Providers from the financial services sector, whether in retail banking or in the insurance industry, are generally active in the B2C area. Sales face individuals, but unlike in the FMCG (fast moving consumer goods) sector, for example, banks and insurers are usually interested in realizing long contractual relationships and fully exploiting potential customer lifetime value – with many thousands of customers.
Integrate all marketing and sales systems in the financial industry
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Efficient sales due to clean and complete data
Since offers in the financial services sector are very comparable, “soft” factors such as the quality of advice and response times are often key. To achieve this, all customer information must be available promptly in all systems for all parties involved. This enables your sales department to react quickly and efficiently. For example, about 50% of sales go to the provider who responds first.
Clean and integrated data for more potential exploitation
Customer relationships in the financial industry hold great potential for follow-up business such as repeat purchases, cross/up-selling and services. This potential can only be used if information about all activities is available transparently and processes are controlled across all systems. This is also the basis for data analytics, which you can integrate into your processes.
Rely on a high-performance integration platform
In the financial sector, large volumes of prospects and customers are managed. The integration solution must be able to synchronize these data volumes with high performance. This results in specific requirements for system integration and process automation. Since in the B2C business of banks and insurance companies the potential number of customers is in principle unlimited, there is an increased need in sales to segment customers optimally and to gain valuable information and insights about these customer segments. However, customer data is usually distributed across many systems. A flexible and high-performance integration solution can be used to bring together customer data – for a consistent view of the customer.
Easily meet all compliance requirements
When advising customers, strict legal requirements must be met and, in particular, documentation obligations must be fulfilled. Information on this must be securely logged, managed and synchronized with the relevant systems. For example, sales staff must always have access to the most up-to-date information on the status of consultations. This is only possible with uncompromisingly integrated systems. Systems in the financial industry also have to meet certain security requirements – and this also applies to our platform. Since we have already successfully implemented many projects in the financial services sector, we have successfully mastered the corresponding tests in the context of security and GDPR.
Creating an optimal customer journey due to integrated systems
Such information collection and evaluation should be carried out across all possible channels. Even the initial research of a prospect on the online presence must be taken into account and the appropriate nurturing selected in order to finally qualify the lead for the personal sales representative. An enterprise data platform offers all the possibilities to evaluate the touchpoints and integrate third-party data analytics and machine learning models for process control. In this way, cross-selling and upselling potentials can also be calculated for each customer. Our platform with clean and complete data from all integrated systems provides the basis for this.
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