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Customer Relatiomship management in banking


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Emerging trends in banking and insurance sectors

Published in: Business
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Customer Relatiomship management in banking

  1. 1. Introduction
  2. 2.  Intense Competition  Well Informed Customers  Decline in Brand Loyalty  Improved Customer Retention
  3. 3. Personal Customer Needs  Personal contact  A knowledgeable and reliable banker.  Relevant Information.  Customized and timely solutions  Value for money
  4. 4. Business Customer Needs  A professional partnership approach.  High levels of information.  Customized and highly responsive service.  Quality Customer Information.
  5. 5. Benefits for Customers  There is a more coordinated and professional approach to customer contact.  With up-to-date customer information, Banks can offer more personalized services.  Customers feel empowered if they have greater access to products and services. For example 24 Hours banking.  Targeted product and service offerings can be timed to coincide with customer events and requirements e.g., Education Loans and Tourism Loans.
  6. 6. Benefits for Employees  Employees are empowered with the information to deliver high quality service and meet customer expectations.  Employees have more time to serve customers.  Employees have higher satisfaction ratings.
  7. 7. Benefits for Banks  Managers are empowered with information that can help them manage  customer relationships and make better decisions.  Optimum use of resources.  Customer satisfaction and increased loyalty.  Improved customer acquisition and cross- selling.  It helps in capitalizing on short windows of opportunities in the market.
  8. 8.  The introduction of ATMs.  Biometric ATMs.  Single Window Service.  Teller System.  Internet Banking  Introduction of Plastic Money: Credit Card, Debit Card, Smart Card.  Mobile and E-Mail Alerts  Electronic Cash  Introduction of two in one Accounts