The Future of CRM in SMB's

While on vacation over 2000 miles away from home, Mrs. Jones walks into a branch of a bank that is affiliated with the one she uses at home. The teller greets her by name receiving information from the facial recognition system located at the door that identifies Mrs. Jones and automatically displays information about her accounts, recent financial transactions and purchases while on vacation, as well as personal information such as the names of the other members of her household, and her love for snorkeling and fine wines. The teller assists Mrs. Jones in acquiring some travelers' checks (which she receives for free since she is a premier customer at her home bank). The teller then offers information to Mrs. Jones on the local snorkeling hot spots and learns that Mrs. Jones is considering purchasing new gear on this trip. The teller then offers to extend Mrs. Jones' credit so that she may utilize her bank credit card for her vacation and equipment expenses. Pretty impressive, especially when one considers that the teller is, itself, a computer system!

Sound incredible? Fact is, everything in the above scenario is within reach today. All of the technology exists right now and some small and sized institutions are already beginning to implement parts of it. This is the promise of Customer Relationship Management (CRM).

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