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Corporate & Commercial Banking
Maximizing the value of existing customers makes good business sense. These customers already know and trust the firm and there is a wealth of client information in company systems that can help identify new opportunities. It is far more cost effective to sell to existing customers than to find and bring new customers onboard.
Unfortunately, data silos across regions and lines of business, and regional data residency requirements make it difficult to share information across the enterprise. Existing customers therefore continue to be a largely untapped revenue source for many banks.
Therefore, to maximize the value of the existing customer base, leading financial services organizations are implementing integrated enterprise CRM solutions to manage cross-bank referral initiatives.