CRM for financial services: Top five headlines

By Christine Cignoli, Assistant Editor 04 Apr 2007 | SearchCRM.com

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As CRM software continues to evolve and becomes more sophisticated and flexible, the financial services market is becoming a key industry vertical for software vendors. We've gathered our most popular headlines on CRM for financial services, including stories about a "customer equity" movement at Wachovia, software vendors turning toward financial services and building customer loyalty in banks. Browse these top stories to learn more about the financial services industry and how CRM software and concepts fit in.

Top CRM for financial services headlines

1. CRM: Financial services firms take a fresh look: Consolidation in the financial services industry and stringent regulations are driving institutions to improve processes with CRM. Analysts don't expect that to change anytime soon.

2. Customer equity, not customer satisfaction the focus at Wachovia: Wachovia, the nation's fourth-largest bank, has extended its focus on customer satisfaction and customer loyalty to lifetime value, hoping to capitalize over the long term.

3. Banks trading fees for loyalty: Some banks are doing away with profitable fee structures in order to foster customer loyalty by adjusting them based on customer value.

4. Salesforce.com makes financial services push: With a new wealth management edition and a 25,000-seat deal at Merrill Lynch, Salesforce.com is committing to financial services, one of CRM's biggest verticals.

5. Union Bank navigates employee self service: Union Bank of Vermont had to document all internal IT processes. With the Alloy Navigator CRM product, the bank's IT director found a Web portal that improves tracking of IT issues and a knowledge-management system that allows help desk agents to solve problems.