CRM PRACTICES – A SUCCESSFUL MANAGEMENT TOOL FOR E-BANKING

Abstract

The core objective of modern CRM methodology is to help businesses to use technology and human resources to gain a better view of customer behavior. With this, a business can hope to achieve better customer service, make call centres more efficient, cross-sell products more effectively, simplify marketing and sales processes, identify new customers and increase customer revenues. Due to increasing competition in retail banking, understanding the customer perception about service quality is becoming indispensible. The private sector Banks are posing a very stiff competition to the public sector banks through their initiatives for meeting customer expectations and gaining a cutting edge. This is reflected by the increasing market share and better profitability of private Banks in comparison to that of the public sector Banks. At the same time public sector banks have also responded to the Challenges posed by the private sector Banks through conscious efforts to enhance their service. Though there are enough literature on CRM in banking sector very little effort is made to understand and analyse the role of technology in maintaining and enhancing the CRM activities of the banks. E-Business being the need of the hour so is e-Banking there are certain areas where we still feel that there cannot be a replacement for the man hours in the place of machine. This study focus on “ CRM practices in public sector banks in e-Banking Perspective”.