In this day and age, customers are regarded as an article of trade. Deposit accounts the importance of deposits for the bank, its customers and the. Learn why adopting a crm for business banking is critical to providing. But now with the usage of crm software from companies like sap, siebel, oracle, amdocs and others. 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. It is important to bridge these divisions both from the bank s perspective. Customer relationship management in banking sector by anuj singh swati sharma flow of presentation. With all thats expected of banks, a customer relationship management.
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. Impact of customer relationship management on customer satisfaction. Service industry has been the forerunners in implementing crm practices 2. 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. Original research article customer relationship management in banking sector dr. 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. 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 with customers. Material and methods to fulfill the research objective, descriptive research design was adopted as it was found suitable for the study. Customer relationship management crm in the banking sector of. Pdf customer relationship management in banking sector. Customer relationship management crm in the banking. But for proper knowledge the adoption process hampers to a great extent. Similarly customer base is also growing with leaps and bounds. Customer relationship management and banking sector market share performance. 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 can help organizations to manage customer interactions more effectively to maintain competitiveness in the present. A greater focus on customer relationship management crm is the only way the banking industry can protect its market share and boost growth. Optimizing banking operations with comprehensive content management objectives solution benefits quick facts. Customer relationship management concept is tendency of banking sector to establish and maintain longterm relationships with customers in order to provide. Customer relationship management in banking sector.
This paper studies about the role of crm in banking sector and the customer perception about crm. Banks play a vital role in the socioeconomic development of our country. Management in banking sector and the need for customer relationship management to. The paper analyses the nature of the banking industry and the role of technology in the cus tomer relationship management process and its implementation. Customer relationship management in banking sector 1. This demands for better relationship management through ecrm by the banking. Stress and employee performance in banking sector evidence. 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 management and its potential to help them acquire new customers retain existing ones and maximizetheir lifetime value. Customer relationship management and banking sector. 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. Particularly in banking sector, the role of crm is very vital in leading the banks towards high level and volume of profits. Recently in bangladesh many banks are emphasizing on the issue.
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. Pdf customer satisfaction trends in banking industry a. Banks offer several facilities to enhance the standard of living of our citizens. Crm in banking sector with special reference to new age. Optimizing banking operations with comprehensive content.
Customer relationship marketing or management crm is an inevitable practice in the banking sector in foreign countries. To retain high net worth individuals, banks should focus strongly on relationship management. Customer relationship management crm includes the methodologies, technology and capabilities that help an enterprise manage customer relationships. Customer relationship management in banking sector an empirical study with reference to banks in thiruvannamalai district, tamil nadu a read is counted each time someone views a publication summary such as the title, abstract, and list of authors, clicks on a figure, or views or downloads the fulltext. 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. 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. 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. Customer relationship management in banking sector aims. Customer relationship management in the banking sector. With the growth of service marketing, customer relationship management. The aim of this research is to investigate the relationship that exists between service innovation and customer satisfaction in the banking sector. In the banking sector in india, new age private banks like icici bank, hdfc bank, axis bank. Customer relationship management crm, banking industry.
Customer relationship management, relationship marketing, online banking, service marketing, customer satisfaction. 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. An introduction the emergence of services organizations in the corporate sector, the growing competition due to liberalization, and the. A questionnaire was designed to collect the data and find out the most important aspect of customer retention in banking industry. Management theory and practice proceedings of the 12th international business information management.
In creating global economies through innovation and knowledge. 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. Customer relationship management is the integration of these two cornerstones of indian banking viz. In this paper, the author has discussed that ecustomer relationship management in the indian banking sector. 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.
Operation management in banking banking operations processes and transactions are executed correctly, which minimizing risk and maximizing quality of service. Comprising scheduled banks, private banks and mnc banks. Project report on crm in banking by sanjay gupta issuu. Banking is a customer oriented service industry and customer satisfaction has become the most important aspect of any banking business due to immense competition. 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. Lokesh jindal1 1 associate professor, maims, rohini, delhi. Banking law is based on a contractual analysis of the relationship between the bank. Customer relationship management crm in the banking sector competition and globalization of banking services are forcing banks to be productive and profitable. Customer relationship management crm, banks, customers introduction within the. Customer relationship management in banking sector and a. 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 customers tend to have products and services from multiple product areas across a bank. 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, 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. Banking sector is a customeroriented servicewhere the customer is the key focus. 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. Customer relationship management and customer retention. 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. Enormous responsibility lies on the management of banking industry to keep the customers satisfied with the operations. Pdf customer relationship management in banking industry.
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