Picture of Felipe Gil Written by Felipe Gil
on July 26, 2023

Prisma’s marketing automation solutions have helped hundreds of financial institutions realize their true potential, and assisted them in creating personalized campaigns that speak to the heart of their audience. But our solutions go way beyond marketing. When implementing our solutions, our clients often find that automation tools help to elevate their FI in unexpected ways, and assist them even outside of a marketing context.

By applying the same principles, data, and tools used to tackle marketing challenges, financial institutions can use automation to solve problems in other departments, make more efficient use of existing technology, and make smarter decisions about future investments and strategy.

The Departmental Swiss Army Knife

Many FIs find that the problems they encounter on a day-to-day basis benefit from the implementation of some automation. Automation serves a clear purpose from a marketing perspective, but it can also help FIs perform necessary functions and communicate more effectively with their members.

For example, reminders about payments, due dates, and collections (while not fun to receive) are a necessary part of the operation of any FI. With the help of automation, these can be triggered automatically based on account parameters, and can help your members avoid racking up unnecessary charges. Automation can also be used to send out surveys and review requests when accounts trigger specific cues. A member that has recently been approved for a home loan may have valuable input for your organization, and their feedback can help you provide even better service to members in the future.

Marketing Automation is the Swiss Army Knife for Businesses

All of these functions also benefit from the accuracy and timeliness that automation offers. Relying on manual intervention can result in lapses, where members aren’t given the communication they need, or aren’t prompted to act in the appropriate time frame. When your members can rely on you to communicate promptly and clearly, it can help build trust and satisfaction with your business.

This ability to fulfill the diverse needs of different departments in FIs is part of what makes automation so essential, working in the background of your organization to increase the all-around efficiency of each aspect of the business.

Improving Existing Tech

FIs make massive investments to stay ahead of the technological curve, but that same technology can sometimes hamstring the business if it does not mesh with the rest of their stack. Automation can help by improving the efficiency and connectivity of technology within its ecosystem.

By integrating previously disparate technology and data sources, automation helps FIs decipher and make better use of all the complex data they gather. For example, the addition of automated data feeds can help FIs funnel important campaign data directly into CRM and other types of software without interruption, making them more effective without impacting their day-to-day function.

A well maintained, well connected tech stack can also help to prevent the dreaded data siloing and the duplication of information in different tools, both of which are essential to the overall performance of the FI. Automation tools essentially help your technology stay well oiled and topped up with fuel, ready to perform at maximum output.

Expanding the Value of Data

Data itself can also become more useful with the use of automation tools. Without automation, analyzing and processing raw data can become a headache. The amount of time and energy required to turn it into usable information can be prohibitive, especially for smaller FIs. But with the help of automated tools, data can become those same small organizations’ best friend.

Think of a small credit union, maybe one that is trying to expand participation in an auto loan program. With the help of automated tools, they could use data conditions to automatically segment their audience into potential candidates, which could then feed into personalizing communications with those same members, resulting in a higher participation rate. Automation helps data flow from one channel to another in real time, allowing FIs to make smarter decisions about their resource allocation.

This connection between the sources and destinations of data within an organization can vastly improve their overall effectiveness. Not only does it ensure that the data is channeled to where it is most useful, it also limits the legwork needed to make that happen, so that the organization can make the best use of their human resources rather than relegating them to data analysis and management.

Is Automation the Answer for Your FI?

Prisma Campaigns specializes in helping FIs achieve their diverse needs with comprehensive marketing automation solutions and personalized campaigns. If your business needs a boost, schedule a demo with us and see just how much of a difference Prisma can make.




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