Customers: The real “core” of your business


“Sales 101, know your customer,” I overheard a colleague repeat several times at a recent training event.

As cliché as it may sound, knowing your customer is the single most important thing for today’s financial institutions.

Technology is changing consumer expectations. Today, your customers expect the most up-to-date information, anywhere – whether it’s for their personal, professional or financial lives. This, along with an increase in non-traditional banking options, has put consumers in the driving seat to force change in financial organizations. To stay relevant – and increase loyalty – banks need to focus on meeting these increasing customer needs.

Be customer conscious
Technology such as enterprise content management (ECM) supports today’s crucial customer-centric banking strategies. With electronic documents and information saved in a secure, central system, employees are able to access customer information and documents directly through their core banking system or line-of-business interfaces without having to switch screens or applications. That means they can answer customer inquiries with a simple mouse-click.

It also means they’re focusing on customers, not looking for information.

Providing fast, accurate answers when a customer needs help is vital. It’s the “core” of your business. This is not only a great time to make a lasting impact on your customers, but also capture sales information, generate leads, make offers or create new sales.

However, without an infrastructure designed to support this strategy, accomplishing any of these tasks is virtually impossible—not to mention expensive. With numerous information repositories within every single institution, it’s no wonder it can be a time-intensive and costly task to answer customer questions.

That’s why ECM is so important. It centralizes your information, so customer service representatives have one place to look for the answers they need.

Utilize 360-degree insights
Banks use diverse products and services to stand out from the crowd and attract new customers. But how can they continue to differentiate themselves once they have customers in the door? Obtaining and leveraging a 360-degree customer view is the key to forming deeper relationships and increasing revenue.

Information silos hinder the attainment of this highly valued holistic customer view. Many bank employees are required to switch between multiple systems to get information about their customers – from deposit accounts, loans, brokerage accounts, online banking and more. Meanwhile, branches that cannot collaborate and instantly share information create a disjointed customer experience.

Making customers wait while you figure things out is not the experience you want to be known for, right? Meanwhile, your bank is missing out on additional sales.

With ECM, you have the ability to track every interaction with customers as well as integrate with core banking systems, CRMs and other crucial LOB systems. By providing a secure, organized way to access entire customer profiles from a single interface, your bank is able to collect and generate large amounts of documentation in order to ensure you’re providing the best possible services to customers.

These enhanced customer experiences translate to additional revenue. By utilizing ECM, you gain a single point of access for all business-critical documents and connect all the documentation, information and data that is relevant to managing a customer relationship. This gives you a continuous 360-degree view of your client, helping you grow the customer relationship – ultimately driving new business, products and services.

Superior service and longevity: That’s the real core.

Michelle has expertise in the financial services industry and has been a contributor to the Hyland blog.
Michelle Harbinak Shapiro

Michelle Harbinak Shapiro

Michelle has expertise in the financial services industry and has been a contributor to the Hyland blog.

... read more about: Michelle Harbinak Shapiro