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Banks in Europe and the Middle East Plan to Invest in CRM Technology

Published: September 5, 2008

According to a new report commissioned by SAP AG and conducted by the Efma Europe and the Middle East view customercentric activities as a strategic differentiator and thus plan to invest in CRM technology.

With increased competition and the need to improve brand image, more than half of the banks in Europe and the Middle East view customercentric activities as a strategic differentiator and thus plan to invest in customer relationship management (CRM) technology, according to a new report commissioned by SAP AG and conducted by the European Financial Management and Marketing Association (Efma). 

"In the current economic climate, it is more important than ever for banks to have as much insight as possible into the financial needs and behaviors of their customers and prospects," said Martha Bennett, Research Director, Financial Services Technology, Datamonitor. "Providing a level of service that makes the client feel well looked after and valued is as critical as the ability to offer the most optimal product at the right time. In order to achieve this, banks need to ensure that they have systems and processes in place that allow a view across distribution channels and avoid organizational silos."