What Does CRM Stand for in Finance?

As soon as we bring the term ‘finance’ into the frame, the backdrop depicts professionalism, trust, and credibility at its best. Any business in financial services relies on the pillars of integrity and customer trust. There exists a very delicate and yet, an integral relationship between financial service providers and clients. All of these factors make up for the need and significance of digital transformation in the financial services industry. That’s when a CRM is launched into the picture.

Similar to any other industry, CRM stands for Customer Relationship Management in finance as well. Owing to its extreme necessity in the financial services industry and the huge potential in CRM, it becomes a dire need for digital transformation in banking and other financial establishments.

Benefits of CRM in Finance


Having a CRM for financial services can streamline the entire customer journey and make it a hassle-free experience for them. Right from the first contact and client portfolio analysis, to the final solution approval, your relationships with agents, brokers, and policyholders come at a single junction that can easily be accessed by multiple teams.

  • The basic use case for any CRM is storing customer data. You can manage an extensive customer database along with the essential documents that might be relevant to each of the clients. With data tracking options, you can keep track of debts, loans, transactions, and all other aspects of your contacts and clients.
  • Your existing customers are 50% more likely to try and 31% more likely to spend on new products than your new prospects. This calls for a strategic sales process and efficient coordination within your own sales teams. A CRM helps you maintain just that. You can ensure better team collaboration and higher productivity with your own CRM solution.

  • Apart from boosting sales, you can ensure incredible customer experience for better lead conversion and customer retention rates. Personalizing a digital borrowing journey with the help of your CRM can add great value to your client relationships. You can even integrate your CRM with other capabilities, such as sending money Thus improving client experience and revitalizing your marketing and sales management.
  • Finally, ensuring trust and customer confidence can help you retain most of your loyal customers. A CRM enables you to automate marketing and sales activities, thus maintaining a consistent and continuous relationship with your clients.
  • For your financial services CRM, the security of data and client information hold a pivotal role in the entire system. Thus, having a trusted CRM provider becomes inevitable. But with Planet Crust’s open-source CRM, ensuring secure financial services becomes a cakewalk.

Free CRM for Financial Services


With Planet Crust’s CRM, you get to avail double benefits of managing your financial services – Customer Identity & Access Management and Customer Relationship Management. With the technological edge provided by CRM, you can empower your teams and serve your customers with intelligent solutions and dedicated applications. Unveil the advantages of automated workflows and powerful dashboards, and help your team bridge the chasm between you and your customers.

Try Planet Crust’s CRM for financial services solutions today!

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