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Three reasons bankers consider a CRM

May 18, 2018
Read Time: 0 min

Managing a loan portfolio while handling the three-pronged goal of maintaining high-quality customer service, growing loans and prospecting is the difficult task asked of lenders. The work that goes into managing the portfolio can sometimes mean growth initiatives don’t get the attention they deserve. With the right customer relationship manager, however, financial institutions can improve the customer experience, increase lender productivity, boost portfolio growth and create efficiencies throughout their organization.

Key reasons why bankers consider leveraging a CRM:

  1. Inefficient lending process. Inefficiencies in the lending processes at financial institutions can range from delayed document gathering and missing information to unnecessary data-entry. Another inefficiency is that bankers are often unable to obtain accurate data about their customers quickly.
  2. Disconnect between departments. When different teams use several different methods to document information, be it Excel spreadsheets or emails, tasks will be missed and information can get misplaced because the communications are not streamlined or centrally located. These disconnects in relationship management can lead to missed deadlines and opportunities.
  3. Losing track of customers. Without a central database and a 360-degree view of the customer, cross-sale opportunities are not maximized, risky relationships are not properly monitored and the best clients are not given adequate, personalized service.

Read more about the three reasons bankers consider a CRM here.

Lending is all about relationships

Every banker knows that relationships are the most important piece in building a portfolio. Yet data entry, tracking down information and other paper-shuffling duties can reduce the time available to spend fostering, growing and retaining your customer base. By using software for the time-consuming data entry and as a tool to organize customer data, time is opened up for the lenders to focus on what’s really important: relationships.

Switching to a CRM

Change can be hard but managing a sales pipeline out of an email inbox, spreadsheets or stacks of business cards is harder.  If customer information is stored disparately, it is impossible for different departments at the institution to report on up-to-date customer activity. For a management team trying to hold lenders accountable for sales activities, develop a reliable business forecast and grow the portfolio, it’s time for a strong CRM.

Sageworks Relationship Manager is a platform for bankers with a complete, 360-degree view of each customer. It is a centralized, customizable interface within the Sageworks life-of-the-loan solutions, and a tool for lenders to leverage faster, better data. By pulling in data from the Sageworks system and the banks’ core, bankers can have a comprehensive summary of the borrower, their loan information, their business relationships as well as pipeline activities and opportunities.

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The real-time, aggregated data enables lenders and analysts to more effectively service their customers and report on the institutions’ lending pipeline, and it makes it easier to consistently build forecasts. Further, it allows for instantaneous cross-departmental access to accurate customer data.

Banks and credit unions use customer relationship managers to optimize individual customer relationships, boost loan growth and increase efficiency at their institution. This equips lenders to provide high-quality service, manage risky customers and forecast sales and earnings accurately. Importantly, it enables collaboration among departments for better overall results.

About Sageworks

Sageworks offers banks and credit unions lending, credit risk and portfolio risk solutions to efficiently grow and improve the borrower experience. By automating the life of the loan with Sageworks, bankers book commercial loans faster and reduce risk. Sageworks uniquely provides integrated solutions and industry expertise to more than 1,200 financial institutions that achieve an average 38% higher loan growth than peers.

About the Author


Raleigh, N.C.-based Sageworks, a leading provider of lending, credit risk, and portfolio risk software that enables banks and credit unions to efficiently grow and improve the borrower experience, was founded in 1998. Using its platform, Sageworks analyzed over 11.5 million loans, aggregated the corresponding loan data, and created the largest

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About Abrigo

Abrigo enables U.S. financial institutions to support their communities through technology that fights financial crime, grows loans and deposits, and optimizes risk. Abrigo's platform centralizes the institution's data, creates a digital user experience, ensures compliance, and delivers efficiency for scale and profitable growth.

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