customer management, Customer Onboarding

How NBFC CRM Improves Customer Experience

The instant surge Non-Banking Financial Companies (NBFC) in the lending industry has paved way for technology to play a vital role. Managing their relationships with customers, vendors, partners, employees, and other stakeholders has become a top priority of NBFCs. And, this is where CRM ( customer relationship management) software is designated to help the lending institutions.

CRM software assists NBFC track interactions between individuals and organizations, helping them build stronger relationships and better serve their customers. A good CRM system provides tools that allow you to create, measure, analyze, and act upon data from every aspect of your business. This allows you to gain insights into your customers’ behavior, identify opportunities, and take action accordingly. They track information such as sales leads, orders, payments, and other activities related to customers.

Customer experience is critical for every business, but it’s especially important in the financial services industry. Clients today have hundreds of alternatives when it comes to choosing a financial institution to manage their funds, and NBFCs compete for customers by providing cheaper costs, bigger returns, and innovative digital services.

Here are some crucial benefits of having CRM for a better customer experience:

1. Gather real-time customer experience data across all channels and touchpoints

Understanding what your consumers are thinking is the first step in providing a fantastic customer experience. You may develop a customer experience pulse by launching surveys and collecting feedback across all channels to identify areas for improvement.

In-branch (office) feedback – By collecting feedback by mobile or email shortly after in-person visits, you may evaluate client sentiment while the experience is still fresh in their thoughts, allowing them to offer more honest and useful feedback.

2. Automate the lending process

CRM system may enhance the customer experience by including numerous connectors that reduce many of the difficulties associated with manual procedures between businesses and their consumers.

Real-time processing has the potential to completely revolutionise the client experience. With third-party integrations, today’s lending systems can support eKYC, e-sign, and digital locker to submit documents online, provide easy access to credit scores from credit bureaus, verify documents in real-time, detect fraud, and integrate with payment gateways to enable faster decision making and disbursal.

3. Mobility

Due to the need of today’s smartphone users, NBFC’s have entered the race to go mobile. They were able to optimise their operations and minimise their total turnaround time by utilising the ground-breaking capabilities of smartphones.

NBFCs may now provide information, services, and apps for consumption on smartphones and tablets, with the help of experienced managers who can quickly enable financial institutions to make web and mobile field level adjustments.

4. Offers What Customer Really Wants

You must proactively provide them with a suitable product or service in order to win their heart and pocketbook. A CRM system informs you about your clients’ needs by letting you know what items or services they’re interested in, have requested, or have previously purchased. You also know what difficulties they’ve had in the past and whether or not they were satisfied with the answers you provided.

In other words, having a record of your customer interactions in a CRM system allows you to provide your customers with what they truly want, rather than what you believe they want.

5. Personal Relationships Development

For any firm, developing a one-on-one connection with a consumer may pay off handsomely in the long run. Personalizing the client experience is one approach to do this. A client nowadays interacts with your website via a variety of channels, including email, social media, your website, and text messaging. Similarly, departments like marketing, sales, and customer service may all play a role in this connection.

A CRM system can save all of this data, and you can use it to learn more about a client throughout a conversation. You may now get a complete picture of what your customer is going through from the moment they walk in the door to the moment they leave. You may provide your customers with a one-of-a-kind experience by using this information.

You may provide your consumer a unique experience by calling them by their first name or being proactive and displaying urgency in fixing their concerns as soon as feasible using this information. Personalizing your client experience builds a favorable impression of your organization in the minds of your customers.


As we enter a new era, it will become increasingly vital for NBFCs throughout the world to get the consumer experience right. NBFC who can effectively thread that needle in the face of altering customer expectations, increasing capabilities, and market conditions will likely continue to succeed.

With the help of mobile CRM Toolyt, you can achieve what you have set in mind. Whether it’s reducing your TAT or lead management allocation, Toolyt mobile CRM can be your sales rep’s best personal assistant.

Moreover, with the expertise in managing one of the biggest NBFCs in India, Toolyt has all the use-cases to solve your problems.

So what are you waiting for?
Schedule a demo now!

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