Ensuring a seamless, enjoyable customer experience has never been so crucial for banks.

With a raft of alternatives popping up, from cryptocurrencies to borderless bank accounts to cloud-based solutions such as PayPal and Venmo, it’s unsurprising that many banks are feeling the pressure.

The difficulty is this: with so many other facets of their lives catering to their individual needs; consumers are coming to expect a more and more personal experience — something that isn’t as readily delivered by traditional financial institutions as it is by UberEats.

That’s why many banks are investing heavily in CRM (customer relationship management) platforms, with a view to provide a personalized customer journey that caters to the individual and makes each customer feel valued.

This article will examine four leading CRMs for financial services, helping you to choose the perfect platform for your company.

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What is a CRM (as it relates to the banking industry)?

Just as within any industry, CRM stands for customer relationship management.

The term is a little ambiguous, as it can refer to the process and field of customer relationship management as well as software platforms known as CRMs.

In most cases though (including the article you’re reading right now), when people mention CRM, they’re talking about the software.

CRMs are very widely used, with 91% of businesses with more than ten employees using some sort of customer management platform.

And the industry is only growing:

CRM software revenue forecast

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Why use a banking CRM?

There are a whole host of benefits that banks can reap from using a CRM, including:

  • Converting more leads into clients
  • Personalizing and improving customer experience and communication
  • Lifting staff productivity by making all client information easy to access
  • Enabling internal data cohesion and eliminating siloing (by putting all data about a client in one place)

And, with pretty much everything going mobile these days, most CRMs for banking have a mobile app as well, which can lift employee productivity by as much as 15%.

There are quite a few to choose from, though, so let’s take a look at the five leading CRMs for banking.

The 4 best CRM platforms for the banking industry

#1. monday.com

Recently voted Top CRM, monday.com is the CRM software your banking team needs to close deals faster.

Here’s a glimpse into monday.com’s highly-visual and comprehensive CRM template:

CRM template from Monday.com

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Specific benefits for banks:

Using monday.com as a banking CRM software, teams can instantly share data with other members, even sharing boards with customers where appropriate.

You can even customize your boards with your chosen column, such as the world clock module, which gives your reps an instant view of the time in your client’s location. No more phone calls at 4 am!

Here’s a breakdown of how monday.com works as an awesome CRM:

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#2: Salesforce Sales Cloud

If developing and marketing a new banking CRM were a video game, Salesforce (with nearly 20% market share), would be the level 100 player who lives in his basement and only eats Cheetos.

That analogy isn’t totally fair though, because they’re far too pretty to live in a basement.

Sales Cloud is Salesforce’s fully customizable CRM for sales, marketing, and support, catering for both B2B and B2C markets.

Here’s a snapshot of the Sales Cloud dashboard:

Sales Cloud dashboard

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Specific benefits for banks:

One of the biggest benefits of using Sales Cloud as a CRM for banking is the software’s AI-guided insights.

Using artificial intelligence, machine learning, and MLOPS services, Sales Cloud gives your sales and service reps easy access to the tools they need to make smarter customer relationship decisions.

Sales Cloud analyzes customer behavior and scores leads, prioritizes certain activities that present the best opportunities, and creates workflows for your reps to ensure a high standard of communication with your clients.

In a nutshell, the Sales Cloud AI tells your reps what to do and when to do it, based on what it thinks presents the best opportunity.

#3: SugarCRM

One of the more oddly named CRMs for banking, SugarCRM is a software platform that holds customer experience as its number one priority.

SugarCRM uses artificial intelligence and historical data from each and every customer to provide your reps with actionable insights for managing their customer relationships.

Here’s a snapshot:

Snapshot of SugarCRM dashboard

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Specific benefits for banks:

It’s one of the more affordable banking CRMs, offering similar functionality to Sales Cloud but coming in at around half the price.

Despite being relatively affordable, SugarCRM is a very powerful platform which has helped many financial organizations achieve strong growth and maintain customer retention rates that anyone would be proud of.

The platform isn’t just about customer retention, though. SugarCRM also offers a powerful marketing automation platform called Sugar Market. Using the two in conjunction, your bank has a single source of truth and integrative platform for marketing, sales, and service.

#4: Creatio

Previously known as Bpm’online, Creatio is a low code platform for both CRM and business process management (BPM).

BPM is an operations management discipline that involves modeling, analyzing, improving, optimizing, and automating business processes.

Here’s a peek at the Creatio dashboard:

Creatio dashboard

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Specific benefits for banks:

If you’re creating or modifying a business process for anyone involved in sales or service, then it’s going to have a knock-on effect for your customers. Being able to access and analyze both sets of data can give banks an upper hand in creating processes that are not only business-friendly, but also improve the customer experience.

Creatio’s robust sales automation systems and easy to use drag and drop functionality result in a combination of automation and customization. This brings BPM, a sometimes arduous and needlessly complex task, into the visual realm and makes it accessible for all levels of operations manager.

#5. Microsoft Dynamics 365

Microsoft hardly needs any introduction, though you may not be familiar with their CRM product — Microsoft Dynamics 365.

A powerful CRM for financial institutions, Microsoft Dynamics 365 is also one of the most widely used CRMs, with over 100,000 monthly users.

A glimpse at the CRM dashboard:

Microsoft Dynamics 365 CRM dashboard

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That’s because Microsoft Dynamics 365 is actually a suite of products, going one step further than traditional CRMs and incorporating a number of ERP (enterprise resource planning) products with powerful analytics.

Specific benefits for banks:

By bringing these two powerful business units together, Microsoft Dynamics 365 gives bank leaders incredibly deep data management and effective business insights for sales, service, marketing, finance, and HR. So yeah, there’s something in here for pretty much every department.

By virtue of the fact that this is a Microsoft product, you can expect it to work seamlessly with other software you may already be using (like Office).


These are five of the best CRMs you can choose for your financial institution, but they are by no means the only ones that exist.

In fact, there are probably hundreds more, with pretty much every man and his dog offering a CRM platform these days.

This can make choosing a CRM solution seem like a never-ending battle, but while ensuring you spend the time determining the right one for your customer data, don’t let yourself get bogged down to the point where you can’t make a decision.

Get started today with monday.com’s free CRM template.

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