The Banking industry faces significant challenges in an increasingly changing environment. As banking products is increasingly becoming commodities, E-Business is becoming necessary core capability. E-Business knowledge and technology is becoming the key to competitive marketing, distribution and customer service functions and all areas of operational and strategic practice, in the Banking industry.
The objective of this study is to determine the CRM applications and how it facilitates through E-Technology. It will tell the various factors that should be there in mind before going online, and the key areas where bank can put the efforts and get the advantage of E-Technology to build customer relation. .
ACKNOWLEDGEMENT.
I would like to extend my sincere thanks to Prof. Anshul Dhingra for giving me such an excellent opportunity to do a project on CRM technology in banking sector.
Besides it I would also like to thank the staff of library and computer lab for providing help whenever required.
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CRM TECHNOLOGY IN BANKING.
The Internet is providing a more effective way to connect and collaborate with customers. Due to the Internet, customers have become more empowered and are now participating directly in the marketing process. They are contributing their expertise, time and resources in marketing exchanges, a concept known as collaborative marketing. Collaborative marketing aims at making customers an integral part of an organization's marketing activities and maximization of mutual benefits. .
The key term in CRM is relationship. It's the ability of the company to maintain a healthy relationship with the customer by keeping the level of interaction the enterprise and its customer at high standards. The goals of CRM are to:.
1. Win the mind of customer.
2. Increase the profits.
3. Reduce the churn.
These can be achieved only by implementing a good CRM technique, which will reduce costs and attain growth. .
The application of CRM include:.
