Multichannel and customer-centric marketing and CRM needs in the financial industry


In this post-recession period, the financial industry landscape is changing. While many financial institutions had moved towards electronic banking, there now is a clear desire to offer an even broader multichannel banking proposition to customers, often bringing the local branches with their direct contact back possibilities in the mix.

One of the challenges for the financial industry is further building out the channels via which customers and prospects can interact and handle their transactions, while gaining a single view on the customer. Interactive CRM is a key component for financial institutions in a continuous exercise to optimize customer satisfaction, acquire new customers, build trust and provide an excellent and very personal level of service.

The financial industry business and marketing challenges

With their often broad ranges of financial services and partners, and a go-to-market model that is mostly a combination of online and offline, integration is a challenge. On top of that, emerging channels, with mobile clearly taking the lead, are being integrated into the multichannel banking mix as well. The leitmotiv behind this: “offer excellent service and propose the right solutions to the customer and prospect, anywhere and anytime”.

The marketing, sales and communication challenges of banks, closely reassemble their transaction challenges, namely a multichannel and cross-channel customer-centric strategy.

A summary of the main marketing needs of financial institutions:

  • Incorporating new media and channels while guaranteeing a high level of security.
  • Expanding into new markets and acquiring new customers.
  • Increasing customer satisfaction for retention and cross- and up-selling purposes to maximize the profitability of each relationship.
  • Gaining a single view on the customer and each interaction, regardless of channel, time or place.
  • Personalizing communication to increase relevance and results in a multichannel, increasingly digital, interaction and communication reality.
  • Offering interaction, transaction and simulation possibilities that are available 24/24 7/7 in a world where people are more in control.

Changing consumer and media behavior is influencing the financial industry as well. This leads to struggles that have to be answered also.

Struggles for financial institutions:

  • Being able to match compelling offers to the right customers or prospects at the right time and on the right place.
  • Identifying opportunities and improving profitability of customers in a fragmented information, buying and interaction channel landscape where people call the shots.
  • Building a consistent and consolidated view of each customer whereby transaction and communication channels are defined by customer interactions and scenarios and CRM plays a central role.

In order to optimize revenue per customer, improve conversion and acquire new customers, build multichannel banking and interaction flows and provide a consistent user experience through a single customer view, a closed loop of interactions, transactions, data, CRM and personalized scenarios is a must.

Selligent Interactive Marketing and Selligent's interactive CRM helps financial institutions respond to all these challenges and implement a  closed-loop process based on customer behaviors and event-driven alerts. The CRM component allows them to have a single view and provide a consistent cross-channel experience and customer service excellence.

Learn more about our interactive CRM and conversion marketing solutions here.

Contact us for a demo or read the BNP Paribas Fortis customer case.


Case Study: How Selligent helps BNP Paribas Fortis improve customer satisfaction

BNP Paribas Fortis Selligent financial industry case studyBNP Paribas Fortis is Belgium’s largest bank and the result of the acquisition of Fortis bank by BNP Paribas Group, the largest company in financial asset management worldwide. The activity is focused on three client segments: retail clients, companies and entrepreneurs, and private banking. Gunter Uytterhoeven, Director of Multichannel Banking, and Eva Borms, CRM Manager, explain how the bank manages a clear client-oriented strategy and the role Selligent plays as an ally to put the customer first across all activities and channels.

Read the full case study