Customer relationship management crm, banking industry. Customer relationship management and banking sector market share performance. Pdf customer satisfaction trends in banking industry a. Customer relationship management, relationship marketing, online banking, service marketing, customer satisfaction.
Customer relationship management in banking sector and a. Impact of customer relationship management on customer satisfaction. Banks play a vital role in the socioeconomic development of our country. In creating global economies through innovation and knowledge. An introduction the emergence of services organizations in the corporate sector, the growing competition due to liberalization, and the. It has a potential to bring about dynamic changes in marketing practices of banks in near future, with the objective of business growth through managing customers as assets. Crm would also make indian bankers realize that the purpose of their business is to create and keep a customer and to view the entire business process. Customer relationship management crm includes the methodologies, technology and capabilities that help an enterprise manage customer relationships.
It has a potential to bring about dynamic changes in marketing practices of banks in near future, with the objective of business growth through managing. Customer relationship management crm, banks, customers introduction within the. At this point, close relationship with customers will require a strong coordination between it and marketing departments to provide a longterm retention of selected customers. The use of customer relationship management crm in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by banks in todays competitive milieu.
Similarly customer base is also growing with leaps and bounds. This demands for better relationship management through ecrm by the banking. In this day and age, customers are regarded as an article of trade. Project report on crm in banking by sanjay gupta issuu. With all thats expected of banks, a customer relationship management. Operation management in banking banking operations processes and transactions are executed correctly, which minimizing risk and maximizing quality of service. Abstract customer relationship management concept is tendency of banking sector to establish and maintain longterm relationships with customers in order to provide value for customers and banks. In banking sector particularly higher management doesnt realize the impact of stress on employee performance which ultimately results in critical managerial dilemmas as subha and shakeel 2009. In this context, the subject of the paper is the identification of the characteristics of the modern approach to customer relationship management and factors that influence its successful. Customer relationship management in banking sector aims.
Customer relationship management is the integration of these two cornerstones of indian banking viz. The present study is a comparative and analytical one through the perceptions of the customers of the indian nationalized banks. A case study of kenya commercial bank lucy atieno owano, dr ondiek alala, dr doouglas musiega abstract. Customer relationship management crm in the banking. A case for enterprise data management in banking 7 the way we see it customer relationship management crm initiatives drive to effectively manage customer interactions, and in the process. Optimizing banking operations with comprehensive content management objectives solution benefits quick facts. A banking system also referred as a system provided by the bank which offers cash management services for customers, reporting the transactions of their accounts and. To retain high net worth individuals, banks should focus strongly on relationship management with customers. Customer relationship management and customer retention. The learning objectives and associated content covered by this programme warrants that specialized career development skills and work related intelligence required by frontline sales and customer relationship management. Customer relationship management crm in the banking sector of. Customer relationship management in the banking sector. Customer relationship management crm would also make indian bankers realize that the purpose of their business is to create and keep a customer and to view the entire business process as. Relationship between customer service innovation and.
This paper deals with the role of customer relationship management in banking sector and the need for customer relationship management. Objectives of the study i to examine customer care strategies used by sheraton hotel ii to establish the customer care service level at sheraton hotel iii to examine the relationship. A core function of operations is to control and manage the processing of trades made by the various other divisions of the bank. To retain high net worth individuals, banks should focus strongly on relationship management. As the study is done in the banks of two different countries, the results may be generalized in the banking sector of service industry. Customer relationship marketing or management crm is an inevitable practice in the banking sector in foreign countries. Learn why adopting a crm for business banking is critical to providing. In the banking sector in india, new age private banks like icici bank, hdfc bank, axis bank. Customer relationship management crm in the banking sector competition and globalization of banking services are forcing banks to be productive and profitable. So there is a need to study the role of crm in development and promotion of banking sector through the sidelines of the practices, problems and impact of the crm on banking sector all the time. Comprising scheduled banks, private banks and mnc banks.
Banking sector is a customeroriented servicewhere the customer is the key focus. Management in banking sector and the need for customer relationship management to. Customer relationship management and banking sector. The aim of this research is to investigate the relationship that exists between service innovation and customer satisfaction in the banking sector. But now with the usage of crm software from companies like sap, siebel, oracle, amdocs and others. Customer relationship management, particularly on hotel chain level, is very challenging but also very important, as the hospitality industry deals with perishable goods and needs to manage supply and. Customer relationship management in banking sector by anuj singh swati sharma flow of presentation. Banks offer several facilities to enhance the standard of living of our citizens. In this paper, the author has discussed that ecustomer relationship management in the indian banking sector.
With the growth of service marketing, customer relationship management. Original research article customer relationship management in banking sector dr. Customer relationship management in banking sector 1. Service industry has been the forerunners in implementing crm practices 2. Customer relationship management in banking sector. Enormous responsibility lies on the management of banking industry to keep the customers satisfied with the operations. Customer relationship management concept is tendency of banking sector to establish and maintain longterm relationships with customers in order to provide. A greater focus on customer relationship management crm is the only way the banking industry can protect its market share and boost growth. A questionnaire was designed to collect the data and find out the most important aspect of customer retention in banking industry. Lokesh jindal1 1 associate professor, maims, rohini, delhi. Customer relationship management customers tend to have products and services from multiple product areas across a bank. Crm in banking sector with special reference to new age.
Stress and employee performance in banking sector evidence. Particularly in banking sector, the role of crm is very vital in leading the banks towards high level and volume of profits. So there is a need to study the role of crm in development and promotion of banking sector through the sidelines of the practices, problems and impact of the crm on banking sector. But for proper knowledge the adoption process hampers to a great extent. Pdf customer relationship management in banking sector. Pdf customer relationship management in banking industry. Recently in bangladesh many banks are emphasizing on the issue. Optimizing banking operations with comprehensive content. Banking is a customer oriented service industry and customer satisfaction has become the most important aspect of any banking business due to immense competition. Banking law is based on a contractual analysis of the relationship between the bank. Customer relationship management and its potential to help them acquire new customers retain existing ones and maximizetheir lifetime value.
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