Banking
Commercial banks face many new challenges in today's volatile economy, including increased competition and higher exposure to credit risk. In response, commercial banks are seeking new ways to drive revenue growth, increase customer profitability and limit credit losses. At the same time, revenue and cost-cutting pressures force banks to do this with fewer relationship managers and product specialists.
Industry consolidation also poses added challenges to the commercial banking industry. Newly acquired divisions continue to rely on legacy customer information systems and processes, both manual and electronic. These inherited systems make it difficult to achieve a complete view of the customer across divisions. This creates silos of disjointed information, adding to the challenge of effectively managing the overall customer relationship.
To solve these problems, commercial banks are focused on the following strategic initiatives:
- Cross-sell non-interest, fee-based products
- Increase the quality of their credit portfolios
- Coordinate limited sales and product resources
- Provide fast, efficient and superior customer service
- Improve banker productivity
Benefits of Saratoga CRM™:
Saratoga CRM provides solution sets to help banks achieve these strategic initiatives in all aspects of commercial banking, including commercial and wholesale lending, cash and treasury management and small business banking.
- Profitability-Driven Account Planning - Enables commercial banks to better understand the overall needs of their customers and drive customer profitability. Key components include profitability-based customer segmentation and integrated alignment and performance management to allow commercial banks to coordinate their efforts and drive cross-selling of non-interest, fee based products to the appropriate customers.
- End-to-End Credit Management - Enables the efficient and consistent processing of commercial loans. Key components include consistent credit request processing and streamlined account origination which helps increase the quality of credit portfolios. Compliance with regulatory procedures (such as Regulation B loan notification requirements) is built into the workflow of the solution set.
- Relationship-Driven Sales - Includes components such as intelligent client coverage and enterprise call reporting that help commercial banks better coordinate limited sales and product resources to drive revenue growth.
- Customer-centric Service - Allows commercial banks to increase customer satisfaction and retention. Components such as value-added personalized service and proactive outbound service enable organizations to provide fast, efficient, and superior service to their customers.
- Banker Productivity - Includes streamlined proposal and credit document generation. Efficient product installation improves banker productivity by automating time-consuming manual tasks.
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