Embracing a CRM Initiative in Banking, Financial Services, and Insurance (BFSI)
Customer relationship management (CRM) is one of the most important phrases in the banking, financial services, and insurance (BFSI) industry - or at least it should be.
In today's financial world CRM should be linked with the following mission: "Gain a competitive advantage by identifying, attracting, and retaining profitable clients."
Financial institutions today are facing the same challenge today as 15 years ago. Management is still trying to figure out "how do we obtain a complete picture (a 360-degree view) of our customers that is consistent throughout all contact points of the company?"
Why is this challenge always a top priority for the BFSI industry? The answer is that it leads to a better bottom line.