Managing customer relationships and financial data in the Fintech industry requires a high degree of flexibility, personalization, and compliance. Fintech companies cater to a diverse range of customer needs—from investment management and financial planning to lending and compliance services—all of which involve detailed tracking and analysis. While HubSpot is renowned for its CRM capabilities, it often needs additional customization to meet the unique demands of the fintech sector. This is where HubSpot Custom Objects come into play.
Custom Objects in HubSpot allow companies to create new types of records beyond the standard options like contacts, companies, deals, and tickets. Custom Objects can represent any kind of data relevant to your business, allowing fintech companies to personalize customer journeys, streamline operations, and maintain regulatory compliance. In the fintech context, these objects can transform how companies interact with their clients, enabling detailed tracking and highly specific workflows for various financial products and services.
From investment portfolios to payment schedules, these custom objects enhance the CRM’s functionality and support fintech businesses in providing tailored, compliant, and efficient financial services. Each object type discussed below is optimized for specific fintech processes, helping companies increase efficiency, deepen customer engagement, and maintain a robust data structure.
Investment Portfolios
Use Case & Importance
For fintech companies focused on wealth management or investment services, managing and tracking client investment portfolios is crucial. Creating an Investment Portfolio custom object allows firms to keep detailed records of client assets, investment preferences, and historical performance. Having this information within HubSpot enables investment advisors to quickly analyze portfolios and provide personalized insights or recommendations based on current market trends.
Investment portfolio tracking also helps companies categorize clients by investment type, risk tolerance, and diversification, making it easier to offer custom-tailored products or advice. For instance, a client with a high risk tolerance and a portfolio heavy in stocks might benefit from timely alerts on high-growth opportunities, while a conservative client might appreciate updates on low-risk bonds or mutual funds.
Feature Breakdown
An Investment Portfolio object should include fields like:
- Asset Allocation: Breakdown of stocks, bonds, cash, and other asset classes
- Portfolio Value: Real-time updates on total portfolio value
- Risk Tolerance: Qualitative and quantitative risk assessments
- Historical Performance: Past performance data and time-weighted returns
- Investment Goals: Long-term, mid-term, and short-term goals
These fields allow for detailed insights, segmentation, and real-time reporting, making investment management seamless and insightful.
Benefits for Fintech
With an investment portfolio custom object, fintech companies gain:
- Enhanced Customer Understanding: Identify client preferences and risk tolerance quickly.
- Personalization at Scale: Segment clients based on investment type and create targeted recommendations.
- Deeper Insights for Advisors: Financial advisors can access in-depth client data in one place, enabling more informed conversations.
Implementation Tips
Creating workflows around investment portfolios can streamline operations. For instance:
- Portfolio Updates: Trigger automated notifications to clients when portfolio values cross certain thresholds or during major market shifts.
- Rebalancing Reminders: Set reminders for advisors to review portfolios periodically and recommend rebalancing if needed.
- Performance Dashboards: Design dashboards to monitor portfolio trends, enabling quick analysis of growth, risk levels, and diversification.
Advanced Reporting
By integrating portfolio data with custom reports, fintech companies can track performance metrics across client segments. These reports might include:
- Portfolio Performance Comparisons: Compare returns across different asset classes or risk levels.
- Client Risk Exposure: Analyze portfolio exposure to market risk factors and make adjustments based on risk levels.
Strategic Expansion
Fintech companies can also enhance this custom object by integrating third-party financial data or creating advanced workflows that send alerts for sudden market changes. Customizing data views with financial insights helps deliver a personalized, proactive investment management experience.
Financial Goals
Use Case & Importance
Clients often approach fintech companies with specific financial goals in mind—whether it’s saving for retirement, buying a home, or funding education. A Financial Goals custom object helps fintech firms align their services with the individual objectives of each client. By recording goals in the CRM, advisors and financial planners can offer recommendations that directly support these goals, leading to a more engaged and loyal client base.
Tracking these goals in HubSpot provides insights into a client’s financial priorities and allows firms to offer relevant financial products or advice that support goal achievement. It also empowers clients to track their progress, making them feel more involved and committed to reaching their financial milestones.
Detailed Fields
To create a comprehensive Financial Goals custom object, include fields such as:
- Goal Type: Type of goal, e.g., retirement, education, property purchase
- Target Amount: The amount the client wishes to save or invest
- Progress: Percentage progress toward the goal
- Expected Timeline: The anticipated timeline for goal achievement
- Funding Strategy: Method(s) for funding the goal, such as savings, investments, or loans
Benefits
With a Financial Goals custom object, fintech companies can:
- Provide Goal-Specific Recommendations: Offer tailored advice, products, or services that directly align with each client’s financial goals.
- Enhance Client Engagement: Automated progress updates or milestone celebrations help keep clients motivated.
- Improve Retention: Building trust and transparency around financial planning strengthens client relationships and loyalty.
Automated Campaigns
Setting up email workflows can enhance engagement. Examples include:
- Progress Updates: Monthly or quarterly updates on the client’s progress toward their goal.
- Educational Content: Send articles or resources on achieving specific financial goals.
- Milestone Celebrations: Automated congratulatory emails when clients reach 25%, 50%, or 100% of their goals.
Segmentation Strategy
Segmenting by goal type allows fintech companies to personalize communications, creating highly relevant marketing campaigns. For instance, clients saving for retirement can receive information on long-term investments, while those aiming to buy property can get insights on mortgage options or saving plans.
Customer Retention Tips
Using Financial Goals as a basis, companies can incorporate customer-centric retention strategies. Examples include:
- Quarterly Check-Ins: Advisors can reach out personally to discuss progress or changes in strategy.
- Rewards for Milestones: Offering small rewards or incentives when clients achieve significant progress can reinforce their commitment to long-term goals.
Compliance Records
Use Case & Importance
In the highly regulated fintech industry, maintaining compliance is essential but often complex. A Compliance Records custom object simplifies this by consolidating compliance documentation and tracking for each client. With fields for KYC (Know Your Customer), AML (Anti-Money Laundering), and other regulatory requirements, fintech companies can streamline their compliance processes and ensure no client falls out of regulatory alignment.
Tracking compliance within HubSpot not only mitigates risks but also optimizes operations by consolidating compliance data in a single, accessible location.
Detailed Fields
A comprehensive Compliance Records object includes fields for:
- Compliance Type: KYC, AML, GDPR, or other relevant regulations
- Review Frequency: Defines how often the compliance records should be reviewed (monthly, quarterly, annually)
- Risk Score: Indicates the client’s risk level based on compliance checks
- Document Status: Status of key compliance documents (pending, approved, expired)
- Audit Trail: Log of compliance actions taken, including date and responsible personnel
Benefits
With a Compliance Records custom object, fintech companies can:
- Streamline Document Management: All compliance documents are stored and managed in one place.
- Reduce Risk: Automated reminders help ensure timely reviews and renewals.
- Facilitate Audits: A structured audit trail helps respond quickly to regulatory audits or queries.
Automated Notifications
Compliance objects can trigger reminders and notifications for:
- Renewal Reminders: Notify the client or compliance team before document expiry.
- Risk Alerts: Set alerts for clients who exhibit high-risk behaviors, such as high transaction volumes or unusual patterns.
- Regulatory Updates: Automatic alerts for regulatory changes that impact compliance requirements.
Dashboard Insights
Dashboards can display critical compliance insights, such as:
- Compliance Status Overview: Percentage of clients with updated compliance records.
- Risk Level Distribution: Breakdown of clients by risk score, aiding in proactive risk management.
- Document Expiry Notifications: Summarized view of clients with upcoming document renewals or reviews.
Process Integration
Integrating compliance records with client-facing departments like customer support or legal improves internal coordination and response times for compliance-related inquiries.
Loan Accounts
Use Case & Importance
In fintech, managing loan accounts is fundamental for companies involved in lending services, whether it's personal loans, business financing, or mortgage solutions. A Loan Accounts custom object helps these companies track client loan details, monitor payment schedules, assess risk, and identify refinancing or cross-sell opportunities. By centralizing loan data within HubSpot, companies can efficiently manage client interactions, streamline loan-related processes, and gain insights into repayment patterns and default risks.
Tracking loan accounts in a CRM enables customer service teams, relationship managers, and credit officers to access loan data instantly, providing a seamless experience for clients and enabling proactive communication about payment schedules, overdue balances, or refinancing options.
Detailed Fields
A well-structured Loan Accounts custom object includes fields such as:
- Loan Amount: Total amount initially borrowed by the client
- Interest Rate: Interest rate applied to the loan
- Repayment Schedule: Frequency of payments (monthly, quarterly, etc.)
- Outstanding Balance: Remaining balance on the loan
- Payment History: Log of payments made, including missed or late payments
- Default Risk Score: Score indicating the likelihood of client default based on payment history and other factors
Benefits
Creating a Loan Accounts custom object provides fintech companies with:
- Visibility into Client Debt: A clear view of outstanding balances and payment history, essential for managing risk and planning collections strategies.
- Improved Client Communication: Automated workflows and reminders ensure clients are informed about upcoming payments or account status changes.
- Opportunity for Cross-Selling: Use loan data to identify suitable moments to suggest additional products, such as insurance, wealth management, or refinancing options.
Automated Workflows
To optimize loan management, automated workflows can be created for:
- Payment Reminders: Automated emails to remind clients about upcoming payment dates, with links to online payment options.
- Missed Payment Alerts: Notifications to account managers or clients after a payment is missed, prompting follow-up actions.
- Refinance Offers: Set up workflows to detect clients nearing loan end dates or those with improved credit scores and suggest refinancing offers.
Reporting & Analysis
Analyzing loan data through custom reports and dashboards provides invaluable insights into:
- Repayment Behavior: Track patterns in on-time versus delayed payments to predict default risk.
- Portfolio Risk Analysis: Monitor overall loan portfolio performance and identify trends or risks within certain segments.
- Upsell Opportunities: Use repayment history and outstanding balance data to identify clients who might benefit from other services or products.
Cross-Sell Strategies
Loan data in HubSpot is valuable for identifying potential cross-sell opportunities:
- Insurance Products: Offer life or property insurance options that align with the loan purpose.
- Wealth Management: Clients nearing the end of a loan term might be interested in financial planning or investment opportunities.
- Additional Financing Options: Based on payment history and credit behavior, companies can offer lines of credit or additional loan products.
Customer Retention Tips
Creating a personalized and proactive experience for loan clients fosters loyalty. Some strategies include:
- Loan Check-In Calls: Set reminders for account managers to periodically check in with clients and discuss repayment strategies or refinancing needs.
- Interest Rate Updates: Alert clients about changes in interest rates and offer options for refinancing if rates are favorable.
- Incentives for On-Time Payments: Small rewards for clients with consistent, on-time payments can improve loyalty and payment behavior.
Payment Schedules
Use Case & Importance
For fintech companies that offer subscription-based or recurring billing services, managing payment schedules is critical to ensuring smooth cash flow and maintaining customer satisfaction. The Payment Schedules custom object is designed to store recurring payment details, automate billing reminders, track overdue invoices, and handle failed payments. This object simplifies the billing process and creates a more transparent customer experience.
Fintech companies that manage credit cards, installment plans, or digital wallets can use this custom object to streamline payment processing, reduce billing errors, and ensure that clients are consistently informed about their billing status.
Detailed Fields
The Payment Schedules custom object should include fields such as:
- Billing Frequency: Monthly, quarterly, annually, or custom intervals
- Payment Amount: The amount due at each billing cycle
- Payment Method: Details of payment type (credit card, ACH, digital wallet)
- Status: Tracks payment status (paid, overdue, failed)
- Next Payment Date: Indicates the next scheduled payment date
- Failed Payment Attempts: Number of attempts made to collect payment
Benefits
The benefits of using a Payment Schedules custom object include:
- Billing Accuracy: Ensures that clients are billed consistently, reducing the chance of errors or missed payments.
- Enhanced Customer Service: With visibility into payment schedules, customer service teams can quickly resolve billing inquiries.
- Timely Reminders: Automated workflows can remind clients about upcoming payments, reducing late payments and enhancing customer satisfaction.
Automated Workflows
Payment Schedule workflows streamline the entire billing cycle. For example:
- Upcoming Payment Reminders: Email reminders are sent out days before a payment is due, providing clients with timely information.
- Failed Payment Alerts: When a payment fails, both the client and account manager are notified, allowing for immediate follow-up.
- Status Updates: Clients receive notifications when payments are successfully processed, ensuring transparency and trust.
Customer Retention Tips
Automating billing processes with Payment Schedules not only reduces churn but also builds customer loyalty through effective communication. Retention strategies include:
- Discounts for Early Payments: Offering small discounts or incentives for clients who make early or advance payments.
- Loyalty Rewards: Reward long-term clients with loyalty perks or small discounts after a certain number of payments.
- Proactive Customer Service: Reach out to clients with recurring payment issues to resolve concerns and strengthen the relationship.
Summary and Strategic Insights
By implementing a Payment Schedules custom object, fintech companies can ensure billing efficiency and create a smooth, customer-friendly experience. This object also provides a solid foundation for recurring revenue analytics, helping firms optimize cash flow, improve customer retention, and manage financial health with precision.
SaaS Says-
The fintech industry’s unique customer relationship needs demand a CRM system that goes beyond standard functionality, offering customizable, specialized data tracking. HubSpot Custom Objects serve this need by allowing fintech companies to create data structures and workflows that address specific financial services, regulatory requirements, and customer preferences.
Through examples like Investment Portfolios, Financial Goals, Compliance Records, Loan Accounts, and Payment Schedules, we’ve highlighted how these custom objects can revolutionize CRM for fintech companies. Each object empowers companies to offer a personalized and compliant client experience, improving customer loyalty and operational efficiency.
With Investment Portfolios, firms can monitor client investments and deliver timely, personalized advice. Financial Goals help companies align their offerings with clients’ aspirations, while Compliance Records streamline the complex regulatory landscape. Loan Accounts provide seamless debt management, and Payment Schedules automate billing, enhancing the overall customer experience.
HubSpot Custom Objects enable fintech firms to deepen relationships, stay compliant, and operate more efficiently—all while adapting to evolving client expectations. For fintech companies aiming to stay competitive, these customized CRM solutions are essential tools for long-term success.
As you consider implementing these custom objects, remember that HubSpot offers a flexible platform where fintech companies can align CRM tools with their unique needs, ensuring a seamless, scalable solution for managing client relationships in a dynamic financial landscape.
