April 06, 2021

How Using a CRM Provides Client Insights for Capital Markets & Investment Banking

When posed the question “How do you define the ‘R’ in CRM?”, almost two-thirds of respondents in a recent Tier1 poll said ‘Relationship’. This is hardly surprising, given CRM’s core role in keeping track of contacts, nurturing prospects into clients, and retaining and growing these relationships.

But if ‘Relationship’ is the only ‘R’ in your CRM, you could be missing out. Our survey indicated that a growing number of capital markets professionals now view CRMs as tools to generate revenue; uncover opportunities and actionable client insights; and manage relationship, reputational and regulatory risk.

Client Insights With Industry-Specific Software

Far more than a contact database, capital markets CRM provides the tools, connectivity, and integrated workflows to deliver a comprehensive, 360-degree view of clients in real time, with details of every interaction at the firm – across all desks– and insights into how they are using the solution. This is especially important in capital markets, where client account coverage may be segmented by product, the various teams across capital markets and banking, spanning many geographical regions, involving many individuals.

Client Data Collection

To create this complete client picture, the CRM must aggregate information from multiple systems and centralize it. Controlled access via a single interface increases efficiency and transparency, and boosts collaboration. This equips the business to make more informed decisions, maximize opportunities for cross-selling, and minimize lost revenue resulting from CRM blind spots – such as gaps in client intelligence or outdated information.

Revenue Generating and Cost Saving Features

A capital markets CRM in what has become a virtual working landscape is a foundational component in driving revenues and uncovering valuable actionable insights that may have otherwise been overlooked.

Despite the clear benefits of a 360-degree client view, the prospect of implementing yet another technology platform may not thrill IT teams that are already stretched and operating with limited budgets. But seamless integration and rapid deployment are possible with pre-packaged CRM solutions, which are significantly more cost-effective than those custom-built in-house, making it possible not only for capital markets firms of any size to achieve an optimized 360-degree view but also spend those scarce internal resources on adding business value and “secret sauce” rather than building core foundational elements!

An optimized, out-of-the-box capital markets CRM also removes the need for expensive system upgrades, with users benefiting from regular enhancements and updates as part of their provider’s offering. This is critical in an industry that must remain compliant with constantly evolving regulation.

So, how many ‘Rs’ are there in your CRM? If it’s only one, your client view may be less than 360 degrees.

 

Contact us to learn more about the client insights available with Tier1’s client relationship management and workflow solutions for capital markets and investment banking, or to request a Tier1 demo.