Top 6 Banking CRM Systems, Reviews & Prices

By Rob Binns | Senior Writer

The banking and financial services industries are some of the biggest and in some cases most successful users of CRM systems.

If you are interested in banking CRM software you will find the following helpful when deciding which CRM is right for you.

Banking Before CRM Software

The major banks and building societies were some of the first large-scale users of what at the time were called Data Processing Systems.

Over a considerable period of time, individual systems were built to support largely vertical lines of business requirements. This meant, there may have been a customer database for personal banking customers, another one for business banking customers and yet another one for investment product customers etc.

Unfortunately, this meant that one individual might exist on several different customer databases and that made it difficult or sometimes impossible for the bank to understand its relationship with a single individual or company as a whole.

As a result of these problem legacies, the banks were some of the first organisations to move into CRM on a large scale basis.

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The Challenge For Banks and CRM Software

The major problem for financial services organisations is that they simply could not afford to scrap and replace their individual line of business transaction processing systems overnight. The cost and risk scenarios were simply too great to contemplate.

However, what they could do is to extract information from their individual systems, process it to try and remove duplication and errors, then consolidate it for the purposes of things such as customer analysis and marketing.

The sophistication of a bank’s requirements normally meant that these solutions would be provided by major corporate software organisations and international consultancies.

Major Providers Of Banking CRM Software

It is difficult to say which banking CRM provider is best as they all offer different features which will suit individual companies more than others.

However, certain solutions providers are revered more than others in this particular industry including:


SAP software can help users to take advantage of its in-memory analytics, projecting capability, and mobile accessibility. It can accurately target offers to well chosen customers more precisely by delivering personalised and adaptable messages.

With SAP it is possible to engage with customers effortlessly across all types of channels. All contact with customers can be maintained in just one place, providing banks with invaluable and usable analytics.

The overriding benefit of this system is the Real-time customer insight it provides, which can be tracked including any social media reactions.


IBM CRM gives an enhanced understanding of customer expectations, it is then possible to link this information in with other online systems. IBM CRM is built on scalable architecture that can go from small data sets to large volumes of data making it very accessible to growing customer bases.

From inside the CRM software, it is possible to select ready to go marketing email templates for adaptable email distributions so you can nurture campaigns from start to end.


From its impressive lead scoring capacity to its advanced reporting and analytics, this CRM offers the tools for marketing departments to track and improve company activities. This is a scalable tool, with years of experience on their closest competitor, meaning they offer a more integrated experience and more natural connections.

The capacity to track, record, report and analyse data is enormously valuable. The product allows banks to establish an emotional and more pertinent connection with their clients.


Microsoft is the recognised industry leader, with all of the most recent honours and awards that go along with this. Implementing this CRM is a great chance to bring everything together in order to progress the overall operations your finance company.

If staff are familiar with using other Microsoft products then this CRM feels like you are using just another Microsoft Office programme. The screen will appear similar to using explorer in Windows, making it easy for any new users anywhere to catch on very fast.


Sage CRM offers users a compilation of applications designed to give access to a unique customer relationship management platform. Sage can be rapidly deployed and is uncomplicated to learn. As it is very configurable, Sage users are able to shape it around single requirements.

It is easy to integrate Sage CRM with other applications using the interactive dashboard. It also provides a number of visual fundamentals that deliver a diversity of reporting statistics. The capability for experienced staff to customize their experience gives each user their own personal feel.


NetSuite has become a well-liked software option among companies that are looking for consistency and efficiency. Visitor information on your website can be simply tracked and all your customer data can be routinely transferred into the software.

This software is also easy to use, and it offers a multitude of features which include customer interaction tools, marketing management, lead tracking, and the capability to send individual or mass emails along with other multifunctional tools. This is a user friendly CRM program and is just right for those who are eager to enjoy minimalism combined with effectiveness.

Originally, most CRM repositories and functionality would probably have sat on the bank’s own information technology architecture.

Today, it is possible that increasing numbers of organisations will be buying a hosted CRM solution that resides in the cloud. However, specifically in the case of financial services organisations, there may be data protection issues involved in moving personal financial information out of the legal jurisdiction governing the bank and into the ether of the cloud.

Banking CRM Cost

Organisations such as the above may be extremely reluctant to offer public domain cost information, as pricing is often worked out on a bespoke basis dependant on a company’s size and requirements.

In practice, prices may be subject to very significant variation between suppliers. It should be noted that costs will be very different depending on whether you opt for a hosted CRM solution or pay a monthly fee for a cloud service. With a hosted option there will be significant onboarding costs but monthly costs may not be at steep.

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Rob Binns Expert Market
Rob Binns Senior Writer

Rob writes mainly about the payments industry, but also brings industry-specific knowledge of CRM software, social media monitoring, and invoice finance. When not exasperating his editor with bad puns, he can be found relaxing in a sunny corner, with a beer and a battered copy of Dostoevsky.

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