Customer relationship management, the pioneering backbone of managing the operational and user-centric aspects of the fintech industry, manages to keep everything in line. The CRM regulates all aspects of overall workflow, customer interactions, and employee graphs, from essential to advanced. To strengthen the case for CRM, the figures by Statista anticipated that the CRM market will reach around $2.24 billion by 2028, including the numbers of the fintech industry.

Since these figures augment with time, so does the fitting demand, restructuring the industry. The outlook may be the same for different banks and finance-centric firms, but the feature requirements can differ from bank to bank. Some might necessitate a 360-customer view of their transaction, while others might need analytics and decision-making. Even though the agenda remains diverse, it is still preferable for businesses to include the must-have features that can attune their revenue streams.

We understand the elaborated need for a list of features required for Fintech CRM development, and we present that to you here. Often, wise decisions are rooted in in-depth research, and here we are, bringing the necessary for you that can assist you.

Must-Have Features for FinTech CRM Development

We are bringing down the narrative to the must-have features as we enlist the ones attaining significant importance during Fintech development services. These features are basic and advanced ones that combine to simplify the comprehensive banking and finance firm’s processing. To begin with the user-centric and workflow-focused features, let us go for in-depth elaboration.

1. 360-Degree View of Bank Customers

Keeping track of the users and customers can be impossible manually, but the 360-degree view represents the banks and finance firms with an overall understanding. It brings individual and business customer profiles to the banks containing personal or company-related data. The profiles do not limit the visibility to bare minimum data but also present the latest interactions, products, and services purchased from the bank and ensure interlinking if the client has both personal and professional accounts. This feature enables banking and finance firms to make data-driven, user-centric decisions.

2. Lead Management

Including a lead management system is among the features that positively impact the revenue generation process. Banks and insurance firms often integrate the lead management system to capture leads across communication channels, qualify them, automate and distribute them among sales reps, and more. The endless functionalities of these features make it an investment-worthy integration while providing businesses and banks with lead analysis and conversion probability.

3. Marketing Campaign Management

Marketing campaign management can boost a banking or finance business as it assists professionals in efficiently targeting the audience. With FinTech CRM development, finance businesses, and banks can feasibly build personalized marketing campaigns for a specific audience, assess the prospect’s reaction, and comprehend user behavior. This way, the audience is easily determined, targeted, and converted into a potential lead, directing the banks to increased revenues.

4. Case Management and Customer Self Service

If received with an issue or case, banks often delay responding due to manual processing. However, case management and customer self-services have changed the conventional functioning. For instance, the platform creates the case, automatically assigns it to the agent, ensures case escalation, offers the agent the bank’s support policies, and brings forth suggestions to resolve it just in time. This way, the customer support system remains the priority for the banks and can retain them.

5. Security and Compliance

Security and compliance become an imperative segment when dealing with users’ transaction-centric data. The finance and banking industry dealing with immense data must comply with data privacy regulations like GLBA and GDPR, also the ones fitting the location-based regulations. The FinTech development services by experts ensure that these compliance are adhered to while building your CRM with the assistance of role-based access control. This feature keeps the user information private to authoritative personnel and keeps no one apart from them. These also provide the user activity logs to safeguard them from potential threats to their profiles.

6. Analytics and Reporting

Analytics and reporting are among the distinguished features that resonate with the comprehensive functioning of the bank or finance firm with data. The dashboard provides decision-makers with data on employees, customers, insurance plans, banking services, performance, and many other factors. These factors ultimately assist the banks in making data-driven decisions while representing sales forecasting, performance analytics, and customer sentiment analysis.

Conclusion

Winding up the must-have feature list with the six imperative functionalities that pose as a primary revenue generation driver. The better the CRM is inflicted with advanced features, the better the overall efficiency of the function with enhanced revenue streams. As decision-makers, you must assess the data and head in the direction that implies profitable and tangible outcomes. With FinTech CRM development, banks and finance businesses can restructure their workflow and modernize the customer experience.