A CRM (Customer Relationship Management) is essential in the financial industry for several fundamental reasons that I am going to list. Firstly, it is a highly competitive sector where customer retention and satisfaction are key to success. A CRM allows financial institutions to manage and optimize their customer relationships, resulting in greater loyalty and stronger retention.
However, it is not enough to have a conventional CRM and if you are one of the
Industry you have already realized it in the worst way. The financial industry handles vast amounts of data, both structured and unstructured. This is where the importance of basing CRM on a Data Lake comes into play. A Data Lake is a data repository that allows information to be stored in its raw form, which facilitates access to unstructured data, such as emails, call logs, legal documents, among others. This is vital in a financial environment, where much of the crucial information is not found in traditional databases.
Finally, the CRM must be able to analyze all this data to define the best actions based on customer behavior. This is where the aforementioned statistical data comes into play. Segmenting conversations into percentages of commercial, administrative, risk and compliance, and service provides valuable information to personalize customer interactions.
For example, if we know that a customer has a high percentage of service-related conversations, we can focus on improving their experience and offering them products or services that align with their needs. Instead, if a customer displays high risk in their conversations, we can take proactive steps to mitigate that risk and strengthen the relationship.
Without a doubt, a #CRM based on a Data Lake like that of N5 Now and capable of analyzing structured and unstructured data is essential in the financial industry to improve customer retention, satisfaction and strategic decision making. The combination of technology and statistical data allows us to provide a more personalized and efficient service, which translates into a key competitive differentiator in this highly demanding sector.