“Competition and globalisation of banking
services are forcing banks to be productive and profitable. To retain High Net
Worth individuals, banks should focus strongly on relationship management with
customers. Innovative Customer Relationship Management (CRM) strategies and
cutting edge software can help, to a great extent, in achieving the desired
results. To provide customised services, banks are opening Personalised
Boutiques which provide all the required financial needs of a customer”.
The entire service industry is now
metamorphosed to become customer- specific.
In this context, the management of customer relationship in financial services industry demands special focus. Gone are the days when customers at a bank did not mind the long serpentine queues and waited patiently for their turn with a token in their hand. In today’s Internet era, no one has the leisure to wait. In this context, online banking is assuming a great significance. Today, banking is more customer-centric, unlike the yester when it was transaction-centric. Banks are increasingly focusing on the premise that customers choose on the service provider who differentiates through quick and efficient service.
In this context, the management of customer relationship in financial services industry demands special focus. Gone are the days when customers at a bank did not mind the long serpentine queues and waited patiently for their turn with a token in their hand. In today’s Internet era, no one has the leisure to wait. In this context, online banking is assuming a great significance. Today, banking is more customer-centric, unlike the yester when it was transaction-centric. Banks are increasingly focusing on the premise that customers choose on the service provider who differentiates through quick and efficient service.
However, there is more to Customer Relationship
Management (CRM) than just managing customers and analysing their behaviours.
Banks are well aware that their success is predominantly dependent on the CRM
strategies adopted by them. Service providers have recognised that good CRM
bonds customers with the organisation for a longer term, resulting in increased
revenues.
With customers’ expectations becoming even more
competitive, banks are coming up with a wide array of novel products and
services every day. The challenge is for the banks to work towards ensuring
that customers prefer their products and services over that of competing
brands. The key to develop and nurture a close relationship with customers is
by appreciating their needs and preferences and catering to their requirements.
Leveraging on IT, to appropriately analyse and understand the needs of existing
customers better, to ensure customer satisfaction, and exploring the
possibility of cross-selling products to gain a competitive advantage are the
other issues drawing attention and interest.
Contents:
EXECUTIVE SUMMARY
INTRODUCTION
1.1- BANKING ON CRM
1.2- DEFINE CRM
1.3- STUDY OF BANKING SECTOR
2. BANKING
2.1- WHAT IS BANKING
2.2- KNOW YOUR CUSTOMER (KYC)
3. RELATIONSHIP MARKETING IN BANKS
3.1- CRM IN BANKING
3.2- WHAT DOES BANK NEED
3.3- HOW CRM HELP BANKS
3.4- CRM IN BUSINESS TRANSFORMATION
3.5- CRM IMPLEMENTATION IN INDIAN BANKS
4. SOCIAL CONCERNS
4.1-CONSUMER EXCLUSION & SOCIAL RES IN MARKETING
DECISIONS.
4.2- FIELD RESEARCH OBJECTIVES
4.3- METHODOLOGY
4.4- DEMOGRAPHICS OF SAMPLE
4.5- DATA ANALYSIS
4.6- FINDINGS
5. CRITICAL ISSUES AND TERMS
6. SWOT ANALYSIS OF RETAIL BANKS
7. RELATIONSHIP BANKING IN TROUBLEDTIMES
8. CRM IN FINANCIAL SERVICES SECTOR
8.1 DEFINING CRM
8.2 EVOLUTION OF CRM & CHALLENGES OF PERSONALIZED
E-SUPPORT
8.3 CUSTOMER SUPPORT
9. FINANCIAL &BANKING TECHNOLOGY
10. WHAT CUSTOMERS WANT TEN MYTHS ABOUT THE CUSTOMERS WHAT
CUSTOMERS WANT CUSTOMERS DIRECTIVES
11. BENEFITS OF IMPLEMENTING CRM WARNING & PITFALLS
PRINCIPLES OF SERVICES IN BANKING SUGGESTIONS
12. CONCLUSION
13. REFERENCES
