Regardless of the niche a business operates in, to excel in the industry, it needs to attract more customers and cultivate their loyalty. The same applies to brokerage; if a broker aims to succeed, they must foster a devoted base of traders and investors. And, to build this level of loyalty, brokerages must understand the expectations of their platform users and monitor their experiences. Customer Relationship Management (CRM) systems help brokerages maintain relationships with users and implement various strategies to enhance the trading experience. To explore this further, let’s take a closer look at the role of CRM for brokers.

Understanding Customer Relationship Management (CRM) for brokers

Basically, a Customer Relationship Management (CRM) system is software that helps businesses manage interactions with their customers. CRM for brokerage is advanced technology designed specifically to assist broker businesses. It allows brokers to keep complete track of clients’ information and performance, manage their accounts, and eventually improve their service.

What are the features of CRM for brokers

Here are the main features of CRM for trading platforms and their impact on brokerage operations:

Flexible Framework

The brokerage market is dynamic and to keep up with changing conditions, brokers need a flexible customer relationship management system that always remains relevant. A sophisticated CRM with modular infrastructure is modifiable and can be branded as per the brokerage’s needs. Brokers can easily add or remove its elements and functions without incurring additional costs or requiring extensive development time. Furthermore, brokerages can add more functionalities as they grow and cater to a larger customer base with diverse trading requirements.

Robust Admin Module

A CRM consists of a comprehensive admin module that provides all the required information accessible with a single tap. This panel offers complete control of client-related aspects such as affiliate program details, profile settings, and more. 

Intuitive user interface (UI)

A CRM, like any other piece of software, should be designed with a smooth user experience (UX) and an intuitive user interface (UI). As a result, both brokers and clients can easily access the information they require. The admin module’s dashboard should provide all sets of tasks the brokerage business needs to work on. Furthermore, the client module should provide access to commonly used functions such as account requests and confirmations.

Integrated Affiliate System 

A brokerage firm can team up with Introducing Brokers (IB) to increase its client base and grow its business. A CRM trading platform backed with an advanced affiliate system offers complete customization over commission schemes across multiple tiers. It supports the affiliate approach by offering a complete overview through analytics and reports to show the commission breakdown of IBs. Further, it assists in automating the commission payouts and even provides timely referral rewards. 

Smart Data Analytics

Brokerage CRM provides organized data and allows users to filter the required using advanced filtering options. Brokers can use such capability to monitor traders’ behaviors and improve their decision-making. 

Effortless Setup

Robust CRM for brokers such as Shark Technologies’ Shark CRM comes with market-leading functionality and easier setup. Thus, brokers can easily integrate the CRM into their existing platforms without any extra cost and effort. 

Client Support

Not just monitoring but directly communicating is also important to understand their concerns and ensure client satisfaction. To help with this, the CRM trading platform has an integrated customer support system to stay connected with clients. The whole system constitutes a ticketing system, live chat, notification, and more to address the issues, follow up on the conversations, and manage the pending tickets as well. This system’s automated chat support is enhanced with multilingual support for increased effectiveness. 

Compliance Management 

CRM is fitted with a compliance feature to automate the KYC (Know Your Customer) and AML (Anti-Money Laundering) verification. It ensures compliance with the multiple regulatory requirements and improves the client onboarding as well.

High Security

CRM not only maintains compliance to avoid regulatory issues but also protects the platform from security concerns. It is secured using anti-fraud whitelisting functions, advanced encryption, anti-DDos Mandatory SSL encryption, etc. 

The software even supports internal risk management and protects it from cyber threats. Moreover, it has audit logs to monitor all the changes and user permission settings to control user access. 

Functions Of CRM in Brokerage Industry

CRM is more than just a collection of data that brokers can access! It plays a significant role in the brokerage industry, serving as a tool to understand client behaviors and enhance transparency by streamlining communication. This solution enables brokers to build and strengthen relationships with traders and investors.

CRM operates by gathering data, tracking interactions, and providing insights to identify and manage opportunities. As a result, it helps brokers stay organized by managing all intricacies they can easily follow up on, thus offering better services. Furthermore, with advanced customizations, it can categorize clients based on risk tolerance, investment preferences, and more to enhance communication. Most importantly, a CRM system automates manual and repetitive tasks for the brokerage, improving efficiency and saving time.

Wrapping Up

The CRM trading platform for brokers is equipped with multiple features that help businesses ensure successful brokerage practices. In order to improve the functionality of these CRM systems even further, they are being integrated with technologies, such as artificial intelligence and machine learning, and more. We at Shark Technologies build CRM software for brokerages that aids in managing traders, IBs, commissions, and more in one workspace. Our Shark CRM has a feature-rich interface, supports affable programs, and is secured with all the latest safety protocols. Contact us to launch your brokerage with Shark Technologies infrastructure today.

Also Read : Automated Forex Trading Software Development – A Complete Guide