Blog article
See all stories »

Maximising Potential: How FinTech companies can harness CRM systems for optimal results

In an ultra competitive FinTech landscape, companies must be doing all they can to leverage every advantage available and stay ahead of the competition. With that in mind, FinTech companies are rapidly investing in a wide range of channels and services such as mobile apps, social media, website, and email communications in hopes to engage with their customers effectively and boost loyalty.

Still, with such an array of communication methods, and vast amounts of valuable data to collect, there are challenges. This is exactly where CRM can step in, integrating with these channels and acting as a powerful tool to drive growth and enhance customer experiences.

So, what makes a good CRM? A good CRM should help to tell the story of the customer relationship, going far beyond just sales. It should also include an integrated marketing tools and customer service module. With modern CRM solutions that allow the use of analytical mechanisms, fintechs can benefit from insights on ways of working with the customer. By recording interactions, CRM can suggest effective offers and other activities that build and strengthen the relationship with customers. A great CRM should integrate multiple data sources, and participate not only in the interaction of initiating business, but also offer support for the existing customers. Think of your CRM as your well-informed advisor, working alongside sales teams and acting as an ambassador of the customer.

By utilising CRM systems to their full potential, FinTech companies can track every part of the customer journey in one place and use that data to influence the services they offer, bolster transactional processes, or run more efficient and effective marketing campaigns in well selected channels . With this, FinTechs can unlock a whole host of benefits, including complex customer analytics, automated marketing, enhanced security and low-code possibilities.

So, for FinTechs looking to stay ahead, how can CRM systems be harnessed to their maximum potential? And, what are the results?  

Complex Analytics

Analytics lie at the heart of every successful FinTech venture however, not all are interpreting and extracting the value in the vast amounts of data they have access to and can collect. To support this, CRM systems offer advanced analytical capabilities, allowing FinTechs to gain valuable insights into customer behaviour, market trends and business performance.

By integrating CRM data with external sources (e.g. social media or transaction histories), FinTech firms can build comprehensive customer profiles and develop more targeted strategies. This data-driven approach enables more personalised recommendations, risk assessments and optimised financial planning, ultimately driving customer satisfaction and retention.

Enhanced Security

Security is paramount in the highly regulated FinTech industry where protecting sensitive customer information is a top priority. CRM systems which offer robust security features including encryption, user access controls and data backup mechanisms can enhance a company’s security.

The most important feature of CRM is an advanced data access management system. It employs encryption techniques to secure data during storage and transmission, preventing unauthorised parties from gaining access to sensitive information. It also offers organisations to establish detailed access controls, sharing only the data that’s required for individual roles.

A very important element related to CRM is the system architecture which aims to protect customer data. Sensitive information should be collected in a central back office system, usually CRM, and made available to front office systems, on request, in the required data scope. Front office systems are obviously more vulnerable than back office which is why architecture, such as CRM, allows for better protection against data leakage. CRM should ensure high security standards and can help to improve overall security. 

Therefore, implementing CRM-driven security measures can instil confidence in customers, fostering trust and loyalty.

A personal AI assistant

AI assistants in CRM systems, like Microsoft's Viva Sales, automate routine tasks, allowing sales teams to focus on strategic activities. By providing real-time insights based on customer data, they enable salespersons to personalise their approach, enhancing customer satisfaction.

In the FinTech sector, these AI assistants analyse complex financial data to provide personalised advice, helping salespersons offer relevant products or services. Thus, AI assistants in CRM systems are a necessity for sales teams aiming to stay competitive in the evolving FinTech landscape.

Moreover, AI assistants are transforming the way sales teams prioritise and manage leads. By analysing various data points, these assistants can score leads based on their likelihood to convert, enabling salespersons to focus their efforts on the most promising prospects. This intelligent lead management, coupled with the ability to provide real-time coaching and feedback, makes AI assistants an invaluable tool for sales teams striving for efficiency and effectiveness in the competitive FinTech industry.

Scalability and Growth

The beauty of CRM systems is the flexibility, and scalability they provide, allowing FinTech companies to expand and scale back their operations as needed. For FinTechs at the start of their journey, this can be a huge advantage.

With CRM, businesses can easily accommodate growth by integrating new functionalities and managing increased customer volumes. And as a company grows, so do their teams. CRM systems which enable effective communication across these teams and across different locations foster a cohesive and scalable structure internally too. Therefore, CRM systems can support companies with a flexible foundation for scalable growth. 

To conclude, CRM systems can be transformative for FinTech companies, empowering them to reach new heights. By fully harnessing these capabilities above, FinTechs can streamline processes, improve customer experience, increase operational efficiencies and ensure flexibility for growth. In the competitive FinTech landscape, embracing CRM technology is no longer a luxury, but a necessity for companies looking to stay ahead and thrive.

For Fintechs looking to maximise the potential of their CRM systems, it’s important to reevaluate current systems and consult external IT specialists that can support with the appropriate CRM strategy based on business aims. Importantly, you’re not alone and tech specialists like myself are here to help and advise on how you can get the most out of CRM.

Ambroży Rybicki, CEO and co-founder of ARP Ideas



Comments: (0)

Ambroży Rybicki

Ambroży Rybicki


ARP Ideas

Member since

24 Jul



Blog posts


This post is from a series of posts in the group:

Finextra site news

We'll use this to announce new features and let you know if there is any maintenance in the pipeline. Feel free to post questions/tips/requests here.

See all

Now hiring