More Banks Turning to Microsoft Dynamics CRM

While the pundits’ assertions that Microsoft is losing its relevance and innovation mojo continue to swirl, especially with an impending CEO change, there are still some bright spots in the company’s product arsenal, at least when it comes to enterprise applications. At the SIBOS global financial services event in Dubai, Microsoft announced that several leading banks are using Microsoft Dynamics CRM to shift from transaction-based businesses to customer-focused businesses.

I believe the specific capabilities that make the Microsoft Dynamics CRM solution appeal to banks include the platform value prop (interoperability with other Microsoft technologies), the customizability to meet their specific reporting and analysis needs, the flexible deployment options (either cloud or on-premises), and the ease for users familiar with Microsoft Office. Banks report quick user adoption, increased sales productivity (number of customers supported by a rep), improved quality of customer service, and reduced times to generate useful insights.

Financial institutions are reportedly drawn to the fact that Microsoft Dynamics CRM works seamlessly with other productivity applications such as Microsoft Outlook, Microsoft Word, Microsoft Excel, Microsoft SharePoint, and Yammer. They can thus drive proactive interactions with end customers, leverage deep client insight, and deliver intelligent offers and custom-built experiences. In essence, Microsoft Dynamics CRM can help financial institutions become a trusted advisor for their clients by improving customer retention, adding new customers, and improving advisor productivity.

A recent post on Microsoft’s Executive Insight blog talks more about how the UK’s Metro Bank, Hungary’s MKB, Volkskreditbank AG (VKB) of Austria, and ABN AMRO Bank of the Netherlands are redefining how they engage with customers and delivering exceptional customer experiences with Microsoft Dynamics CRM. The VKB case study in particular gives details about why the bank selected Microsoft Dynamics CRM.

Microsoft Dynamics CRM's total cost of ownership (TCO) is certainly a factor, too. It will be interesting to see whether the product’s appeal broadens once new technologies such as the recently acquired MarketingPilot and Netbreeze, Lync, and Skype become tightly integrated.
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