Customer Relationship Management in Indian Banking Industry

Contents: 1. Customer relationship management and profitability in banks/Sanskritirani Desai. 2. Customer relationship management in the banking sector/Anupma Sharma. 3. Customer relationship management in  ICICI Bank/Hansa L. Manahor, J. Sindhuja, M. Daniel Rajkumar and Sree Sarika Bhuvaneshwari. 4. Measuring the success of customer relationship management outsourcing/Gianetan S. Sekhon, R.K. Chauhan and Sawtantar Singh. 5. Customer awareness and satisfaction with e-banking services: a case study/Monika Aggarwal. 6. Corporate governance in banks/Aditya Gautam and Indu Gaba. 7. Corporate governance in India/Neetu Khanna and Shivani Gupta. 8. Corporate governance and transparency in banks/Leena Kakkar, Preety Sharma and Pooja Mehta. 9. Economic reforms and public sector banks/Rajinder Punia and Himanshu Rampal. 10. Banking sector reforms: issues, policies and outlook/R.K. Uppal and Rimpi Kaur. 11. Banking insurance and financial sectors/Rajesh Marwaha and Pooja Chatley. 12. Value added accounting for evaluating performance of banks/Nazir Ahmad Gilkar. 13. Stress management in banks/Nitu Gupta and Ritu Gupta. 14. Business process reengineering/Nitu Gupta and Rimpi Kaur. 15. Business ethics: an essential ingredient in corporate governance/Nitu Gupta. 16. Customer relationship management and banking industry/Sudhir Sharma and Akash Kumar. Index.

"Customer Relationship Management (CRM) is fundamental to building a customer-centric organisation. 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 interactions in a manner that enables banks to maximise profitability from every customer.

Increasing competition, deregulation, and the internet have all contributed to the increase in customer power. Technology has reduced barriers to entry and exit for the customers, making it easier to switch banks or brokers without feeling the pinch in the wallet. Retaining customers is a major concern for banking institutions which underscores the importance of Customer Relationship Management (CRM).

Customers, faced with an increasing array of banking products and services, are expecting more from banks in terms of customised offerings, attractive returns, ease of access and transparency in dealings.

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, smart cards, call centres and phone 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 Relationships 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." (jacket)