What are typical applications for BRMSs in financial services?
BRMSs provide business gains in financial services functions ranging from credit origination, marketing, accounting and core banking systems such as payment gateways. Customer relationship management (CRM) and point-of-sale (POS) enhancements are in high demand, due to current market conditions and increased scrutiny of business operations. You can expect higher customer acquisition rates through better customer experiences and highly compelling offers when you embed a BRMS into your CRM and POS systems. Complex functions, like creating unique bundles based on the best fit between a customer’s goals, preferences and risk profile are automated in real time. BRMSs improve customer service and increase up-sell and cross-sell revenues, boosting customer retention. Financial services companies, typically with high compliance requirements, frequently automate their applications for compliance mandates with BRMSs because of the higher consistency, transparency and auditability these systems p
