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In the evolving world of financial institutions a new concept has emerged known as Customer Interaction Management (CIM).CIM is the next level of Customer Relationship Management (CRM) and revolves around the need to improve customer communications and build long-lasting business to business and business to consumer relationships.

Using CIM, institutions are able to leverage the customer intelligence of CRM and extend its reach across additional customer-facing touch points. This has driven institutions to seek a real-time 360-degree view of the customer, to enhance communication and build client relationships to reduce attrition and foster organic growth.

As the market changes and institutions grow through either acquisitions or organically, it becomes harder to compete as everyone begins to make the same types of promises and deliver similar products.Organizations must ask themselves how their business can establish great communication that can be used to foster deeper relations with potential and existing clients.The differentiator becomes the institution's ability to keep its promises and quickly respond to, and anticipate, customer needs.
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