Tag: CRM for banking

A CRM, or customer relationship management system, is a software application used by businesses to track and manage customer interactions and information.

InvestGlass CRM is best for businesses that want to track and manage customer interactions and information. It can help businesses keep track of customer data, interactions, and history, which can help them better understand their customers and improve customer service. Additionally, InvestGlass CRM can also help businesses manage their finances and investments, making it a comprehensive CRM solution.

What is the biggest challenge facing retail banks in 2022?

The turbulent economic landscape of 2020 and 2021 caught retail banking companies off guard, forcing them to set their old business models aside and consider new revenue streams. The coronavirus pandemic was a catalyst for retail banks nationwide to reconsider their legacy mindsets and become more digitally resilient, but what does the retail banking landscape look like in 2022? Let’s look.

What is digital banking & digital banking services?

Digital banking is the process of conducting financial transactions electronically, rather than through traditional means such as visiting a physical bank branch. Digital banking services encompass a broad range of activities, including online banking, mobile banking and remote deposit capture.

Why more customer-centricity with retail banking?

At the very top of the agenda for most financial institutions in 2022 is customer-centricity. There will be a focus on delivering a superior customer experience, alongside operational excellence in 2022 and beyond, as it becomes essential for retail banks to invest in emerging technologies to remain resilient and relevant.

Machine learning and artificial intelligence is now widely used for fraud detection and prevention, as well as for providing tailored services and products to customers. In addition, chatbots are being used more frequently to provide round-the-clock customer service, which is a huge advantage for banks as it allows them to free up staff to work on more complex tasks.

New models have to be made as the general public needs to make informed decisions. FINMA LSFIN, or European MIFID are making the retail advisory market nearly impossible.

Intelligent process automation

According to the financial consulting firm, McKinsey & Company, approximately 50 billion devices will be connected to the IoT (Internet of Things) by 2025, as virtualisation and process automation become commonplace.

3D printing, automation and robots create approximately 79.4 zettabytes of data annually, offering improved insights for greater efficiency and improved decision-making for retail banks. The use of process automation tools in banking, such as digital process automation (DPA) and robotic process automation (RPA), is predicted to continue to grow this year, supported by intelligent automation.

Prioritising digital processes, such as digital loan application management, customer onboarding and new account opening, is essential to create an enhanced customer experience for credit unions and banks alike.

We have seen with InvestGlass banking customers that RPA is now a must. We have built a process for buy now pay later, KYC remediation, cash flow alerts. Digital transformation is also accepted among the leaders and management of banks. Business models are turning to include more services that can be automated.

Applications for mobile banking and payments will continue to soar in popularity, as customers become more comfortable with using their phones to make transactions. In addition, biometric authentication is being used more frequently to improve security and reduce the risk of fraud. This technology uses unique physical attributes, such as fingerprints or facial features.

Ready for cybersecurity in retail banking?

The financial consequences of cyber threats can be dire for the business prospects and reputation of financial institutions. The increase of online data transmission and mobile technology in 2022 will likely lead to a higher risk of both external and internal cybersecurity breaches. : Apple Pay and Google Pay have respective market shares of 43.4% and 25.0% in proximity mobile payments, a nearly $247 billion market.

At the beginning of the pandemic, financial institutions rushed to implement remote working company-wide and pushed their digital banking transformation initiatives forward, leading to increased cyberattacks. In 2022, protecting critical infrastructure and customer information from these cyber threats is more urgent than ever.

Banks are increasingly replacing passwords with biometrics to provide their customers with an additional layer of protection. We are working with the European fintech ONFIDO for this type of onboarding process.

With the recent attack in Ukraine, we will see some new type of threat in the US and Europe. Free movement of cash will be more complex. Of course, this will not affect basic shopping basket operations.

And this covid situation has been horrible for data sharing! Too much data sharing has been realised with counterparts not properly protecting investors’ rights. You certainly heard about the GDPR regulation. GDPR regulation is supposed to protect EU citizens from their personal data being mishandled by organisations. However, it has been criticized for hampering international cooperation between law enforcement agencies.

person holding black Android smartphone close-up photography

Which cloud computing?

To address the increasing need for speed and capacity, both credit unions and banks will likely look to cloud computing solutions to support applied analytics and store data. This can lead to reduced risk of business continuity and security breaches, improved innovation, enhanced efficiency, and increased customer insights. Cloud solutions offer a significant organizational advantage and offer insights that can improve human productivity and benefit back-office and front-office transformation. The rise of banking-as-a-service (BaaS) also accounts for an increase in digital services but which cloud are they using ?

We have been very sceptical of banking turning to Google or Microsoft cloud for security and privacy reason, particularly since the new Cloud Act law. The Cloud Act gives US authorities the right to seize data stored on foreign soil, including data belonging to banks and their customers.

This issue is compounded by the fact that many organizations are still struggling to get a handle on the complex and sprawling digital infrastructure they already have in place, let alone take on new cloud-based services. So, while cloud-based services will depend on the US checking what is inside the bank server ultimately…

With InvestGlass, which is a Swiss family-owned, Swiss hosted solution, we offer banks a unique opportunity to host the data on Swiss servers or even directly on their servers! We believe that the European and Swiss banking industry deserve embedded finance solutions on Swiss servers. This is the best way to make sure that the entire financial process remains on servers you control.

What are the advantages of cloud computing ?

– Scalability. Scalability is the ability of a system to grow or shrink to meet the changing needs of its users. A cloud-based solution can easily be adapted to fit the needs of a growing organisation.

– Cost-effectiveness. Cloud-based solutions are typically less expensive than traditional IT solutions, because businesses only pay for what they use.

– Agility. Agility of fintech help retail banks to move quickly and easily to adopt new technologies and services, which can give them a competitive edge. We will also see more artificial intelligence (AI) in the retail banking sector. Banks are using AI for a number of different purposes, such as improving customer service, fraud detection, and credit scoring. In 2022 is fintech’s demonstrating business profitability by providing genuine value so that their customers start paying for their services. 

– Mass customisation. Inspired from an author we love at InvestGlass – Mr. Joesph Pines

By implementing cloud computing in 2022, retail banks can react quickly to changes in the marketplace and create efficient, responsive, scalable and flexible solutions to replace on-premise infrastructure. With cloud services, smaller banks are now able to compete and drive innovation at a lower cost.

Public, private and hybrid cloud computing allows retail banks to reduce their operational expenses and offer more agile services to remain competitive in the future and embrace digital transformation.

If you’re looking to build, run and scale your digital platform and workflows with ease, get in touch with our experts at InvestGlass CRM today by filling in our online contact form here.

Talk to our team today to learn more about the benefits of CRM for retail banking.

Get started with InvestGlass CRM today

biggest challenge facing retail banks, CRM for banking, neobank

SME lending: Where is it now, and where is it headed?

Small to medium enterprises (SMEs) are the backbone of many economies across the world. They create jobs, contribute greatly to innovation and offer a range of products and services that keep our society functioning. However, SMEs often lack access to financial resources such as working capital loans, mortgages, or other financing options traditionally available exclusively for large companies with deep pockets. In this article, we will present fintech solutions that can offer you finding solutions for small businesses. We will present existing funding schemes and the future of this sector.

What is SME lending market versus the traditional bank loan?

SME lending is part of a traditional bank loan service, which is typically reserved for large companies with deep pockets. When it comes to lending, size matters because banks see a company’s ability to repay as largely based on the business’s assets or collateral. Traditional banks are less worried when they have industry expertise. As you might know, each time you are asking for a loan, the bank has to analyze your company against existing data sets. If this status is narrowed the funding will just be impossible. The bank wants to limit credit risk.

What are the four types of business loans?

The four types of business loans are :

– Equity: Lenders supply money to a company in return for shares of the company’s equity.

– Debt: The lender supplies cash, and the borrower pays back with interest over time.

– Mezzanine finance: A mezzanine loan is one that falls between debt financing (with regular monthly payments).

– Angel investors: A group or an individual who provides funds to a new, small company in exchange for partial ownership (usually they are also looking for the opportunity to provide guidance). Angel investors can also be your friends and family.

Those four types of business loans can be organized around at the market portal. With our solution Investglass come up with builds a dozen loan portals. The portal connects clients, firms offering a perfect match between loans: lend and borrow.

Which SME business should you start?

Lending platforms

Lending platforms are an emerging development in the financial services industry. They provide transparent mortgage comparisons and, depending on the platform, advisory services to their customers. Building the platform with InvestGlass is a good start before building a neo bank.

Platforms have become popular due to easier access and the potential for standardization of product offerings among lenders. Lenders are increasingly looking to partner with platforms in order to provide their products for use on a platform.

One of the primary benefits that platforms offer lenders is access to the customer base, which typically exceeds what they would be able to attract on their own due to better conversion rates and lower marketing costs. Small businesses won’t mind searching for support for a new fintech solution.

Platforms can also be a key driver of innovation. For example, by using the customer data they have collected over time, platforms are able to provide lenders with information about their customers which may help them create more effective products and services. InvestGlass white label platform will help you build your own platform. In less than a day, you will build your own SME lending solution with InvestGlass as a backbone.

Government support changes the loans industry with COVID lending. Make a wise analysis as government COVID loan changed the landscape for 12 months offering money to any companies in the Western countries.

Digital processes and repayments algorithm

Digital processes have taken over the customer experience for banking institutions. They may offer digital-only lending to members eager for a quick response, and credit card companies often use advanced digital solutions, such as virtual card numbers or security chips on one’s physical reader to protect their investment from attacks common in the cryptocurrency marketplace.

Industries ecosystems and funding circle

Mortgages are an entry-level product and provide many connecting points for additional products to retail customers, such as insurance. For a long time, this opportunity was hardly used in Switzerland vs London; but when the search for alternatives sources of revenue is combined with opportunities in residential financing (first and foremost), there have been more market participants setting.

How small and medium-sized enterprises can leverage fintech solutions?

Small businesses can leverage invoice finance and benefit from fintech competitive advantage as traditional banks will usually answer with more conservative positioning.

Fintech usually offers modern schemes and understands medium-sized businesses faster than traditional banks tanks to digital onboarding and automated notation replacing manual expertise.

As we offer with InvestGlass and open banking solutions, lending can be connected directly with lenders in a cloud-based solution. Our solution offers secure access for funding and customers will find a range of credit services. Investglass does not provide financial service so we will connect the CRM to an accounting tool relevant to your country.

If you are specialized in UK finance, we have connections for UK SMEs lending fintech. Authentic specialists will look into your specific lending focus to help you purchase the best fintech solution driving your future growth.

The data is hosted on swiss servers in Geneva and Lausanne. If required by your industry regulator or local government, we can host the InvestGlass CRM system on your server. Hosting the system could be pricey for a small business and we suggest usually starting with the cloud-based solution and then moved to an on-premise server.

InvestGlass fintech specialists will first analyze your specific targeted business lending sector and then manage the orchestration of your cloud solution to invoicing finance fintech, risk management solutions, antimoney lending applications, and trading applications.

Bank as a service, CRM for banking, Fintech ecosystem

How is CRM implemented in the banking industry?

Customer relationship management CRM is key for your growth in 2021 !

CRM stands for customer relationship management. It’s a system that helps businesses track and measure their interactions with customers, as well as the customer’s interactions with the company. CRMs can be software or hardware-based, but they all have one thing in common: They help you find out what your customers want from you so that you can give it to them! Would you update a traditional bank or create a neo bank, the CRM is a must-have.

Where to start if you are a bank?

When your bank the best way to start is first to start with the compliance and risk department. They should be the first to buy into this data collection process. Remember that CRM is before anything else a data collection process. Data collection is extremely sensitive.

The question is : who sees what?

Recall permission is limited via rules: visbility tags, roles and company-wide permissions. With those rules your bank CRM can restrict access to records as well as fields that you were only specific employee to access.

Is the core element of a CRM in the bank industry. With an audit trail system you can later make sure that each information was accessed by authorized collaborator. The audit trail ledger will also make sure that data export or edit were accomplished by authorised collaborators.

eyeglasses with black frames on white fabric

What are the types of CRM?

How to choose a CRM for your business?

You have to choose a CRM based on your bank mindset. Hubspot, Salesforce and Microsoft are US-based CRM that is ruled under the Cloud Act 2018. This new regulation can be a problem for your bank so you should better have a look first.

If you struggle with choosing a CRM, specify your business goals:

  • Do you want to automate your marketing or sales?
  • Are you looking for solutions to analyze your customers?
  • How would you like the departments at your company to collaborate? 
  • Do you focus on long-term relationships with your customers?

You can start by answering these questions and then you’ll know which CRM you should use. It is very unlikely that you will find out-of-the-box CRM. Make sure that you feel comfortable working with the CRM team to build the ideal bank.

Get Started with InvestGlass CRM for banks

CRM for banking

6 Bank Marketing Strategies to Move You Past the Competition in 2022

In the future, banking will be more competitive than ever. You need to stay ahead of your competition with these 6 bank marketing strategies. These strategies work for traditional banks and neobanks too!

The key to success in any industry is a solid marketing strategy. In the banking sector, this means being creative and innovative without forgetting about security and trustworthiness. The following 6 strategies can help you move past the competition in 2021:  

  1. Demographic Targeting
  2. Technology adoption
  3. Digital Apps with your financial services
  4. Customer Value with new bank services
  5. Customer Outreach and lead generation
  6. Hyper Personalization

1. Target Different Demographics for each financial institution

Most banks are trying to attract limited audiences. Money is in the niche right? Would you be a new neobank or a broker with an umbrella license, I am sure that you are targeting specific audiences such as Gen Z, Millennials or Baby Boomers.

On the contrary, we are telling our banking clients to target not only one segment with one specific marketing that would feel like a no-go for another segment. Marketing results are indeed limited if you restrict yourself to one segments. However, with a customizable client portal as developed by InvestGlass and powered with a Swiss CRM, you can customize for your current customers or new prospects a financial brand that will look different for each segment. Target audience is obviously key but you should not restrict yourself. It’s the same if you write a blog post. The blog post can be interesting for millennials and not for baby boomers. Yes, this is true, but in reality, family members can be happy to share the post with other members. Here segments are sharing content.

One size doesn’t fit all. Your bank’s marketing strategies may have more success if you target local, specific, and smaller demographics. For example, if you can identify that your bank offers services specifically valuable to Gen Z students graduating high school and moving into university and college, you could create a strong marketing campaign geared at them. Similarly, if your financial services are better for middle-income baby boomers looking to start a savings program for retirement, you could create a strong marketing campaign on one specfic financial product. Even targeting a local audience will help you create more specific offerings and marketing so that you can more easily differentiate yourself from competitors.

2. Financial institutions must Adopt New Technologies

New technologies are found everywhere in consumer engagement is part of your added value. New technology can start from making sure that all marketing channels are properly covered with a marketing strategy.

Your colleagues have a LinkedIn account. What are they posting on their LinkedIn accounts? Do they have a corporate picture? Do they have a corporate background?

Creating marketing brochures and guidelines is the basis of marketing efforts for any financial institution. The digital marketing agency can help you to set the basic color, wording but you have to make sure that your colleagues effectively use them.

New customers will look into their bankers’ profiles. Therefore you might also suggest and create contacts for your bankers to push on social media. This is what we call influencer marketing or micro-influencer marketing. Each colleague can be part of an effective marketing strategy.

As you can notice here, we are not talking about chatbots or artificial intelligence. Obviously, artificial intelligence and chatbot can be used for frequently asked questions or FAQ. But financial institutions are not only about putting a robot for any type of service… it is about creating human relationships.

brown wooden blocks on white surface

3. Push Digital Apps and Financial Services

Today, an estimated 60% of the world population has an active social media account. New customers are less and less interested in going to physical banks and are looking for digital services. They are expecting to find all your financial products in a well-designed digital bank portal or BAAS portal.

On your digital bank portal, you can add third-party cookies to improve content targeting for each individual client. InvestGlass portal is not an IOS Android mobile app but a web portal running on a browser. There is nothing to download. We believe that this approach is the most affordable mobile banking approach. We will also suggest you use the portal for your prospective customers. Collecting their browsing data is a very important part of your digital marketing strategy improvements. Make sure your GDPR and data processing agreements are updated. GDPR is the European Union’s General Data Protection Regulation.

The digital marketing strategy will include text and video content. Younger generations will prefer video and engaging content. Wealthier or older customer bases will look for expert advice. Creating content is key nearly more important than buying google ads. Good content will position you at the top of search engines. SEO will encourage local businesses and local search so you should make sure your content presents a local flavor: ” Your bank accounts in your neighborhood…” SEO works by optimizing your site for the search engine that you want to rank for, whether it’s Google, Bing, Amazon or YouTube.

4. Return Value to Customers with special financial services

Many companies forget to return the favor to their customers. Through email marketing automation, you can share new service news but also offer specially developed products and target the right customers.

Happy customers should be presented on your social media ads and you should put them in the middle of marketing campaigns. Social media platforms have targeting tools so you will easily match your consumer’s testimonials with potential customers.

For financial institutions, dealing with mass retail customers, you should also watch for online reviews. Customers can share their opinion on Facebook, Linkedin, Twitter so make sure your marketing team prowls financial services testimonials here too. Consumers are your marketing troopers. They will replace some digital ads budget.

5. Focus on Customer Outreach

Customer outreach is crucial as a digital marketing strategy for banks, simply because many banks are focusing on digital and social media marketing. You could create workshops for trading, tutorials to explain tax wrappers, reinvent local banks meeting. You should create content that your consumers will keep and re-use. It’s not sales here, it’s about building relationships with existing customers with quality content.

6.   Integrate Marketing Strategy Personalization with Big Data

First, ask customers more questions. If you can not or don’t feel like asking the question – try the big data approach. With a simple automation algorithm, InvestGlass can recommend products to your existing customer base. All previous interactions are monitored. More data will give you more consumers’ preferences. Existing customer data is used to extrapolate potential customers’ expectations for financial services. Big data bundled to InvestGlass marketing reporting can teach you which marketing strategies work. You will not be guessing why a new account comes to your bank. It’s about target marketing. Customer loyalty is the last pillar of this strategy.

Use data to improve customer experience, focus on complaints and be more proactive about customer service. You will quickly see which channels are the preferred ones for communicating with your institution. The best thing you can do is focus on making digital interactions with customers as human as possible.

InvestGlass Artificial Intelligence and Signal Analysis

Recommendations to engage customers

  • Get an automatic reminder for securities or portfolio to rebalance.
  • Reveal sales pipeline with engagement level reminder. 
  • Create campaign with video marketing, content marketing for different customer segements
  • Test diverse digital channels
  • Test new ideas with new customers
  • Send direct mail carefully
  • Build a simple customer journey with new banking services presentation – like a video game… step by step. Give access to your online banking when customers are read!

Automate Sales Activities Trending Insights

  • Surface key opportunity insights including customer sentiment, competitor involvement, and overall prospect engagement to understand whether or not a deal is likely to close. 
  • Provide advisors and bankers with the best next action to take based on positive and negative signals to increase the likelihood of closing an opportunity.

Control risk with Smart data discovery

  • Find trends in unstructured data or trading – transaction logs. 
  • Calibrate flavour of the month – banking products
  • Identify trading patterns to automatically qualify clients’ suitability.
  • Explain the risk factor to foster a greater sense of connection with as many customers are possible

Marketing Campaign and monitoring

  • Empower your sales with hyper-targeted financial products.
  • Monitor churn and deals that don’t work to analyse blind spots in the sales/marketing process and correct inefficiencies.

A digital marketing agency will tell you – to put customer relationships first!

Effective marketing strategies will start with creating content. Most customers will be interested in your IDs. Customers are eager to learn more like anyone. New clients will be looking for micro-influencers. Those micro-influencers can just be anyone in your company.

Bank’s brand is built with the content you generate. Would you offer investment banks’ services, savings accounts, and interest rates comparison tools, it’s all about content and a capacity to target audiences however they are.

The financial services sector is like any other sector: modern marketing is all about the experience. You have to keep a local bank feeling within your digital tools to make sure that the customer experience will be different with you.

A good digital marketing strategy starts with the tools you use. InvestGlass is a complete Swiss software suite that can help you launch and manage your bank marketing online, from digital onboardingemail marketing to the client portal. The system does all the work for you so there’s no need to search through different platforms or spend hours trying to learn how something works. You get everything in one place and it’s easy to track what’s working and what isn’t – saving time, money, and frustration!

We look forward to helping you build brand awareness in the digital world and generate new leads for your bank.

CRM for banking, email marketing, neobank

Things to know before your start your digital bank

There are many benefits to starting a digital bank. One of the most prominent is that it will allow you to reach out to people who don’t have access to traditional banking services. However, this type of business does come with challenges and risks. In order for your digital bank to succeed, you need a lot more than just an idea—you also need knowledge!

TYPES OF DIGITAL BANKING SERVICES

Digital banking services can develop or you can leverage existing financial services

  • Opening accounts (debit/credit, savings);
  • Processing credit and debit cards;
  • Issuing virtual cards;
  • Personal, home equity, and business loans, etc.;
  • Payroll and deposit services;
  • Downloading electronic statements;
  • Checking the balance;
  • Paying the bills;
  • Transferring funds;
  • Updating personal information.

Then collect as much data possible on the following topics

  • Target your audience
  • Build your IT stack
  • Create your minimum viable product

What banking licence strategy do you need?

Proprietary: single sponsor and single provider. APIs are used as a bridge between developers and customers.

Licensing: single sponsor and many providers; provides a visible interface for consumers and developers.

Shared: many sponsors and many providers; multiple partners control the development process.

Joint venture: many sponsors and single provides; a shared interface that encourages collaboration among sponsors (e.g., fintech companies).

And also FinSA, MIFID, AML 5… and a powerful CRM.

OK – once your are ready you have to build your team and get started! We are glad to help you build your own digital bank or neo bank.

Let’s get started!

CRM for banking, neobank

Setting Up a Neobank From Scratch

The world is changing and so are the ways in which we build digital banks. The newest trend in banking services, neo banking, has been growing exponentially over the last few years. This article will walk you through some of the secrets to setting up a neo bank from scratch. We’ll cover everything from what type of software you need, to how you should price your services.

New start up will benefit from banking as a service plug and play approach.

1. What is a neobank versus a traditional banks?

Neo banks usually do not have a banking license, but you can partner with banks to offer services: personal loans, trading, mortgage, tax advsiory. Neo banks offer a better user experience. User experience is key to facilitate account opening. A financial institution can help you get a banking license umbrella in the country your company starts. These banks usually have a lot more features than neobanks: they provide saving accounts, checking account services, and loans. You might know – WeBank by Tencent, Yolt, and Moven are examples of neo banks.

2. Why setting up your own bank might be beneficial to you – do you need a banking license?

You don’t need a full baking license to start your neo bank. You can create your digital bank without your own banking license. Most challenger banks started with simple core banking systems and an umbrella license. An umbrella license is a license you are sharing with a traditional bank.

A banking license can be extremely expensive and long to obtain. Finding the right banking partner, or financial institution can be an easy way to start your business.

For card issuing, you’ll find in most countries local vendors that will produce prepaid cards and even offer a technology infrastructure and reporting tools.

3. Setting up a neobank from scratch which product do you need with traditional bank infra?

The objective is to be a one stop shop. Building digital will start with digital tools such as a CRM and the client onboarding digital form and good digital marketing tool to efficiently manage distribution channels. You must have a powerful CRM because this is key to collect future client data.

The rest is composable architecture. It is key that your neo bank service offers a lightning-speed digital account opening process. You should also look into payments processing solutions and KYC remediation. InvestGlass team is glad to share with you our knowledge.

4. Things to consider before opening a digital bank (security, fees, interest rates)

If you don’t have sufficient funding to start a modern banking solution we suggest you look into growth hacking. Growth hacking is about finding Viral’s methods to increase client attraction. Very few banks are using growth hacking techniques as most of them prefer spending on Google ad words.

You can be fully digital but physical branches could also be a nice way to welcome your clients outside the digital world. As you will start a financial institution it is important to set yourself apart from traditional banks and legacy systems. You can compete on security with a better cloud computing solution. All neobanks have a mobile phone solution so it’s not there where you will make a difference. Focus on customers journey from their current account to trading account. Focus on consumer experience is new financial institutions will stand out from existing banks.

5. Steps for opening an account with the neobank of your choice and getting started 

Well, the first step is to contact us and we will share with you our best tips for building a digital bank and create innovative products. It is incredibly easy for a starter to kick off without a banking license. With pre-integrated key features of Investglass and he will find all caught banking systems, you are expecting to offer modern financial services.

As we studied several business models, we can guide you to find among traditional banking status quo which regulatory environment will be optimal for your own start-up! Niche market and underserved market segments will be key to grow your company at a faster pace.

How much money do you need?

Digital banking is very accessible as you don’t need to create your own core banking platform to start, you don’t need a full banking license.

Are you ready? Let’s start today!

CRM for banking, neobank

Building Your Future: What Bank Should You Start?

It’s never too late to start building your future, so it is important to get the right banking partner. In this article, we’ll explore some of the things you should consider before starting a bank account.

We distinguish four types of new banks.

Neo banks for saving account and more

Neo banks usually do not have a banking license, but partner with banks to offer services. Neobanksrequire customers to have an existing They offer a better user experience. User experience is key to facilitate account opening. A financial institution can apply to get a banking license in the country, and then offer different types of accounts. These banks usually have a lot more features than neobanks: they provide saving accounts, checking account services, and loans. You might know – WeBank by Tencent, Yolt, and Moven are examples of neo banks.

The new banks with the whole old bank service from saving money, savings accounts to trading

New banks have full banking licenses offering the same services as traditional banks. You will find include Monzo, N26, MyBank, Starling Bank, and Revolut. They are struggling to get independence from legacy frameworks and usually will partner with local tier-one banks when they need to open a new market. For example Revolut with Credit Suisse in Switzerland. Those banks will have to manage expectations of financial conduct authority and prudential regulation authority.

The “non bank account” Non-Banks

Those banks have no connections to traditional banking licenses. Instead, they will provide financial services by other means. This unique model allows the company to operate independently of existing banks.

They usually have strong IT to serve direct debits technology, they don’t offer independent advice or financial products.

The Beta banks – with savings account and more Beta Banks

Joint ventures and subsidiary banks that offer financial services through the parent’s license. Beta banks are often set up as a way to enter new markets. For examples AiBank (China’sCITIC Bank Corp and Baidu) and Simple (Bancorp and BBVA). Those banks have their own ecosystem connecting with their API new business models, new customer experience, and offer connections to third-party financial institutions.

CRM for banking, neobank

5 Tips to Create a Neo Bank with a CRM

Neo banks are a new type of bank that is gaining traction in the marketplace. They offer more customer service and customization than traditional banks, which has led to rapid growth in recent years. However, many neo-banks struggle with retaining customers once they have signed up for an account. One of the main reasons for this is because these types of organizations don’t have a CRM system set up. Even if you’re not planning on launching your own neo bank anytime soon, there are some other benefits to having a CRM system like increased conversion rates and improved customer satisfaction levels!

In this blog post we will go over 5 tips for creating your very own neo bank with CRM. We’ll cover everything from selecting the best software.

1. Select a name for your bank

Most neo bank have a catchy name such as Atom, Monzo, Revolut or N26. The name you choose will have a significant impact on the way your bank is perceived, so it’s important to spend time brainstorming and deciding what best represents what your company stands for.

2. Choose an industry niche – like finance, tech, or food

As you are entering a very crowded financial services industry you have to find your own nice. An industry niche is a great way to stand out and identify with a specific group of customers.

Customer segmentation can be a great way to identify what niche your bank will fit into.

If you are looking for some inspiration, here is a list of the most successful neo banks in Europe:

– Atom Bank – Technology/Finance Niche

– Monzo – Tech Niche

– Revolut – Travel & Financial Services Niche

This is also important to create you first customer-based, simplifying your marketing automation and increase quickly your customer retention. Remember Facebook – it was only accessible from a US university email.

Customer relationship management software will help you to collect these data points. With your InvestGlass CRM you can build then your ideal customer journey to make sure that simple or complex onboarding will be accomplished smoothly.

3. Develop a logo and color scheme that reflects the company’s values and mission

Every bank has a logo and color scheme. It’s important to keep that in mind when developing your own brand or you will get lost in the market. Here is some inspiration:

– Deutsche Bank – Red, Black

– Monzo – Green & Blue

– AtomBank – Orange, Light Grey

We build with InvestGlass CRM a web based portal which is perfect for your banking CRM + connection to third party solution such as ONFIDO for face recognition and ID check, Polixis for name and AML check. AML stands for Anti-Money Laundering. We can give you precious recommendations to build your business rules and connect your self service portals to the best fintech. Connecting any fintech – to create a bank as a service approach.

blue and yellow abstract painting

4. Create an online presence for your neo bank with social media accounts, website, blog posts and more traditional emails

Writing blog and generating content is key visits to your website and downloads of your app.

An example of an online presence is a Facebook page. It’s important to keep in mind that you should always create content for your Facebook page as well, so make sure that it aligns with the tone and style of communication on your other social media accounts.

We suggest also building a sales pipeline management from the beginning collecting data. This is your contact center management system – CRM which customer profiles will facilitate marketing campaigns. Sending the right offer to the right customer at the right time will make your banking business processes smarter. With InvestGlass we built a solution to hyper – individualize your emails.

5. Find ways to engage customers in their banking experience with a cloud based CRM for neo banks

Engaging your customers with the right product is key as their attention span is little. Make your banking experience interactive and interesting for them – it will be both rewarding and result in more customers.

So, make sure you’ve asked yourself these questions before starting to create a new bank: How are my current products meeting customer needs? What is the best way to offer personalized service that talks to the individual consumer’s goals?

With InvestGlass digital forms, you can quickly build the most accurate digital onboarding to offer new experience and solutions: credit cards, travel, payment facilities, mortgages and real estate planning.

6. CRM to Offer customer service through email or phone 24/7

Your banking business as a neo bank is always open! 24/7 – storing customer information into your CRM is important to reduce frustration and speed up customer engagements. An efficient customer experience is particularly important with neo bank platform as the public is usually tech savvy. Customer journeys should also be pre-constructed in your CRM with a detailed knowledge base.

Each customer engagement is stored into a contact report to make sure that issues will deal with and the neo bank sales intelligence collected into the banking crm software.

Imagine you have a customer stuck into lending processes, you want to operate as quickly as possible to prevent any frustruation or worst bad press on social networks!

InvestGlass offers customer service tickets tools. You can also opt for a digital form – application to pull questions and create a client case. Self service has a limit… human interaction will be needed even for a neo bank. Human recommendations will also create goodwill for your neo bank brand.

Once collected all the data is processed into the CRM with a machine learning solution to improve your next interaction.

CRM for banking, neobank

5 Easy Steps to Sign a Pdf Document – We’ll show you how

Signing a document has never been easier!



This Friday we will showcase 5 Easy Steps to us e-signature, you can sign any PDF document with just your finger. It’s the most secure way to sign documents on your phone and it’s so easy that anyone can do it. You don’t need an expensive scanner or printer – all you need is InvestGlass.com and Connective.eu.

And both solutions are instantly connected! Imagine how much time this will save for you and your team! Now everything is digital. And because we’re cloud-based, there are no servers to maintain in order for you to use our service. We take care of all the heavy lifting so that you have more time for what matters most – growing your business!

Sign up here for Friday 11 AM CET – and become a super digital heros 🦸🏻‍♂️🦸🏼‍♀️  in 30 minutes! 

Your future is remote sales. This pandemic is just accelerating it. The soon your master remote sales and the better 2021 will be for your team. 

person holding hands of another person

Leverage InvestGlass.com with Connective.eu : a focus on the eIDAS regulation.

Are you still using paper forms and signatures? We introduce an automated and seamless way to sign your PDFs and documents. Modernize the way your clients sign and trump your competition.

Connective and InvestGlass support you in the integration of electronic signatures and the digitalization of forms within your company. Join us as we highlight the Connective E-signature feature and the advantages of providing such a solution on InvestGlass. Use an all-in-one CRM and marketing automation software. We will show a KYC process.

How to Use a Digital Signature Certificate and robotic process automation?
In this session, Alexandre Gaillard of InvestGlass and Magali Biron of Connective will present and showcase the two fintech solutions optimize and automate digital signature workflows.

You’ll learn how to:

Understand the e-signature advantages with complex regulations – eIDAS, WYSIWYS
Recognize Connective’s approach to comply with these regulations
Use Connective e-signature easily and seamlessly within InvestGlass automation
Digitalize paper documents with InvestGlass including passport

This webinar is made for:

Lawyers
Accountants
Head of compliance
Head of risks
Private equity officer
Business owners
This webinar will be recorded.

CRM for banking, digital signature, eIDAS

CRM for FINSA – A Complete Customer Relationship Management Solution

CRM for FINSA a complete customer relationship management solution ready today

FINSA is a company that provides customer relationship management services to many different industries. They have recently launched CRM for FINSA, a CRM solution built specifically for FINSA’s needs. This blog post will introduce you to their new CRM product and the reasons they needed it in the first place. InvestGlas CRM is customizable and therefore the CRM solution will provide compliance and reporting for FCA, MiFID II, GPPR

InvestGlass’s cloud communications platform covers all 4 layers of ‘compliance within the transaction’ for FINSA:

The transaction created via voice, video, SMS, chat, email.
Transaction recorded and stored
Search and retrieval enabled via InvestGlass or on your premise server
The analysis enabled with voice and audio recording

white clouds and blue sky

1. What is CRM software and why should I use it for my business

InvestGlass built CRM for FINSA will cover all the topics you would be expecting from the risk, suitability, distribution, knowledge and of course investors’ preferences.

InvestGlass CRM is hosted on a secure cloud in Switzerland. The CRM offers full communication channels with email hosted in Switzerland and a client portal also hosted in Switzerland.

2. How can a CRM help me with my business

The CRM will enforce employees’ process in distributing investment solicitations based on customer data and market opportunity. All-in-one, the CRM will improve your customer loyalty and speed up your sales pipeline spotting the right financial information to send at the right time to the right investor.

3. Why choose the FINSA CRM system over other systems

A pre-built FINSA CRM offers the tool you need to capture prospects and respond to your challenges today. The solution offers all modern marketing tool to start FINSA compliant campaign management.

4. Common features you’ll find in our InvestGlass CRM system 

InvestGlass offers a pre-built solution for financial services for customer acquisition with digital forms for digital onboarding. Approval process and automation to filter account opening with efficiency and check automatically your CRM data. Product suitability engine to confront securities data against your CRM data. Smart flag for discretionary portfolio management and advisory services to help your sales with distribution and rebalancing.

5. Pricing options available to you when choosing to use a FINSA-powered CRM solution for your company

InvestGlass is the only solution that offers marketing, CRM, and financial tools into a Swiss Cloud-based SAAS format. It means that you pay based on the number of seats that you activate. Therefore your sales and marketing teams will both have an access to customer information and work together to increase customer satisfaction with positive dynamics!

Customer experience will be very different with FINSA as information will flow in a very different way. We have the key let’s be productive and less busy with InvestGlass CRM.

CRM for banking, FINSA, GDPR, MIFID

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