How to Build a 360-Degree View of Each Customer at Your Bank

Each customer who walks into your bank has a unique story.

Mr. Perkins has been banking with you for his entire adult life. Mrs. Jones is a relatively new customer, who recently switched over her personal checking and several business accounts. And, no one could forget about Mr. Antonelli, one of the most important (and eccentric) people in your community. He’s founded and sold several successful ventures, each time seeking your institution’s help in closing the deal.

Yes, your bank sure serves a lot of interesting and dynamic people.

With an ever-expanding portfolio of customers and accounts, it’s becoming increasingly difficult to keep everything organized. You want to maintain current growth trajectories, but you also want to stay in touch with each customer’s story. After all, it’s those stories that fuel the demand for your institution’s services.

In this post, we’ll discuss how a bank customer management software (like AccuAccount) can help you build a 360-degree view of each customer.

Start with a Centralized View of the Customer

Deposit accounts, trust documents, commercial lines of credit, loan applications – what’s the common thread? That’s right, they all relate back to specific customers.

If you’re using paper documents, manual ticklers, and a disintegrated core system, gaining a centralized view of each customer’s interaction with your bank can be difficult (if not impossible). Jumping between your core’s clunky reporting dashboard and your records room is a process barely worth attempting. In many cases, you may even find incomplete or missing customer information, further compounding the complexity of the task.

Compare this approach to using AccuAccount, an integrated bank document and exception management system, which is trusted by more than 14,000 community bankers worldwide. AccuAccount pulls in data from your core, loan origination system, mortgage system, research apps, and dozens of other platforms, building a 360-degree view of each customer. Instead of trying to manually piecemeal together customer information, AccuAccount does the difficult work for you. Simply type in the customer’s name or account number into AccuAccount, and voila!

Search for Bank Documents

You’ll then have instant access to the customer’s summary page, which centralizes everything you need to know about the customer, including:

  • Contact information
  • Credit classification
  • Loan balances and commitments
  • Account, tax, and customer numbers
  • Credit documents, exceptions, entities, and related notes
  • Linked accounts (loans, deposits, trusts) and related documents
  • …and pretty much everything else you would need

AccuAccount even “looks like” a traditional loan file, which your lending team will surely appreciate.

AccuAccount Preview

Leveraging the 360-Degree View into New Opportunities

With a tool like AccuAccount, you’re able to start with the customer’s profile and drill down from there (as opposed to working backwards). This makes it easier for staff to find important customer information, but it also helps them to provide a more customized banking experience.

For example, let’s imagine that good old Mr. Antonelli calls your branch’s general 800 number (he keeps losing the direct extensions that you’ve provided countless times before). As fate would have it, Mr. Antonelli’s phone call was answered by a recently hired staff member (we’ll call him Cooper), who knows very little about banking – even less about specific customers. As scary as this situation seems – both for your institution and for Cooper individually – AccuAccount is here to help. The conversation goes something like this:

Mr. Antonelli: “Hi there, I just need a quick answer. I received a notice letter stating that you need updated financials from me. I thought I already sent those in.”

Cooper: “Sure thing, Mr. Antonelli. Just give me a sec to look up your account information.”

Cooper quickly pops open the AccuAccount search page and begins typing “Anton…”. Mr. Antonelli’s customer page appears, which frankly makes Cooper a little nervous – especially after he sees all the zeros in Mr. Antonelli’s loan commitment. Trying to sound brave, Cooper continues:

Cooper: “OK Mr. Antonelli, I have your information pulled up here. I can see that we did send out a notification last week. Based on the information in your account, it looks like we still haven’t received financials for 2016, however, we do have 2015 and prior years on file.”

Nice going Cooper. Let’s see what Mr. Antonelli says about that.

Mr. Antonelli: “Aha, that must be the issue. I knew that we had sent financials to you in the past, but we must have just forgotten about 2016. I’ll have my administrative assistant get that over to you ASAP.”

Now, it’s time for Cooper to really look smart.

Cooper: “OK, that’s great Mr. Antonelli. We really appreciate your attention on this matter. On a different note, I can see that you’ve worked with Sally Robertson from our lending team in the past. She just finished up with another client and is free – is there anything that you need to discuss with her while we’ve got you on the phone?”

Nice touch, Cooper.

Mr. Antonelli: “Yes, thanks Cooper. I’ve been meaning to talk with Sally about this new pet project I’m working on. Go ahead and transfer me over if you don’t mind.”

And, just like that, Mr. Antonelli (with the help of Cooper and AccuAccount) turned a 2-minute conversation into another great opportunity for your financial institution.

Start Building Your 360-Degree View of Each Customer

Are you tired of your institution’s current approach to customer information management? It’s time you gave AccuAccount a try. For over a decade, community banks have trusted our software to manage millions of customer records and related accounts.

Learn more about AccuAccount’s affordable plans today.

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