“Competition and globalisation of bankingservices 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”.
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.
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.
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.
DECISIONS.
E-SUPPORT
CUSTOMERS WANT CUSTOMERS DIRECTIVES
PRINCIPLES OF SERVICES IN BANKING SUGGESTIONS
