PUBLISHER: The Business Research Company | PRODUCT CODE: 1849194
PUBLISHER: The Business Research Company | PRODUCT CODE: 1849194
Banking customer relationship management (CRM) software is a specialized system designed to assist financial institutions in managing their interactions with both current and potential customers. This software helps banks streamline and enhance customer service, improve customer retention, and boost sales growth by centralizing and analyzing customer data.
The main offerings of banking CRM software include solutions and services. Banking CRM software solutions are comprehensive sets of tools and applications specifically designed for financial institutions to handle customer relationships. These solutions can be deployed either on-premises or in the cloud. They are used in various applications, including customer service, customer experience management, CRM analytics, marketing automation, salesforce automation, and more.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the ensuing trade tensions in spring 2025 are having a significant impact on the information technology sector, especially in hardware manufacturing, data infrastructure, and software deployment. Increased duties on imported semiconductors, circuit boards, and networking equipment have driven up production and operating costs for tech companies, cloud service providers, and data centers. Firms that depend on globally sourced components for laptops, servers, and consumer electronics are grappling with extended lead times and mounting pricing pressures. At the same time, tariffs on specialized software and retaliatory actions by key international markets have disrupted global IT supply chains and dampened foreign demand for U.S.-made technologies. In response, the sector is ramping up investments in domestic chip production, broadening its supplier network, and leveraging AI-powered automation to improve resilience and manage costs more effectively.
The banking customer relationship management (CRM) software market research report is one of a series of new reports from The Business Research Company that provides banking customer relationship management (CRM) software market statistics, including banking customer relationship management (CRM) software industry global market size, regional shares, competitors with a banking customer relationship management (CRM) software market share, detailed banking customer relationship management (CRM) software market segments, market trends, and opportunities, and any further data you may need to thrive in the banking customer relationship management (CRM) software industry. This banking customer relationship management (CRM) software research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The banking customer relationship management (crm) software market size has grown rapidly in recent years. It will grow from $15.4 billion in 2024 to $18.07 billion in 2025 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to increasing demand for self-service banking, increasing demand for automated customer insights software, increasing demand for cloud solutions, increasing demand by funding research and development initiatives, and rising desire for improved customer service.
The banking customer relationship management (crm) software market size is expected to see rapid growth in the next few years. It will grow to $34.3 billion in 2029 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to rising product demand from small and medium-sized businesses, growing, competitors in the customer relationship management (CRM) software industry, increasing use of internet banking, increasing digitalization of the banking sector, and rising popularity of mobile banking. Major trends in the forecast period include technology development, digital technology, innovative products, incorporating artificial intelligence (AI) and machine learning (ML), integration of advanced analytics and business intelligence (BI) tools, and use of blockchain technology in customer relationship management (CRM) systems.
The forecast of 17.4% growth over the next five years reflects a slight reduction of 0.2% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. Increased tariffs on cloud-based services and database management tools imported from countries like Ireland and Germany could raise costs for CRM deployment in the US banking sector, reducing service innovation. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The expansion of online banking services is anticipated to drive growth in the banking customer relationship management (CRM) software market. Online banking provides a convenient and efficient means for customers to manage their finances and conduct various banking transactions electronically through secure online platforms. The increasing prominence of online banking is attributed to its convenience, security, and easy access to a broad range of financial services. Banking CRM software is designed to manage and analyze customer interactions and data across digital channels, thereby enhancing customer service, personalizing experiences, and improving operational efficiency. For example, in July 2024, Worldmetrics, a UK-based organization, reported that online banking transactions totaled $9.8 billion in 2024 and are projected to grow to $161.6 billion by 2028. Thus, the rise in online banking services is propelling the growth of the banking CRM software market.
Leading companies in the banking CRM software market are incorporating artificial intelligence (AI) to enhance the efficiency of transaction dispute management. AI integration can significantly improve efficiency by automating the detection and resolution of disputes. AI algorithms analyze transaction data to identify patterns and anomalies, facilitating quicker and more accurate identification of fraudulent activities or errors. For instance, in June 2024, Salesforce, a US-based cloud computing company, introduced new AI-driven features aimed at boosting transaction dispute management efficiency for banks. These features include AI-powered Transaction Dispute Management, which streamlines the dispute resolution process from initiation to conclusion, and Einstein Copilot Banking Actions, an AI assistant that automates tasks and enhances communication with customers and stakeholders. These tools integrate banking transaction data with Salesforce customer information, reducing manual tasks and errors while improving customer interactions.
In July 2024, Infor, a US-based provider of enterprise software solutions, acquired Acumen for an undisclosed amount. This acquisition is intended to enhance Infor's offerings in innovative enterprise software solutions, supporting digital transformation across various industries. Acumen is a US-based company specializing in banking CRM software.
Major companies operating in the banking customer relationship management (CRM) software market are Microsoft Corporation, Oracle Corporation, Salesforce Inc., Fiserv Inc., Infor Global Solutions, Sage Group, Genesys Cloud Services Inc., HubSpot Inc., Zoho Corporation, Pegasystems Inc., Temenos AG, Acidaes Solutions Private Limited (CRMNEXT), Creatio, SAP SE, Doxim Inc., SugarCRM Inc., Kapture CX, NexJ Systems Inc., Leadsquared Inc., Claritysoft LLC, Liferay Inc.
North America was the largest region in the banking customer relationship management (CRM) software market in 2024. The regions covered in the banking customer relationship management (CRM) software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the banking customer relationship management (CRM) software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The banking customer relationship management (CRM) software market includes revenues earned by entities by providing customer data management, sales management, customer service and support, and integration capabilities. The market value includes the value of related goods sold by the service provider or included within the service offering. The banking CRM software market also consists of sales of financial CRM, social CRM, and mobile CRM. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Banking Customer Relationship Management (CRM) Software Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on banking customer relationship management (crm) software market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for banking customer relationship management (crm) software ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The banking customer relationship management (crm) software market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.