CRM Technology & Data Management Flashcards

Which CRM feature allows managers to track which clients haven't been contacted within a defined period?

Answer: Activity monitoring / contact frequency alerts

Activity monitoring features flag clients who are overdue for contact, helping CRM professionals maintain consistent touchpoint frequencies.

'Segmentation' within a CRM platform enables a relationship manager to:

Answer: Group clients by shared characteristics (wealth tier, product usage, risk profile) for targeted outreach

Segmentation allows CRM users to filter and group the client base for targeted communications, service differentiation, and efficient resource allocation.

A 'single customer view' (SCV) in CRM means:

Answer: A consolidated, unified record of all client data, interactions, and holdings across all products and channels

SCV aggregates all information about a client from every system and channel into one comprehensive record, eliminating data silos.

Data governance in financial CRM primarily ensures that:

Answer: Client data is accurate, consistent, secure, and used in compliance with regulatory requirements

Data governance frameworks define policies for data quality, access controls, retention schedules, and compliance to protect both clients and the firm.

Which technology automates repetitive CRM tasks like sending follow-up emails, scheduling reminders, and updating client status fields?

Answer: Workflow automation / CRM automation rules

CRM automation rules trigger predefined actions based on events or conditions, freeing relationship managers to focus on high-value, personalized interactions.

When evaluating CRM data for cross-sell opportunities, a relationship manager should FIRST consider:

Answer: Whether the product or service meets the client's documented needs and risk profile

Suitability must come before profitability—any cross-sell opportunity must be evaluated against the client's needs, goals, and risk tolerance.