Customer Relationship Management (CRM) software automates the relationship management process for companies, thereby boosting sales and reducing expenses. For the banking sector, good CRM software assists the relationship managers, sales and marketing team, consultants, in-house financial advisors, and upper management to better understand their customers along with all the benefits of regular CRM software. Here are five features you must integrate when developing a banking CRM software.

5 Top Features of Banking CRM Software to Consider

1. Interaction Tracking 

Customers who move through the banking sale funnel interact with multiple representatives at different levels. And repeatedly asking for personal information and past details at each level can become cumbersome. Therefore, it is essential to have an interaction tracking feature in your banking CRM software. This features tracks all the interactions and saves them in a single profile. The profiles can keep notes made by previous representatives and reflect specific customer requests. The interaction tracking feature allows bank representatives to add a personal touch during conversations with the customer.

This feature is also helpful for your existing customers. The customer service representative can suggest upgrading their credit cards, opening a Demat account, interest payment reminders, and even offering personal loans based on the past interactions of the customer. Interaction tracking should be one of the core features of your CRM software if your goal is to increase customer retention in the coming years. 

2. Email Integration 

Email integration is one of the crucial features that every banking CRM software must have. Apart from direct phone calls, email is the primary communication between the bank and the customer. Hence, it is necessary to maintain a hygienic email list that is integrated with the banking system. After the successful integration, the emails should be automated to save resources and free-up personnel. The system should automatically send update emails every time the customer makes a transaction, including opening and closing accounts. Customers’ email IDs should be updated in all their different accounts in the bank.

Email integration works well with interaction tracking features. Any time a customer registers a complaint or submits an inquiry via email, it should get registered in the system to make it easier to track their inquiries. Email integration also relies on contact management, another secondary CRM feature. Contact management helps the bank store all the customer’s contact details in a single place to enable omnichannel marketing.

3. Document Management 

Nothing is more frustrating than uploading and keeping track of all the documents, identity proofs, affidavits, etc. Customers and customer representatives both dislike the process equally. A document management feature is a life-saver in such cases. It creates a central location where all the documents are saved and easily accessed by all the parties involved. If you have a CRM app, adding a phone camera scanner feature will help the representatives scan and upload the documents without juggling multiple apps. 

Customers do not have to worry about any information breach as the centralized depositories are encrypted and highly secure. The hub creates separate profiles for individual customers while saving their documents. As a result, they do not have to worry about any mix-ups. Document management truly comes in handy when there is a large team involved. Cloud-based document management systems are even better as the documents can be accessed anywhere, allowing for smoother inter-branch operations. 

4. Reporting and Analytics 

This is one of the most valuable features you can add to your CRM software. Usually, the developers create an interactive dashboard where the user can generate numerous reports and analyze them. These dashboards offer a complete view of all the important numeric information about the customer. The relationship managers can create charts, graphs, and tables to better understand the data. Reporting features also have a highlighting feature that helps the manager find discrepancies and report them to the relevant authorities. 

Sometimes, the management has to make quick decisions based on recent findings. However, incomplete reports and datasets can hamper the process during such times. On-demand reporting feature solves the issue. Managers can retrieve updated reports without any delays and make impactful decisions. Lastly, mobile reporting helps the managers access the requisite information on the go. However, this is optional and can be skipped if you do not have an app for your CRM banking software. 

5. 360-degree Customer View

This feature can only be used with advanced CRM software. The 360-degree view is a dashboard that displays all the customer financial data. The managers can get a holistic view of their customer’s financial data. The in-house financial advisors can utilize the income level, investments, and expenditure to offer customers highly personalized and prudent advice. The advisors can also smoothly guide the customers through any troubles. 

The sales and the marketing team also get access to these dashboards to get a better understanding of their customer’s preferences. Accordingly, they can set their marketing campaigns and targeted ads. The consultants can use such a dashboard to find better customer retention strategies. 


Having effective banking CRM software is not beneficial to the productivity and efficiency of the employee but also enhances the overall customer experience. With the right technology, you can automate mundane tasks and assign more important responsibilities to your employees. Initially, it might seem expensive to establish the system. But, the long-term ROI makes this an attractive addition to your existing banking systems.