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With the introduction of gadgets such as smartphones, tablets, smartwatches, etc. consumers now have more access and convenience in their hands, which resulted in them becoming more demanding when it comes to banking services or when interacting with banks and credit unions.

 

Initially, banks encountered many challenges integrating their customer management channels to offer their customers a seamless experience when using their products. As a result of this, the so-called Omni-Channel emerged. An omnichannel would incorporate all these channels and a consistent presence in each step.

 

An Omni-Channel is customer-focused, and it allows clients to interact with banks through multiple channels to help understand their customers' preferences with the help of analytics tools. It is based on systems of engagements, and it heavily relies on Big data.

 

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Thus, an omnichannel helps simplify the IT environment by integrating all the digital delivery channels and the internal and external systems. Furthermore, it helps support customers through various touchpoints and provides relevant information for solving their queries.

 

Features 

  • A 360-degree channel engagement.
  • Facilitates customer-specific analytics.
  • Ensures superior satisfactory customer service across any channel.
  • Offers Customers a consistent experience across all channels.
  • Helps in providing relevant products and services to customers.

Some of the top Omnichannel vendors for Banks and credit unions include:

1. Datava

Datava provides cost-effective Modular and Complete CRM (Customer Relationship Management), MRM (Member Relationship Management), and BI (Business Intelligence) solutions uniquely suited to meet the complex needs of financial institutions. It offers solutions are integrated, cloud-based, fully-managed, and configurable.

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Features

 

  1. Integrated Solutions - Datava solutions integrate with your existing systems to deliver the exceptional functionality your teams need to succeed. 

  2. Easy Setup - Datava data fabric allows an easy setup and a fast and straightforward process, with little or no load to IT Setup.

  3. Maximize Productivity - Datava solutions automate the repetitive work allowing you to lets you eliminate manual processes and save time.

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2. Total Expert Experience Platform

Total Expert is the leading fintech software company that delivers purpose-built CRM and member engagement for modern financial institutions. The Total Experience Platform unifies data, marketing, sales, and compliance solutions to provide a cohesive experience across the member lifecycle. Total Expert turns member insights into actions to increase loyalty and drive growth for credit unions and other financial services firms. For more information visit totalexpert.com.

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Features

 

  1. A Central Marketing Dashboard 

    Deliver consistent brand communications across all channels from a single dashboard that manages and monitors marketing for your organization. 

  2. Marketing-Automation Tools 

    Build, customize, and deploy authentic member-experience workflows and campaigns at scale with personalized email, social media, and SMS.   

  3. Content-Creation Features 

    Bring high-converting digital and print marketing materials to life in minutes with drag-and-drop tools and expert-designed templates for the financial services industry.

  4. Sales-Efficiency Tools  

    Eliminate duplicated outreach efforts, prioritize hot opportunities, and get a clear, comprehensive view of every member so you can connect, human-to-human. 

  5. Always-On Compliance Workflows   

    Put your regulatory compliance on autopilot with one-click reporting and tracking tools.

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3. Comm100

 

Comm100's digital omnichannel customer engagement platform powers genuine interactions anytime and anywhere. With Comm100, you can take command of conversations through live chat, email, social media, texting, and messaging more efficiently than ever before with human agents, virtual assistants, or a finely tuned combination of both. As a result, Comm100 enables delightful digital experiences that drive revenue and reduce operating costs, From front-line marketing and sales to ongoing service and support.

 

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Features

 

  • Live Chat: Comm100's Live Chat is the world's most robust and easy-to-use chat solution. Endless configuration options and powerful features like co-browsing, auto-translation, audio/video chat, and advanced routing make it a win-win for your customers and representatives alike.
  • Omnichannel Ticketing & Messaging: Manage all social, SMS texting, and email channels together. Enable agents to communicate with customers across channels, the transition between channels, and get needed context from previous interactions within a unified agent console.
  • Intelligent Assistance: The future of client engagement is digital, and digital engagement platforms are AI-powered. From advanced, deeply integrated chatbots to innovative agent-facing tools that speed resolution and automate tedious workflows, Comm100 offers a range of solutions to get you to the future today.
  • Knowledgebase: Comm100's Knowledge Base helps you centralize your vital knowledge resources and ensure quick and easy access for agents inside the console or customers on the web or mobile.

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4. Core iQ - By Onovative

 

Core iQ by Onovative, is an all-in-one communication platform for banks and credit unions. It lets you communicate across various channels with your new and existing customer base. Multiple channels like email, product offers, surveys, letters, account notices, postcards, and queue up phone call scripts, lets you communicate with your customers - automatically. 

 

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Features

 

  • It helps to identify trends and opportunities with every relationship the bank or credit union has. In addition, it allows banks to offer the right products and provide enhanced services.
  • It helps create lists of people based on age, products, status, balances, even balance fluctuations.
  • It facilitates automatic onboarding. It identifies products that drive new relationships and builds audiences based on those products.
  • It enables fully automated onboarding. It helps in setting automated trigger events for sending out onboarding messages.
  • It helps in adjusting priorities and maximum attempts to be made. So, a bank or credit union can change cross-sell offer priorities and maximum offer attempts at any time.

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5. Encore Business

 

It is one of the largest providers of Microsoft Dynamics and Microsoft Cloud worldwide. The Encore team has delivered thousands of projects to various organizations, including Banks and Credit Unions. Their services include systems integration, project management, and change management. Here are some of the features offered by their CRM tool.

 

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Features

 

  • Encore's CRM solution offers flexibility with the option to have it as a cloud-based tool or as a server-based solution.
  • Businesses can streamline lead management and track and improve weak areas with their sales force automation functionality.
  • The tool allows users to integrate the Microsoft Dynamics CRM with event marketing, email marketing, and other digital marketing platforms grants you unified marketing.

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6. Hubspot

 

Hubspot is a CRM and marketing automation platform that offers a wide range of resources including Marketing Hub, Sales Hub, Service Hub, CMS (Content Management System) Hub, and Operations Hub, to help financial institutions grow better.

 

  • Marketing Hub - Helps in growing traffic, converting visitors, and running complete inbound marketing campaigns at scale. 
  • Sales Hub - Helps you get deeper insights into prospects, automate the repetitive tasks and close more deals faster. 
  • Service Hub - It allows you to improve the overall customer experience of your members  
  • CMS (Content Management System) Hub - It allows you to create, alter and manage your website with ease.
  • Operations Hub - This allows you to store, customize, and manage your data with ease.

 

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Features

 

  • Hubspot tools offer integration with many other different CRMs. This makes it easy for you to implement HubSpot.
  • Marketing Hub offers an easy-to-use drag and drop builder that lets you prepare your emails easily.
  • The Service Hub allows you to connect with your customers via a ticketing system, a knowledge base, live chat features, one-to-one emails, VOIP tool, video hosting, and automation capabilities.
  • The CMS Hub offers custom website templates that allow you easily create websites with features like drag-and-drop editor, form creation, a blog, website and landing pages, etc.

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7. Oracle Banking Digital Experience

 

Oracle Banking Digital Experience provides an enterprise-class, modern, and scalable as per future needs of the bank and credit unions. It helps financial institutions to attract, onboard, and serve customers with a context-aware channel solution. This solution is powered by a robust API framework that integrates with any core processor.

 

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Features

 

  • It has an architecture that is open and componentized.
  • It delivers a complete digital solution with the help of Oracle Enterprise assets.
  • It has a pre-built collection of more than 1000 fine-grain restful services.

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8. PEGA Omni-Channel UX

 

PEGA provides an integrated, multi-channel system that is capable of managing telephone both inbound and outbound, Web and mobile chat, email, social, Web self-service, fax, and white mail service interactions. 

PEGA’s Customer Service provides historical cross-channel information. It provides the customer reps with information on what actions were taken on behalf of a customer during an interaction and the related service requests made. This helps the customer support to gain visibility on the customer history even if the customer has interacted through multiple channels such as a Web self-service site, a mobile device, or directly with a bank’s contact center agents. 

PEGA’s Omni-Channel UX delivers a consistent and optimized user experience in every channel provided by banks or credit unions.

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Features

 

  • It helps in providing the visibility of customer interactions regardless of channel.
  • It helps customer relationship agents to create single connected, omnichannel conversations with customers. This customer information is presented to customer relation agents with a single view across the front-end with back-end systems, as well as across multiple systems of record, applications, and data sources.
  • Pega Case Management provides a unified view of the customer’s case throughout the organization. 

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9. Salesforce

 

Salesforce is a unique business solution that collects customer information from various sources. It presents it under one platform to formulate a customer-centered business that understands the needs of its clients. The CRM solution offers a solid package of unique features for banks and credit unions to establish a winning formula for customer service.

 


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Features

 

  • Salesforce contains business solutions that seamlessly integrate to grant you and your customers an all-rounded experience. Some of the solutions include Commerce Cloud, Service Cloud, Marketing Cloud, and more.
  • The platform has a user-friendly interface that offers superior project management features capable of building workflows, assigning tasks, etc.
  • This platform can easily import data from various sources, including email addresses, spreadsheets, Google Calendars, etc. 

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10. SugarCRM

 

It is one of the most popular customer management platforms that serve a clientele of over 50,000 institutions worldwide.SugarCRM offers unique solutions to help you manage sales-related tasks. The CRM is offered in 9 different languages and boasts over 7 million downloads.

 

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Features

 

    • SugarCRM allows users to manage the whole cycle of a sales lead right from the start to the order point while providing the possibility of closing a deal.

    •  The CRM allows organizations to communicate with existing and potential customers through bulk emailing, provision of email templates, and subscription management to work efficiently.

    •  The tool features a case management functionality to help organizations manage their customer queries and reports.

    •  When it comes to reporting, SugarCRM enables users to generate reports for all the information contained in the system to help them draw valuable conclusions.

       

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Conclusion

 

IIn the past few years, the concept of banking has changed drastically. As more and more customers become comfortable with ever-changing technology, their interaction with banks is also changing; they now prefer having a more personal experience every time they interact with banks.

Banks and credit unions can now provide customers with a seamless, personalized service across any touchpoint with Omni-Channel. Banks can also use customer information available through Omni-Channel to push the right products to help them boost their revenues and customer satisfaction.

Disclaimer-: These solutions are selected based on our experience (around usage support, administration, integration, etc.) and anecdotal conversations with multiple leaders in the industry. 

The solutions listed in the article are ordered based on their investment in the CULytics community and alphabetically.

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