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A neobank is a bank that operates primarily through digital channels such as an app or website. They often have no physical branches, which allows them to keep costs down and pass on those savings to customers in the form of higher interest rates on deposits and lower fees.

InvestGlass can help you build a neobank by providing you with the necessary software and support to get your bank up and running quickly and efficiently. We have years of experience in the banking industry and can help you every step of the way.

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.

Retail Banking CRM

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

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

person writing on white paper

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

3 x 3 rubiks cube

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

woman in white long sleeve shirt sitting beside boy in black shirt

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

person using black iPad

The SAAS Fintech Banking Platform

A SAAS Fintech Banking Platform is a software-as-a-service platform that provides banking services to businesses. These platforms are designed to make it easier for the people in your organization to process business transactions and send money, all while keeping your data secure. If you’re looking for one of these systems, here are five features that you should look out for:

1) Easy integration with other applications 2) Secure data storage 3) Customizable workflows 4) Completely mobile 5) Fully customizable reports

1 ­– Go digital it’s never too late

The global pandemic has tremendously impacted the speed of technology adoption. Indeed, lockdowns and remote work has made face-to-face encounters rarer. This trend forces executives and managers to, if not yet the case, accelerate digital adoption and offer digital products and services. In the wealth management industry, this implies a greater focus on digital advisory.

The global pandemic disrupted the means of communicating and satisfying clients. Besides, it also modified clients’ demands and approaches. The economic crisis and the ongoing uncertainty have led to increasing demand for financial advisory. InvestGlass provides the means for wealth managers to offer digital advising, be it via their workforce or artificial intelligence, and, thus, to develop a clear competitive advantage over laggards. With this pandemic – private banking – previously the most reluctant to move are running to catch up.

2 – Nurture all customer segments we mean ALL

Over the past years, the role of wealth managers, as well as their client targeting, has changed. From a pure wealth focus, wealth managers are now considering other customer segments. Pricing structures of wealth managers are shifting to include lower balance prospects. Indeed, in order to succeed and be able to provide their service to all market segments by reducing costs or improving efficiency, wealth managers need to partner with Artificial Intelligence advisory providers or similar fintech solutions and SAAS solutions.

Correspondingly, these previously underserved markets are surging as key interests for the future. Women’s and mass affluents’ presence in the financial markets is getting important and the trend can be assumed to grow. The increasing interest in underserved markets enhances the wealth managers’ need to reformulate their pricing strategies to convince these customer segments and partner with InvestGlass. We provide an all-in-one CRM as the cheapest solution on the market and enable offering your service to other segments.

3 – Trust me I am your banker!

Studying the clients’ expectations and behaviour, only 27% of Swiss individuals have worked with a financial advisor and over 50% manage their finances internally. This trend of behavior is a worrying aspect for wealth managers with the rise of new, more efficient, advisors such as Artificial Intelligence and Fin-tech companies.

The Swiss financial environment clearly showcases a duality: most use a bank but choose other means to manage their wealth. This opens a large array of opportunities to convince sceptics, yet, it also conveys long-term risks.

The challenge for wealth managers is that every decision of any individual is now demanding some kind of advice, ranging from buying a house to which insurance a client is selecting. This is where wealth managers need to evolve in the future, in order to gain market shares and fulfil clients’ expectations more thoroughly.

InvestGlass’s platform enables compliance with the need of the market by providing the means to make fast and efficient investment decisions. Satisfy your clients’ expectations starting today!

4 – Marketing hyper-personalization and All-in-one solution

Our customer-focused society has long supported mass customization. This trend is slowly but surely impacting financial services and wealth managers and has been exacerbated by the pandemic as the health crisis creates and enhances a plurality of needs within customer segments. Wealth managers are thus expected to connect with Artificial Intelligence and digital advisory fintech to tailor their offering to each customer. The two main focuses are going to be risk assessing firms, whose technology can interpret a client’s risk profile, and predictive analytics firms, which are expected to have extreme growth potential within the wealth management industry. Use InvestGlass CRM and tailor your offering to each customer with our customizable client portal.

Additionally, customers’ expectations have been changing and shifting towards all-in-one solutions. Indeed, clients and prospects aim at the most inclusive offer on the market. Therefore, wealth managers and financial companies, in general, need to include supplementary services or products in order to compete against inclusive competitors. Wealth managers, who can recognize this trend and act on it, will experience higher client satisfaction and retention. InvestGlass’s all-in-one solution, fin-tech ecosystem and open API embrace the trend.

5 – Get out with trendy thematics – even if you don’t share them. It’s the client first!

Over the last decades, before the pandemic became the main topic of discussion, the sustainability and sustainable investment trend were gaining ground. Global warming, child labor, and, more generally, ethical and environmental issues were increasingly important for investors. The pandemic accelerated the trend and wealth managers’ clients consider ESG (environmental, social, and corporate governance) criteria more closely than in the past. The focus is thus to understand clearly the values and needs of your clients.

Consequently, wealth managers are expected to strengthen their sustainability offerings and showcase priority in sustainable compliant products. InvestGlass provides the means and ends to integrate ESG criteria in your offering as well as an AI rebalancing advisor to match your investment strategy.

6 – Next-Gen Reporting when less is more – or maybe not

For any business, the tech-age our society is in has redefined competition. Firms, companies, stores, and individuals are fighting for awareness and attention. In order to foster engagement and attention from clients, processes have to be easy to use, interactive, and customer friendly. Therefore, technologies and innovations try to enhance clients’ attention by providing visualizable data, graphs, and images to engage and interact with them. Similar account aggregation makes a more friendly and comprehensive view of the clients’ assets.

Consequently, wealth managers can, via the InvestGlass module, deal with clients’ expectations to implement wealth tech which encompasses gamification in forecasting strategies and interaction in client wealth reporting.

7 – Instant Data is not flying cars

Data is the most important source of information for any sales manager. For wealth managers, it is imperative to know your customer and, thus, to base your advice and product propositions on data. The more data is gathered, the better tailored your service or product will be to the client and higher will be his/her satisfaction. As the way to gather such data is limited, advisors and wealth managers are now aiming for an alternative source of information such as behavioral data or localization data.  Additionally, machine learning is an important asset when pursuing predictive analytics and alternative data collection. E.g., Artificial Intelligence can scan the web and extract complex data on sentiments and social network critical trends.

Hence, it is clear that wealth managers will have to develop competencies and capabilities to deal with alternative data and to support machine learning processes, capabilities inherent to InvestGlass solution.

7 Benefits Of Digital Banking In 2021  > Key Takeaways

Digitalization: Digital transformation has been accelerated by the pandemic. It becomes a crucial point for wealth managers and the financial industry, in general, to innovate and embrace the revolution.

Nurture all segments: the range of potential customers for wealth managers is rapidly growing. The industry must understand this trend and change its offering to include lower balance prospects

Financial Trust: Individuals are lacking trust and interest in financial advisory. This leaves room for opportunities and threats within the industry.

Hyper-personalization and all-in-one solution: the mass-customization trend is also affecting customers’ expectations in the retail banking industry. Products should be customizable and integrate all relevant services via an ecosystem and integration.

Values and Sustainable investment: Competition and matching clients’ needs is a key focus during uncertain times. Recognizing the ESG trend and values within customer segments is the next focal point.

Next-Gen reporting: Interact with your clients. Clients are demanding gamification of performance reporting in order to increase their engagement with your product.

Discuss with InvestGlass team today.

baas, Digital onboarding, neobank

red and white sail boat on water near city buildings during daytime

Is it better to build or buy a bank in Switzerland?

We recently collaborated with groups that are looking to buy a bank. What are my thoughts about the pros and cons of applying for a license versus buying a regulated company?

Clearly the main disadvantage of buying a regulated entity is that it will inherit with some liabilities and obligations towards third parties. For example, employees that don’t want to leave, and board members that have complex reputations, clients’ accounts with poor KYC.

Usually existing banks and asset managers have also existing vendors with depreciated solutions and migration can become a nightmare.

Sisyphe, par Franz von Stuck, 1920.

The advantage of buying a licensed company is that you will perhaps save time. You might also be interested to develop existing business with new principles and services like bitcoin.

This obviously is interesting if they have a properly manage CRM or client relationship management tool. You need to read the CRM and PMS audit trail first.

Now, if you go to the acquisition scenario, and you wish to buy a company you might have to build a new team and with the swiss regulation… highly skilled and expensive local professionals. You will need also to apply for an official approval for the change of control, this means that the new owners should be approved by the regulator too! The new board of directors should be structured with high reputation members.

The regulator may also ask you what the new business model are and how this new business model will improve the current situation.

When you start this new bank it is also very likely that the focus will be important on the bank inflows. Each time a stakeholder, or a board member would do any type of inflow or outflow a strong surveillance should be enforced.

The complexity of this process is actually working fine but regularly need updates. We could not advise you better than using InvestGlass remediation tools for a complex on boarding and continuous monitoring. The idea is to be able to show to auditors at any time, yes at any time, that the due diligence and AML, LBA, sanctions check, proof of funds… was done correctly.

Is it better to buy or to build?

If it is to add another shareholder and not change the business operations into an existing structure well definitely it is better to buy.

Now if you have to change everyone in the board, in the operations, clunky pms software to then it’s perhaps better to start something from scratch and applying for your own license.This could be the right time to implement tool for SRI ESG gamified and better onboarding – for the next generation. 

And you would you buy or build ?

Bank as a service, neobank

person using black iPad

7 Benefits Of Digital Banking In 2021

1 ­– Go digital it’s never too late

The global pandemic has tremendously impacted the speed of technology adoption. Indeed, lockdowns and remote work has made face-to-face encounters rarer. This trend forces executives and managers to, if not yet the case, accelerate digital adoption and offer digital products and services. In the wealth management industry, this implies a greater focus on digital advisory.

The global pandemic disrupted the means of communicating and satisfying clients. Besides, it also modified clients’ demands and approaches. The economic crisis and the ongoing uncertainty have led to increasing demand for financial advisory. InvestGlass provides the means for wealth managers to offer digital advising, be it via their workforce or artificial intelligence, and, thus, to develop a clear competitive advantage over laggards. With this pandemic – private banking – previously the most reluctant to move are running to catch up.

2 – Nurture all customer segments we mean ALL

Over the past years, the role of wealth managers, as well as their client targeting, has changed. From a pure wealth focus, wealth managers are now considering other customer segments. Pricing structures of wealth managers are shifting to include lower balance prospects. Indeed, in order to succeed and be able to provide their service to all market segments by reducing costs or improving efficiency, wealth managers need to partner with Artificial Intelligence advisory providers or similar fintech solutions and SAAS solutions.

Correspondingly, these previously underserved markets are surging as key interests for the future. Women’s and mass-affluents’ presence in the financial markets is getting important and the trend can be assumed to grow. The increasing interest in underserved markets enhances the wealth managers’ need to reformulate their pricing strategies to convince these customer segments and partner with InvestGlass. We provide an all-in-one CRM as the cheapest solution on the market and enable offering your service to other segments.

3 – Trust me i am your banker!

Studying the clients’ expectations and behaviour, only 27% of Swiss individuals have worked with a financial advisor and over 50% manage their finances internally. This trend of behaviour is a worrying aspect for wealth managers with the rise of new, more efficient, advisors such as Artificial Intelligence and Fin-tech companies.

The Swiss financial environment clearly showcases a duality: most use a bank but choose other means to manage their wealth. This opens a large array of opportunities to convince sceptics, yet, it also conveys long-term risks.

The challenge for wealth managers is that every decision of any individual is now demanding some kind of advice, ranging from buying a house to which insurance a client is selecting. This is where wealth managers need to evolve in the future, in order to gain market shares and fulfil clients’ expectations more thoroughly.

InvestGlass’s platform enables compliance with the need of the market by providing the means to make fast and efficient investment decisions. Satisfy your clients’ expectations starting today!

4 – Marketing hyper-personalization and All-in-one solution

Our customer-focused society has long supported mass customization. This trend is slowly but surely impacting financial services and wealth managers and has been exacerbated by the pandemic as the health crisis creates and enhances a plurality of needs within customer segments. Wealth managers are thus expected to connect with Artificial Intelligence and digital advisory fintech to tailor their offering to each customer. The two main focuses are going to be risk assessing firms, whose technology can interpret a client’s risk profile, and predictive analytics firms, which are expected to have extreme growth potential within the wealth management industry. Use InvestGlass CRM and tailor your offering to each customer with our customizable client portal.

Additionally, customers’ expectations have been changing and shifting towards all-in-one solutions. Indeed, clients and prospects aim at the most inclusive offer on the market. Therefore, wealth managers and financial companies, in general, need to include supplementary services or products in order to compete against inclusive competitors. Wealth managers, who can recognize this trend and act on it, will experience higher client satisfaction and retention. InvestGlass’s all-in-one solution, fin-tech ecosystem and open API embrace the trend.

5 – Get out with trendy thematics – even if you don’t share them. It’s the client first!

Over the last decades, before the pandemic became the main topic of discussion, the sustainability and sustainable investment trend were gaining ground. Global warming, child labor, and, more generally, ethical and environmental issues were increasingly important for investors. The pandemic accelerated the trend and wealth managers’ clients consider ESG (environmental, social, and corporate governance) criteria more closely than in the past. The focus is thus to understand clearly the values and needs of your clients.

Consequently, wealth managers are expected to strengthen their sustainability offerings and showcase priority in sustainable compliant products. InvestGlass provides the means and ends to integrate ESG criteria in your offering as well as an AI rebalancing advisor to match your investment strategy.

6 – Next-Gen Reporting when less is more – or maybe not

For any business, the tech-age our society is in has redefined competition. Firms, companies, stores, and individuals are fighting for awareness and attention. In order to foster engagement and attention from clients, processes have to be easy to use, interactive, and customer friendly. Therefore, technologies and innovations try to enhance clients’ attention by providing visualizable data, graphs, and images to engage and interact with them. Similar account aggregation makes a more friendly and comprehensive view of the clients’ assets.

Consequently, wealth managers can, via the InvestGlass module, deal with clients’ expectations to implement wealth tech which encompasses gamification in forecasting strategies and interaction in client wealth reporting.

7 – Instant Data is not flying cars

Data is the most important source of information for any sales manager. For wealth managers, it is imperative to know your customer and, thus, to base your advice and product propositions on data. The more data is gathered, the better tailored your service or product will be to the client and higher will be his/her satisfaction. As the way to gather such data is limited, advisors and wealth managers are now aiming for an alternative source of information such as behavioral data or localization data.  Additionally, machine learning is an important asset when pursuing predictive analytics and alternative data collection. E.g., Artificial Intelligence can scan the web and extract complex data on sentiments and social network critical trends.

Hence, it is clear that wealth managers will have to develop competencies and capabilities to deal with alternative data and to support machine learning processes, capabilities inherent to the InvestGlass solution.

7 Benefits Of Digital Banking In 2021  – Key Takeaways

Digitalization: Digital transformation has been accelerated by the pandemic. It becomes a crucial point for wealth managers and the financial industry, in general, to innovate and embrace the revolution.

Nurture all segments: the range of potential customers for wealth managers is rapidly growing. The industry must understand this trend and change its offering to include lower balance prospects

Financial Trust: Individuals are lacking trust and interest in financial advisory. This leaves room for opportunities and threats within the industry.

Hyper-personalization and all-in-one solution: the mass-customization trend is also affecting customers’ expectations in the retail banking industry. Products should be customizable and integrate all relevant services via an ecosystem and integration.

Values and Sustainable investment: Competition and matching clients’ needs is a key focus during uncertain times. Recognizing the ESG trend and values within customer segments is the next focal point.

Next-Gen reporting: Interact with your clients. Clients are demanding gamification of performance reporting in order to increase their engagement with your product.

Instant Data: It is imperative to know your customer and, thus, to base your advice and product propositions on data. Sources of data collection increase and your awareness should too.

Digital onboarding, neobank

person writing on white paper

The 5 best CRMs for banking success

The 5 best CRMs for banking success

To make sure that you will find the right CRM, first you should know them all of course it would be a long article and we will focus on some key CRM here.

What is a CRM as it relates to the banking industry?

Like in any industry, choosing a CRM for financial institutions is not something that easy. CRM stands for customer relationship management solution. In a CRM you will store customer data and use marketing automations, sales pipeline to engage with the right client in the right time.

Most CRM nowadays include workflow automation and customer satisfaction algorithme to improve your customer relationships. .

CRM solutions are key to improve sales and marketings efforts. For financial institutions, data storage is a major issue. InvestGlass a Swiss cloud-based solution took the decision to offer both, on cloud in Singapore, Luxembourg, UK, France, Switzerland, and also on-premise.

Of course small businesses will be satisfied with cloud based solution, larger institutions will need on premise to store customer data in a perimeter they trust.

Banking CRM software is a hot topic and sales team are seduced by modern and AI-based tools to ease customer acquisition and customer retention.

And the industry is only growing:

CRM software revenue forecast

(Image Source)

Why use a banking CRM systems?

Many benefits – but #1 is reduced time to build with little customization or worst coding of the customer relationship management systems: Here is a list of what :

  • Converting more leads into clients
  • Marketing automation
  • Contact management
  • Customer experience tracking
  • Personalizing and improving customer experience and communication
  • Improving sales and marketing productivity by making all client information easy to access
  • Enabling internal data cohesion and collect customer satisfaction data in a coherent sales CRM

There are quite a few to choose from, though, so let’s take a look at the five leading CRMs for banking.

The 5 best Customer Relationship management platforms for the banking industry

#1. InvestGlass.com

Recently awarded by CAPGEMINI, InvestGlass.com is the CRM made for banking teams that choose to close deals faster and with more relevancy. InvestGlass is the only Swiss CRM with no dependencies to the Cloud Act.

We build the CRM software around an open ecosystem that benefits from legacy pillars such as digital onboarding, KYC automation, marketing automation tool, portfolio management, and workflow automation.

Customers’ interactions are prioritize with a sense of suitability of the latest deals you wish to promote. Marketing tools are helping you to hype- individualized each solicitation. Sales and marketing efforts are simplified as the banking template are

You will find here a list of CRM you can connect too with InvestGlass Swiss Cloud:

InvestGlass has prebuilt templates for sales automation in the financial industry environment. With digital forms embed into the CRM software, the data collection from lead capturing or complex account opening forms is made easy.

Prebuilt templates are specially tailored for a bank’s customer relationships and marketing automation are refined with a Swiss touch to make sure that you communicate with your customers are the right time, with the right information, and in the right manner!

It’s more than a simple CRM software, it’s an ecosystem of +30 fintech partners which connect with the API a simple yet complex enough customer relationship management software.

#2. monday.com as a CRM software

A joyful and colourful CRM – Monday. com is a tool that will help teams with opportunity management. The CRM offers pre-built templates and it’s a real integrated markets tools with many features.

Here a view of Monday.comCRM template from Monday.com

(Image Source)

Specific benefits for banks of this CRM system:

When using Monday.com you will instantly find customer information and a cloud-based CRM with all you need to automate sales.Monday.com is perfect too for small businesses looking for mobile apps and of course top industry project management tool.

#3: Salesforce Sales Cloud CRM software

If you want to build a novel or a full 3-D video game, salesforce with more than 20% market share would definitely be Madamde Bovary of Flaubert or WOW level 100…

Dissolution offers sales force automation which is definitely nice to have if you wish to shorten your life cycle management and your sales pipeline. The solution Sales Cloud is Salesforce’s fully customizable CRM for sales, marketing, and support and it needs a lot of adjustments.

Find here a snapshot of the Sales Cloud dashboard:

Sales Cloud dashboard

(Image Source)

Specific benefits for banks of this CRM system:

Sales force automation has interesting AI features for sales reps that will shorten their sales cycle and marketing efforts.

The Sales Cloud will analyzes customer behavior, manage leads and scores leads, prioritizes certain activities that present the best opportunities, and creates bespoke workflows for your reps to ensure a high standard of communication with your clients. It is a state-of-the-art banking CRM software which has complex templates for financial services and insurance.

In a nutshell, the Sales Cloud artificial intelligence tells your sales reps what to do and when to do it, organize customer interactions, based on what it thinks presents the best opportunity!

Sales Cloud CRM is very helpful to create reports and offers modern mobile capabilities.

#4: SugarCRM

Yes you might not think about SugarCRM but it’s a truly complete experience and full CRM tools build all CRM functionality you would require for banking. The machine helps to build marketing campaigns and automate processes.

Here’s a snapshot of SugarCRM:

Snapshot of SugarCRM dashboard

(Image Source)

Specific benefits for banks of this CRM system:

This is clearly an affordable banking CRMs, offering similar functionality to Salesforce Sales Cloud but with more aggressive pricing.

Despite being relatively affordable, SugarCRM is a powerful sales CRM that has helped many banking achieve strong growth and operational efficiency.

The CRM platform isn’t just about customer retention. SugarCRM also offers a powerful marketing automation platform called Sugar Market.

#5: Creatio

You might know it as as Bpm’online, Creatio CRM platform is a low code platform for both CRM and business process management (BPM).

Business process management (BPM) is an operations management discipline that involves modeling, analyzing, improving, optimizing, and automating business processes. The tool your COO would dream to improve operational efficiency.

Here a Creatio dashboard illustration:

Creatio dashboard

(Image Source)

Specific benefits for banks of this CRM system:

If you want a CRM platform to match with customers’ needs and respect customer lifecycle then Creatio is a fantastic solution. Creatio offers too for opportunity management as well and will help you filter sales leads with a colorful approach. Creatio offers multiple tools but the automation process part is the key element of this CRM solution.

#6. Microsoft Dynamics 365

No need for an introduction to Microsoft! Do you know their CRM solution Microsoft Dynamics 365?

This is a very powerful CRM for financial institutions looking for embed email marketing, sales automation and social media platforms.

A picture of Microsoft Dynamics 365 dashboard:

Microsoft Dynamics 365 CRM dashboard

(Image Source)

This CRM platform is more than a simple banking CRM, it is a full ERP (enterprise resource planning) product with powerful analytics that will match most customer needs. The CRM capabilities with Microsoft Dynamics CRM are endless. Definitely in the top 5 of the CRM programs!

Specific benefits for banks of this CRM system:

Most CRM systems have a bias, Microsoft Dynamics CRM is a powerful tool including customer communications and direct connection to emails which is important as a marketing solution. Integrated marketing strategy is becoming key with COVID19 pandemic issues and here you will find a top tool for customer profiles and direct email marketing.

We could also mention top CRM systems such as

Oracle CRM perfect for large financial institutions collecting potential clients data

Zoho CRM perfect for small businesses starting collecting cusotmer information

Zendesk CRM perfect CRM software for contact management and marketing automation

In conclusion which customer relationship management CRM system should you use?

InvestGlass Live Customer Chat

InvestGlass is the best CRM software in the small world of banking CRM. Customer relationship management solutions are about the way you are going to present customer data including their portfolio. Those top CRM can help you with workflow automation, financial services, email marketing, but few have the investment tools and portfolio management tools aspects.

As a regulated financial institution, choosing a customer relationship management CRM solution is about your priorities too… are you going for a cloud-based CRM software, or an on-premise, meaning installed on your servers or on a private cloud?

Do you have sufficient staff to customize the CRM, sales forecasting, create reports, understand the customer experience to match with the right mobile apps?

Get started today with InvestGlass.com’s free banking CRM template.

banking, CRM for banking, neobank


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