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Financial Industry Looks to New CRM Technologies

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The financial services industry takes a cautious look at social CRM channels.

Financial service firms are embracing new customer-facing tools. According to this report on TechTarget, the financial services industry has moved into online banking and web forms for submitting applications, to taking a cautious look at social CRM channels, like blogs and forums.

"While things like Facebook, Twitter, member forums and chat may be new venues for traditionally conservative businesses like banks and insurance firms, it is one that customers clearly seem to want.

"A survey of corporate banking customers by Finextra and Pegasystems this year found that 57% of respondents were willing to pay higher fees for an automated website that would allow them to access and manage all of their accounts.

"The survey also found that 62% of corporate customers would consider moving to a different bank to get better customer service. For both corporate and consumer bank customers, fast answers to problems and the ability to take care of issues quickly and effectively are all important, even ranking above cost for many customers."

Read the Full Story at TechTarget

This article was originally published on November 22, 2010
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