CRM for Banking


In today’s digital age customer expectations have changed and banks are struggling to keep up. People now expect the same customer experience from retail banking as they get from major retail brands. The appeal of financial services catering to today’s individuals, fully based on technology, is huge and they are winning new customers through their digital channels. The new normal of personalisation, engagement, digitised services, and constant innovation, is essential for banks to maintain and grow their customer base. They can’t afford to act like old school traditional banks anymore.

Iceland has embraced internet banking more than any other nation, with 91% of the population banking online. That compares with around 55% for other advanced European nations.

of the Icelandic population bank online

banking apps downloaded in the UK

 fall in branch transactions between 2009 and 2014

Source: British Bankers Association’s World of Change Report (June 2015)


Banking, being a heavily regulated industry, was always going to take longer to be disrupted by the digital revolution but that time has definitely come. To satisfy new customer expectations a whole industry called Fintech has emerged. Fintech firms use mobile and internet technology to create new or superior banking products. According to Investopedia, global investment in Fintech increased 2000 %, rising from $930 Million in 2008 to $20 Billion in 2015.

The Fintech start-ups are posing an increasing threat to traditional banks in the form of taking away their customer
base. These emerging firms have taken a completely fresh approach of attracting new customers using attractive
digital value propositions and innovative services. The big banks no longer have a monopoly on the market
as these new innovative models are able to take a chunk out of each part of a banks’ portfolio.


“Banks today have a simplistic understanding of their customers and a vastly complex product set. The winners of 2020 will turn this on its head. They will develop a much more complete understanding of their customers and dramatically simplify their product set, and so deliver a significantly enhanced customer experience with lower
levels of operational risk. Begin with understanding customer needs, not with products and pricing.” – Retail Banking 2020, PwC.

The biggest asset banks have in winning and retaining their customers is their reputation for trustworthiness
and stability. Trust for new financial services does not occur at the speed of technology. So how do banks leverage the existing relationships they have with their customers?

According to the PwC Retail Banking 2020 report developing a customer-centric business model is key.

  1. Banks need to develop a much deeper, holistic understanding of their customers.
  2. They need to acquire, integrate and analyze multiple sources of internal and external data.
  3. They need to be able to understand their customers’ needs and be present with a relevant solution at the time of need.
  4. They have to simplify their product sets.

In short, banks need to redesign their whole business from a customer point of view.


Banks are facing a new reality due to rapidly changing consumer behaviour. Customers are doing more and more online via social media, websites and mobile apps, hence banks now have to deal with a variety of data sources. With the increase in data, it is absolutely vital for banks to be not only able to hold more information in both structured and unstructured formats but to also ensure that they store this data securely.

In recent years we have inevitably seen a rise in both the frequency and size of data breaches across multiple industries meaning keeping customers most sensitive data protected must be a top priority. Not only are financial institutions at risk of facing hefty fines for data breaches they are also at risk of losing their reputation
which you simply cannot put a price on.

In order to keep pace with the market, they need to constantly evaluate whether their financial system can meet the technology and data security needs. Also, changing regulatory requirements require banks to be compliant in terms of protecting their customer’s sensitive data. Banks can no longer afford to use legacy systems that are ill-equipped to deal with modern-day requirements.


The digital revolution is disrupting banking and banks have to adapt quickly or face the consequence. They have to build their businesses around their customers’ ever-evolving needs. This is easier said than done since core banking systems were built using antiquated technologies that are difficult to modernize and very expensive to rip and replace. Also, no one has a clear view on the future technologies and what IT systems, social or otherwise, their existing software system will have to integrate with.

Sugar is in a unique position to enable banks to integrate with their legacy data sources and create a business model that will protect and grow their existing customer base. With Sugar, banks can build a scalable platform that will easily integrate with the new financial software applications in the future. Rather than get left behind banks can now embrace innovation and use technology as a powerful enabler to improve customer experience and reduce cost. SugarCRM will help you to understand how to think of your business from the customers’ point of view.


Sugar is the industry’s most highly customizable CRM platform based on open technologies. Only Sugar gives users the level of flexibility needed to truly create differentiated, winning customer experience strategies. Whether your software is deployed on-site, in the cloud, or On-Demand, Sugar offers the same level of functionality, customization, and integration with 3rd party systems and tools.

You will be able to support extraordinary customer relationships knowing that Sugar will integrate with your existing systems and emerging technologies. Using Sugar you will be able to accomplish the following:

  1. Easily integrate with legacy core systems that no longer meet your requirements
  2. Continue to support regulatory compliance by securing your customer data
  3. Deploy your financial information on a software platform on-premise or on the cloud
  4. Easily integrate with 3rd party data sources
  5. Customize your application to improve user experience through a highly customizable platform based on open
  6. Seamlessly adapt to the needs of your business


An easy to use CRM system will result in higher adoption, ultimately resulting in adding more value to an organisation. Designed with the individual in mind, Sugar offers the most innovative and intuitive user experience on the market through SugarUXTM. Using SugarUX’s modern and immersive interface, every customer-facing employee can effectively engage with customers benefitting from a consistent Sugar experience regardless of the
access point or device used.

Embedded collaboration tools help break down departmental silos and increase engagement and service levels. Best of all, Sugar provides contextual intelligence from internal and external data sources all within a single dashboard—to drive more actionable insights for every user.

In summary, Sugar offers the following benefits:

  1. Modern and immersive User Experience
  2. Consistent interface across all devices
  3. Integrated collaboration tools to break down silos
  4. Contextual intelligence from internal and external data sources within a single dashboard
  5. Supports iOS, Android and other devices with mobile browsers.


Customers are changing and have more demands than ever before. They want to stay up-to-date around the clock, shop online and browse on mobile devices. Banks are preparing for these changes by establishing new processes to converge marketing, sales, and service.

Sugar will help your company master this transformation and drive sustainable top and bottom line growth.

ADVANCED WORKFLOW SOLUTIONS – let organizations create smarter solutions for lead transfers and support. Banks will drum up even more interest from new and existing customers.

MARKETING AUTOMATION SOLUTIONS – support multi-step campaigns in both the planning and implementation phases. Banks can easily manage and improve marketing cooperation with their agencies.

ANALYSIS AND REPORTING SOLUTIONS – integration helps banks recognize trends and identify customers looking to switch providers so they can begin counter-measures before it‘s too late.

CUSTOMER JOURNEY – Sugar can help you effectively orchestrate the end to end customer journey to provide customers with the best experience across all channels and all touch points.


Sugar delivers the best all-around value of any CRM solution in the industry. The real value of Sugar goes far beyond the low total cost of ownership customers have enjoyed for more than a decade. In addition to robust sales, marketing, and support features, businesses can customise and build on the Sugar platform without hidden fees or forced upgrades to costlier editions. You can integrate with unlimited third-party applications without additional charges or fees. The low cost of ownership helps companies place the power of Sugar into the hands of even more customer-facing individuals to drive consistent, extraordinary customer relationships.

1. Simple, predictable pricing with no hidden fees or forced upgrades
2. Industry’s most innovative, flexible and robust CRM
3. Fuses the simplicity, mobility and social aspects of a consumer app for all customer-facing employees.


TRANSFORM CUSTOMER RELATIONSHIP – Centralising all of your customer data in a modern CRM the platform enables you to connect all of the dots and build a relationship rather than merely conduct a business transaction.

GET IN SYNC – Having a real understanding of your customer needs enables you to meet your customers’ expectations. When your customer chooses to interact with you show them that you know who they are and value their loyalty.

CREATE AN EMOTIONAL CONNECTION – Personalise interactions and brand loyalty throughout the entire customer journey. Happy customers are loyal customers and are your best advocates – let them promote your brand for you.

Download our FREE Whitepaper on CRM for Banking here.

Contact iZeno, we would be glad to assist you and discuss your needs at any time. We can explain how our modern and intuitive CRM solution can help your company prepare for the future.

Write or call us:
iZeno Marketing –
Telephone: +65 6100 2788

iZeno is the Elite Partner of SugarCRM

iZeno is the Elite Partner of SugarCRM with over 12 years of successful implementation and delivery over 200+ Projects. We are also recognized as the APAC Reseller of the year for FY2018.

We work with companies & organisations to build a 360 overview of their customers (internal and external) and optimize their sales, marketing and support processes using SugarCRM and also integrates with many other solutions such as Telephony systems (AWS Connect, Cisco, Avaya, Aspect,3CX), SAP , Hootsuite, Moobidesk, Zendesk, Inbox25, Xero and other core systems to drive business outcome.

With leading presence in the region, headquartered in Singapore and operation in Malaysia, Indonesia, Thailand and Philippines, no project is too complex for us, and our team is always ready for a new challenge.

Contact Us for a discussion on your CRM initiatives and Customer Experience Challenges.

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