escalation management: Features like sales activity management and support for multi-currency and multi-language capabilities are crucial for global finance businesses.

7. Data security: Protect sensitive client information from data breaches and unauthorized access.

8. Increased productivity: CRM software automates routine tasks, allowing your staff to focus on more value-added activities.

9. Enhanced customer service: Deliver personalized and efficient service with all client information at your fingertips.

10. Scalability: As your finance business grows, your CRM software can adapt to your evolving needs.

How do you choose the best finance CRM software?

When selecting the best finance CRM software for your business, consider the following key factors:

Seamlessly store and manage guest information:

Look for a CRM that offers a user-friendly interface for storing and managing guest information. It should facilitate easy access and updates.

Cross-channel communication:

The best CRM should support multi-channel communication, allowing you to connect with potential guests through email, phone, and chat campaigns.

Easy-to-use analytics dashboard:

An intuitive analytics dashboard is essential for making data-driven decisions. The best finance CRM will offer real-time insights into your sales and marketing efforts.

Staff collaboration:

Collaboration tools are crucial in the finance industry. Please ensure that the CRM you choose promotes teamwork and coordination among your staff members.

Escalation management:

If your finance business operates globally, consider a CRM with features like sales activity management and support for multi-currency and multi-language capabilities.

Data security:

In the finance sector, data security is paramount. Choose a CRM that offers robust security measures to protect sensitive client information.

How much does a finance CRM software cost?

The cost of finance CRM software varies depending on the provider and the specific features you need. Typically, small business CRM solutions are available on a subscription-based pricing model. Prices can range from a few dollars per user per month for basic plans to higher costs for enterprise-level features.

As for Freshsales offers a free trial, allowing you to explore its features before committing to a paid plan. Freshsales' pricing starts at $12 per user per month for the paid plans. However, users can enjoy a forever-free plan with essential features as well.

What's in Freshsales for your finance businesses?

Get a complete view of your leads

Whether you discover your leads through field sales, telesales, direct sales, or referral, you can add your leads into the CRM in multiple ways:

• Manually adding a lead,

• Importing leads through excel sheets, or

• Creating web forms on your website.

In fact, a CRM for Finance software also allows you to convert your sales emails into leads, or add leads after making a phone call within the CRM.

Here’s more good news: When it comes to making phone calls within the CRM, you can integrate your own banking VoIP solution, or choose from a host of integrations that an ideal CRM for Finance software comes with. Whether you're using it on desktop or through a CRM mobile application, the flexibility ensures seamless communication integration for financial operations.

Once your leads get added to the CRM platform, you get a 360𝆩 view of their profile at a glance. It provides you with

• A quick summary of all the essential information such as name, company, contact information, salesperson assigned, and more. 

• Highlights covering a contact’s background information such as open deals, active marketing lists, meeting notes, etc.

• Deep dive into detailed information such as support tickets in progress, a chronological timeline of engagements you’ve had with them over email, phone, chat, etc. 

Lastly, your institution might be getting a multitude of leads across product or segment verticals. How do you ensure that not everybody across the organization has access to data that may not be relevant to them?

A CRM for Finance software enables you to create custom roles, where you can set access level controls for what data each user can access and edit within the CRM.

Learn more about Customer 360

Organize customer data with a modern view

By creating customizable views in a click, Freshsales lets you access data on one screen and perform your daily tasks faster than before.

With quick actions and easy access to customer data from one place, you can visualize where each contact stands and spot roadblocks, thus enhancing your team’s productivity and efficiency. You can track your contacts’ progress using drag-and-drop cards and group fields.

You can visualize and manage your contacts in a list, table, or Kanban view and work the way you like.

Learn more about Modern Views

Identify sales-ready leads with AI

Your agents have to secure target accounts. But how do they know if the leads they are reaching out to will convert? This is where a Finance CRM can step in.

Freshsales CRM offers AI-based contact scoring that identifies clients who are best suited for your business with the help of positive and negative scoring signals.

The CRM tags high-intent contacts as “Likely to Buy” and recommends the next best action to your agents who can further engage with them.

Learn more about lead management

Make data seamlessly available across platforms

Many financial institutions manage their transaction and repayment schedule history in an external banking software. In order to ensure that you don’t have to shift between multiple software to access and update customer data, you can simply integrate your banking software with the CRM for Finance software so that all relevant data with respect to each customer is available in the external software, and in their respective lead profiles within the CRM.

Track customer journey across touchpoints

Whether it is loans, deposits, or investments, a CRM for Finance software enables you to track your customer journey across stages, ensuring that you get a holistic view of where each customer is across the pipeline, where there are bottlenecks, if any, and what strategies need to be adopted to accelerate the sanctioning or closure.

Additionally, a CRM software enables you to create multiple deals pipelines to track customer journeys across products, across region, and so on.

Learn more about deal management

Measure how your business is performing

Analyze deals by getting an insight into various metrics such as deal stages by product, total account value, loans by source, phone calls made in a month, in a quarter, approved loans by month, quarter or year, and more.

While reports in a CRM for Finance enable you to measure your business and team performance from time to time, a dashboard enables you to compare reports such as loans sanctioned in the first quarter of the year compared to the sanctions in the same quarter the previous year, or deposits by source, compared to deposits by region, and such. You can navigate between reports to get context and track team performance. Reports can be shared automatically on a monthly or periodic basis.

Accessing reports gives you regular insight into how your business is performing and what steps must be taken to fuel its growth. 

Learn more about Analytics 2.0

Enhance cross-sell and upsell opportunities.

Let’s say you’ve onboarded a new customer with a savings bank account. After a certain period, based on their transaction patterns and activity history, you might find them eligible for a personal loan, a credit card, or more. Your relationship manager or contact center representative who can’t really keep track of each customer across periods. Instead, you can simply set up a workflow to send an automated email to a customer pitching a product from your suite after a certain period. Using workflow templates, you can enable a workflow by clicking a button or editing an existing template to add more conditions and make it live.

Alternatively, you can even set up a reminder for your relationship manager or contact center representative to follow up with a customer on a cross-sell or upsell opportunity after a certain period. This ensures that you maximize your opportunity to cross-sell or upsell while communicating contextually.

Learn more about workflows

Nurture your customers

A good CRM for Finance software enables you to reach out to hundreds of customers with customized, personalized campaigns and emails, which can be your gateway to establishing a good rapport with them, and even creating loyalty towards your brand.

Be it to wish them for their birthdays or anniversaries or to send them relevant product or service emails; personalizing can go a long way in making your customers feel that you care about their interests and needs rather than just focusing on selling your product to reach your targets.

Learn more about Email Sequences

Ensure quick turnarounds

Like we said earlier, creating a great customer experience is about sustaining that quality across touchpoints within your company. Customers come back with multiple queries and requests – they need a new credit card, they need to generate a new PIN, they want to check on an unusual transaction, and so on. In such circumstances, integrating your CRM for Finance software with a support software will not only ensure that you have context about the customer’s past interactions with your company to make your response more relevant but also ensure that you can prioritize customer issues and address them more efficiently.