The Role of Effective Customer Relationship Management (CRM) in the Customer Lifetime Value (CLV) of Banking and Financial Institutions
Introduction to Customer Relationship Management (CRM) and Customer Lifetime Value (CLV) Customer Lifetime Value (CLV) is a prediction of all the value a business will derive from the entire relationship with your customers. In a term, CLV is a metric that demonstrates how the customers have a relationship with business value over time. CLV indicates […]
Cubic Information Systems and Microsoft Dynamics 365 for BFSI
Introduction to Cubic Information Systems as a Microsoft Business Applications Partner Cubic Information Systems is a distinguished Microsoft Business Applications Partner with extensive experience in integrating technologies from various solution providers, including Microsoft. With a robust background spanning approximately 30 years in .NET, mobile, web, and cloud development, Cubic excels in delivering comprehensive software solutions. […]
Digital Transformation of Conventional Banking Industry
Introduction to Digital Transformation in Banking Recently, innovations related to digital transformation technologies include the ability to focus and refine recommendations, current and future customer behavior analysis and trends, improved products and services, and insightful smarter analytics, which have become ‘disruptive’ features of daily business operations. Advanced digital transformation technologies have become disruptive in various […]
The Role of CRM Applications in Customer Acquisitions for Consumer Finance, Microfinance, and Fintech Providers
Introduction to CRM Applications in Financial Services Recognizing the client’s needs and preferences and doing something to address them are crucial tasks in a for-profit business. Accordingly, a user-oriented approach, which pays a great deal of attention to the clients’ needs, the way clients would like to obtain services, how to keep and increase clients’ […]
Digital Only Banks and the Importance of Customer Voice
Introduction to Digital Only Banks Singapore became the first country to issue a Digital Banking license to virtual banks in 1999, and it was granted to 3 players. In November 2022, the doors opened with the first three Internet banks. Back in 2014, the Monetary Authority of Singapore (MAS) continued its noble effort in shaping […]
The Importance of Customer Voice in the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to the BFSI Sector In the present worldwide aggressive business, the fight for retaining consumers is fierce among the active entrants as well as the contemporary competitors. Companies, particularly those in the BFSI sector, are going out of their way to make sure that they maintain and continue their track record on client line […]
Enhancing User Loyalty Through Intuitive Complaints Management in the BFSI Sector
Introduction to User Loyalty and Complaints Management in BFSI Indeed, despite seeking to manage customer relationships, the industry in general does not possess a particularly good reputation for solving these complaints. Currently, many of the traditional providers are on a downhill track, characterized by gradually declining market shares, and mutual trust with the customer is […]
The Significance of ERP Solutions in the Banking, Financial Services, and Insurance (BFSI) Sector
Introduction to ERP Solutions in the BFSI Sector ERP encompasses almost the entire organization and all of the business functions. The software that implements the business functionality is separated into configurations or modules. In many ERPs, famous modules are CRM, HCM, Financials, SCM, and Logistics. It often includes cost-effective transaction processing that facilitates financial reporting, […]
The Benefits of Paperless Teller Operations in Banking Branches
Introduction to Paperless Teller Operations End users are ready to adopt new technology in the teller station. The ATM is a good example of this. Teller automation has lagged behind. If designed properly, paperless teller operations can automate high-value teller transactions. This reduction in time required to conduct transactions will permit tellers to introduce other […]
The Benefits of Implementing an Effective Branch Customer Visit Management for the BFSI
Introduction to Branch Customer Visit Management These visits, however, have to be with the prior appointment. The waiting time if customers are not provided with a prior appointment could be with great discomfort. You may lose some of your existing customers as well as a lot of potential ones. The basic objective of any business […]