A majority of small and mid-sized financial institutions aren’t getting the biggest bang for their customer relationship management and marketing customer information file buck, according to a new survey from SEDONA Corp.

The results revealed that more than three-quarters (76 percent) of community banks and credit unions are not employing all of the components of their CRM or MCIF systems. In addition, nearly two-thirds (62 percent) of financial institutions did not have their CRM or MCIF systems networked within the organization, resulting in a limited number of users and decreased opportunity for integration into more than one department. The primary roadblock to full-system utilization is a lack of trained resources, resulting in nearly 40 percent of financial institutions stating that they are interested in outsourcing select CRM or MCIF functions.

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