CRM Product Allows Financial Firms to Upsell Services

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Point Information Systems has debuted a customer relationship management solution that allows the financial industry to cross-sell and upsell products and services.

The e-CRM product, e-Point Financial Services, allows customer service agents to leverage a customer's past interactions with the financial company via a customer's personalized Web portal to make targeted offers. Customers, too, can access that data online.

While in a customer's account, an alert in the form of a pop-up window notifies the service agent when there is a good cross-sell or upsell opportunity.

The product also is touted as a way to help banks with their retention efforts. Customer service agents are notified when a customer is withdrawing large or unusual amounts of money, enabling the company to begin efforts to avoid defections.

Marleen Wolfe, director of marketing at Point, Wellesley, MA, said the product offers different avenues of communication and proactive strategies for a bank to retain a customer. For instance, if a bank notices a pattern of unusual withdrawals and suspects that a customer is ready to leave, it can send e-mails or messages to his personal Web portal, depending on the customer's choice of communication, to encourage him to stay.

Finally, Wolfe said the product lets banks and financial institutions capitalize on their customers' transactions with competing companies. The product allows a bank to identify a customer's payments to another financial institution and make a competing offer, she said.

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