Today, for any organization or firm to survive in this competitive world depends on its ability to be dynamic and be different from the competition to be unique in the industry. Effect of electronic customer relationship management on. Sep 12, 2010 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. What is electronic customer relationship management ecrm. Customer relationship management in banking sectorwhat more needed. Icici bank the first bank to offer ebanking services in india. Role of ecrm in indian banks international journal of development. It is a wellstructured and coordinated process of crm that automates the processes in marketing, sales and customer service. Abstract the influence of customer relationship management crm on nigeria banking sector market share performance is the focus of this study. Recently in bangladesh many banks are emphasizing on the issue. Aim of e crm system is to improve customer service, develop a relationship and retain valuable customers.
The indian banking sector is also trying to wake up from sleep and become proactive till 1990, the indian banks have been working in a very comfortable and protected environment. Increasing the rate of accuracy of the transactions via e crm that is improvement of service quality. Introduction the first chapter of this study introduces the background of the selected area. This study is focused to determine the impact of e crm on. Lack of competition in the irish banking sector, monopoly and. A study of application of information technology using e.
Electronic crm e crm is the augmentation of crm process on the technology platform. The paper focuses on the objectives, techniques and benefits pertaining to ecrm in indian banking sector. Trust and convenience is a major benefit provided to the customers of the banks. This research aims at examining the effects of customer relationship management crm and electronic crm e crm on banks performance in jordan using.
The ecrm concept in india is relatively new and is making its inroads into financial service sectors namely banking sector. Electronic customer relationship management e crm appendix content b. Electronic customer relationship management ecrm in. Just as in other industries like retail or business, in banking, crm stands for customer relationship management. Aim of ecrm system is to improve customer service, develop a relationship and retain valuable customers. Introduction with the ever increasing growth in technologies and also the development in telecom services, this has changed the functioning of banks. The indian banking industry is transforming from its traditional transactional concept.
Journal of internet banking and commerce, november 2016, vol. A study of application of information technology using ecrm. In this eworld, ecrm has infinite opportunities for maintaining. Customer relationship management in banking sector banking. Electronic crm ecrm is the augmentation of crm process on the technology platform.
Customer relationship management ecrm in banking system of the country. The advantages of a business using a crm system greatly outweigh the disadvantages. To know the benefits of e crm technology in online banking. Problems and challenges link to publication record in manchester research explorer citation for published version apa. This research is aimed to analyze the outcomes of electronic customer relationship management ecrm system implementation in the saderat bank of tehran. The study focuses on analyzing the impact of the extended marketing mix on customer satisfaction within the banking sector. Dutta et al 2009, the statistical analysis further reveals that there exists a gap between the customer expectations and perception in the banking sector. Customer relationship management crm primarily caters to all interactions with the customers or potential customers, across multiple touch points including the internet, bank branch, call center, field organization and other distribution channels. Customer relationship management has become inevitable for growth and profitability of banks in present scenario marked by rising competition, technological advancement and empowered customers. In e crm, the customer is able to take care of himself using internet, and cost of maintenance and maintenance time is lesser. A customer relationship management solution in banking helps banks manage customers and better understand their needs in order to provide the right solutions, quickly. Ecrm improves and maintains transactions security of the customers. Through monitoring the reality of the role of these pillars e customer, e relationship, and e managementto achieve competitive advantage in the banks of jordan. Review of literature elements of e crm according to jellasi and enders 2004 e crm is the use of the internet and it applications used to manage the relationship with customers.
Crmecrm effects on banks performance and customerbank relationship quality. Crm strategy must cover all the market segments such as retail customers, indian corporate sector, trade and agricultural sector for their banking requirements. Kuwaiti banks have reached the advanced stage of using modern technology and adapting them to provide electronic banking services to customers using fast communication systems, and advanced information. Through monitoring the reality of the role of these pillarsecustomer, erelationship, and emanagementto achieve competitive advantage in the banks of jordan. Aug 26, 2010 need of customer relationship managementa in banks. Chapter 1 introduction electronic customer relationship management in online banking 1 1. Maintaining personalized attention approach, managing database, creating customer value and appropriate retention strategies is the key for growth for banks in the present day scenario. Pdf customer relationship management and banking sector. Previous works on e crm in nigeria have been focused in the banking sector, and there have been little attempt to academically examine its impact on the marketing performance. This demands for better relationship management through e crm by the banking. For a crm system to work, there needs to be buyin across the organisation and the processes in place to support it. Successful implementation of ecrm in online banking. Ecrm system has been recently adopted in the industry.
Mar 27, 2014 in february 2003, kotak mahindra finance ltd, the groups flagship company was given the licence to carry on banking business by the reserve bank of india rbi. Customer relationship management crm in the banking. This research aimed at investigating the role of electronic customer relationship management pillars in achieving competitive advantage for banking sector in jordan. The technology is lifting the competition in the banking sector. Electronic customer relationship management in online banking. Current status of ecrm in indian banks internet have enabled banking at the click of the mouse. Impact of electronic customer relationship management in banking sector article pdf available in international journal of electronic customer relationship management 94. Customer relationship management crm in the banking sector of pakistan. So, the banking sector is expected to provide valuedriven proposition to their potential customers, which is arrived only through the process of effective market research which highlights the importance of ecrm and its essential role in these sectors. Customer relationship management in banking sector what more needed. For a crm system to work, there needs to be buy in across the organisation and the processes in place to support it. Ecrm, which is the latest buzzword in the corporate sector. Has more than one lakh regular user accounts, of which more than 25%.
Ecrm on the relationships quality and its consequences. Impact of electronic customer relationship management in. The banks must adopt e crm customercentric focus approach, as it is believed that products should be devised for the customers and not the other way around. A structured questionnaire method has been used to collect data from a. The issue of the research is customer relationship in banking sector. Ecrm, which is the latest buzzword in the corporate sector, is perceived as one of the effective tool in this direction by the banks. Aug 30, 20 e crm improves and maintains transactions security of the customers. Previous works on ecrm in nigeria have been focused in the banking sector, and there have been little attempt to academically examine its impact on the marketing performance. The benefits of the electronic customer relationship. A this has resulted in the adoption of various crm initiatives by these banks to enable them achieve their objectives. Electronic customer relationship management e crm in jordan.
This is an attempt to assess the extent and degree of ecrm adopted by banking industry and find out if there is scope for further improvement. In such comportment, our course teacher has approved the following issue. Pdf impact of electronic customer relationship management in. Dec 28, 2016 electronic customer relationship management e crm is the application of internetbased technologies such as emails, websites, chat rooms, forums and other channels to achieve crm objectives. Research paper commerce a study on customer relationship management practices in banking sector with special reference to salem district. Crm in banking sector with special reference to new age. The banks must adopt ecrm customercentric focus approach, as it is believed that products should be devised for the customers and not the other way around. This study is focused to determine the impact of ecrm on. Opportunities and challenges in a digital world electronic customer relationship management ecrm is seen to arise from the consolidation of traditional crm with the ebusiness applications marketplace and has created a flurry of activity among companies. With the introduction of this new technologies, the concept of traditional banking have been. The advent of foreign banks into the country and the licensing of private sector have created stiff. May 02, 2017 the advantages of a business using a crm system greatly outweigh the disadvantages. But for proper knowledge the adoption process hampers to a great extent. Role of ecrm in indian banks international journal of.
I n this competitive era, banks have to strive hard for retaining and enlarging their customer base. 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. Purpose despite the growing debate about customer relationship management has gained a lot of importance in the 21st century because of globalization and new. In the emerging competitive and technological driven banking era, banks have to strive hard for retaining and enlarging their customer base. This research was interesting and worth searching for me to understand the efficiency of the customer service system of the irish retail banking sector that effects crm. Crm in the banking sector is of strategic importance 5. At present there are five functional categories for online banking sites on line brochure center, interactive bank, emails, calculations and cyberbanks, which offer customers access to account information, interbranch funds transfer. There are many research work carried out on customer relationship management in banking sector but in case of electronic customer relationship management in. Customer relationship management, ecrm, banking sector.
Crm in banking sector with special reference to new age banks. Ajm electronic customer relationship management an. Customer relationship management in banking sector. Electronic customer relationship management ecrm is the application of internetbased technologies such as emails, websites, chat rooms, forums and other channels to achieve crm objectives. Otherwise, your crm may end up being an expensive waste of time. To know the electronic customer relationship management e crm be used in online banking. The continuous and rapid development of information and communication technology ict influenced the operations and services provided by the banking sector. How bank austria uses data mining to identify potential customers. Abstract information technology has embraced banking services like any other industry. The aim of the study is to evaluate critically the status of customer relationship management in indian banking sector. Ecrm, online banking, siebel introduction in the new economy, business, especially in the service sector has become customer centric and has been exploring new ways to service customers efficiently.
Since the ecrm is relatively new technology and evolves rapidly there is scarce evidence of the benefits of its implementation. Project report on crm in banking by sanjay gupta issuu. However, since then they have been pushed into intense competition due to changed economic policies. Customer relationship management in banking sector authorstream. Rashmita sahoo research scholar lecturer, department of business administration, utkal university, vani vihar, odissa. Impact of electronic customer relationship management in banking sector. The paper focuses on the objectives, techniques and benefits pertaining to e crm in indian banking sector. The e crm concept in india is relatively new and is making its inroads into financial service sectors namely banking sector. Crm e crm effects on banks performance and customerbank relationship quality. The electronic customer relationship management ecrm in the banking sector is implemented to serve customers and to achieve these objectives. Crucial functions of ecrm contact management 19 12. How does electronic customer relationship management ecrm be used in. Role of ecrm in indian banking sector ajit kumar sahoo dr. Role of e crm in indian banking sector ajit kumar sahoo dr.
This research aims at examining the effects of customer relationship management crm and electronic crm ecrm on banks performance in jordan using. The expectations of bank customer are higher than their perception. 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. This paper deals with the role of customer relationship management in banking sector and the need for customer relationship management to increase customer value by using some analytical methods.
Customer relationship management in indian banking sector. Particularly in banking sector, the role of crm is very vital in leading the banks towards high level and volume of profits. Advantages and disadvantages of crm target integration. To know the satisfaction level of the customers towards crm practices. Crm a p owerful tool help to exploit sales potential and maximize the value of the customer to the bank. Pdf electronic customer relationship management in banking. In order to achieve the above aim, the study has four main objectives.
This is not an example of the work produced by our essay writing service. Customer relationship management in banking sector authorstream presentation. Benefits of e crm e crm is a approach in relationship management it benefits to its stakeholder who include employees, customers, suppliers and channel partners ragins and greco, 2003 according to rigby and et al. Pdf customer relationship management in banking industry. Marketing was the most often function associated with crm. To evaluate critically the literature relating to bank selection in general. This is an attempt to assess the extent and degree of e crm adopted by banking industry and find out if there is scope for further improvement. There are many specific benefits of crm in banking. Effects of ecrm on customer bank relationship quality and. E crm, which is the latest buzzword in the corporate sector, is perceived as one of the effective tool in this direction by the banks. Electronic customer relationship management in banking. Electronic customer relationship management e crm customer relationship management crm a customer service approach that focuses on building longterm and sustainable customer relationships that add value both for the customer and the selling company. Electronic customer relationship management ecrm in jordan.
Ijemr february 20vol 3 issue 2 online issn 22492585 print issn 22498672 1. Introduction banking industry has witnessed a lot of changes in the era of liberalization. Increasing the rate of accuracy of the transactions via ecrm that is improvement of service quality. Customer relationship management in banking sector and a. Pdf impact of electronic customer relationship management. Particularly in banking sector, the role of crm is very vital in leading the banks towards highlevel and volume of profits. To evaluate critically the literature relating to bank selection in general and specifically relating to customers and their bank accounts. This demands for better relationship management through ecrm by the banking.
Importance of crm in indian banking systema contemporary insight. A study of ecrm services of commercial banks in virudhunagar. Crmecrm effects on banks performance and customerbank. To study the awareness of customers towards crm practices banking sector.
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