Summary |
Customer relationship management (CRM) is fundamental to building a customer-centric organization. CRM system links together the customer data into single and logical customer repository. CRM in banking is a key element of differentiation that allows a bank to develop its customer base and sales capacity. The goal of CRM is to manage all aspects of customer maximize profitability from every customer.
By using knowledge of the customer, banks can turn customer relationship into a key competitive advantage. Banks can develop customer relationships across a broad spectrum of touch points branches, kiosks, ATMs, internet, electronic banking. The full integration of these systems, their associated business processes, and the methods for which information is extracted and used, forms the basis for CRM.
This book examines issues related to changing banking industry and the challenges in customer relationship management (CRM). The book should appeal to the students of economics, commerce and business management. It would also serve the purpose of banking executives, researchers and others interested in understanding CRM in Indian banking industry.
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