How CRM Can Help Banks Expand Customer Relationships

Ryan Plourde
| 12/5/2019
Expand Relationships

Banks and credit unions typically put a lot of effort into acquiring new customers. Yet it’s equally important to work with existing customers to reach for a larger share of their financial business – from checking and retirement accounts to products and services such as investments, insurance, mortgages, and home equity loans.

According to a J.D. Powers study,1 “Banks that are able to increase their share of deposits by 2 percentage points stand to gain $40.7 million in deposits per 100,000 customers.”

How can banks build customer loyalty and expand the relationships? During each customer interaction, representatives need to be flexible, thorough, and willing to spend as much time as needed to consider customer needs, recommend suitable products, explain the details, and respond to questions.

Benefits of an effective CRM system

A well-designed CRM system, such as the combination of the Microsoft Dynamics™ 365 solution and Crowe CRM for Banking, should enable employees to:

  • Access complete customer profiles. Employees should be able to see, at a glance, which services a customer is using as well as other key information about the customer’s relationship with the bank.
  • Review account history. Which accounts are active? Have any been closed? Has the customer refinanced or paid off a mortgage? Have employees discussed other products with the customer? Have employees suggested future interactions?
  • Make personal connections and offer relevant services. Does the customer have college age children? Has beneficiary information changed due to a significant event such as marriage, birth, divorce, or death? Employees can ask these questions and save the answers in the CRM system so that other team members who interact with the customer can respond accordingly.
  • Track key milestones. At the age of 59-1/2, for example, customers can begin withdrawing from their traditional IRA. At 70-1/2, they must begin withdrawing from that IRA. Alerts for these types of pivotal dates can enable employees to offer appropriate investment services.

Crowe CRM for Banking

Crowe works with more than 1,800 financial services organizations across the country, including about two-thirds of the top 100 U.S. banks. Crowe CRM for Banking, an add-on solution powered by Dynamics 365, provides a 360-degree view of customer data as well as associated communications, interactions, operations, relationships, and service records.

Crowe CRM for Banking enables organizations to integrate sales, marketing, and service functions so relationship managers and service staff can access and share complete information across departments, product lines, channels, or intermediaries.

By using the many tools included in Crowe CRM for Banking and Dynamics 365, banks and credit unions can increase customer satisfaction, improve productivity, and expand customer relationships.

Visit for more information about Crowe CRM services for Microsoft Dynamics 365 software. Have a question or interested in evaluating the CRM functionality in Dynamics 365? Contact us today.

1 J.D. Power Insights, “Deepening Share of Wallet Among Retail Banking Customers,” published by J.D. Power and Associates, © 2013 J.D. Power and Associates, McGraw Hill Financial. All rights reserved.

Microsoft and Microsoft Dynamics are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries.

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Ryan Plourde
Ryan Plourde
Principal, Microsoft CRM Leader