Privatinvest Bank

Financial Firm Improves Productivity by 20 Per Cent with Relationship Management Software

Privatinvest Bank must keep customers of its private banking service updated on the value of their investments. In a rapidly changing market, financial advisers need fast access to information to improve customer service, communication, and sales opportunities. Microsoft Dynamics® CRM offers a cost-effective solution that helps streamline processes and increase employee productivity, enhancing customer service.

Business Needs
Privatinvest Bank is based in Salzburg, Austria. Its banking and asset management advisers needed better access to customer information and an easier way to communicate with investment clients. Günther Egger, Head of Private Banking at Privatinvest Bank, says: “Information about our customers is a crucial asset that helps us provide a personalised service. We wanted to record all interactions more effectively, and promote collaboration.” The company also needed to:

• Provide a unified, simple point of access to customer information, rather than relying on employees to find records
• Improve and expand collaboration and information sharing between advisers
• Enhance employee productivity by cutting time spent searching for information and customer details
• Communicate financial information to clients more quickly and efficiently

Solution
After reviewing a number of customer relationship management (CRM) solutions, Privatinvest Bank chose Microsoft Dynamics® CRM because it offered the right mixture of functionality and cost efficiency. Egger says: “Many CRM applications are full of features that we don’t need and are far too complicated. Microsoft Dynamics CRM is balanced. It has many useful tools, requires little training, and is cost effective.” The solution:

• Stores up-to-date client information in a central database, which can be accessed by all authorised employees
• Integrates with banqpro, the company’s core banking solution, automatically alerting advisers when investment values change
• Is compatible with Microsoft Office Professional, so employees can easily view upcoming appointments, contact histories, and customer financial data

Benefits

• Transparent business processes improve productivity by 20 per cent as advisers spend less time searching for information.
• Customers will receive investment advice in near real time.
• Employees can identify what information is important to customers and keep them up to date.
• Cross-selling opportunities are easier to identify.
• Customers benefit from improved service matched to their individual needs.
• Advisers can save details of when customers prefer to be contacted.
• Familiar Microsoft tools reduce the need for training.
• The sales team has better information on customer needs and can suggest investments that are more appropriate.