Customer Relationship Management of Standard Chartered Bank and its incorporation in a Government Bank

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Chapter-1
(Part-I)
Overview of Standard Chartered Bank

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1.1 Introduction
Standard Chartered Bank (SCB) is a multinational bank and a financial service group which is
incorporated in the UK with its Headquarters at 1 Alderman buries Square, London. By serving
the world for 150 years, it now spans in the developed and emerging economies of the world.
The group operations are mainly concentrated in Asia, Africa and the Middle East and its
operation is segmented under six regions: LTK, Europe, Middle East, South Asia, South East
Asia and the USA. SCB plays an invigorating role in linking the world economic trend with
different services under the big umbrella of retail banking, corporate banking, private banking,
SME banking and SAADIQ Islamic banking. Globally, the SCB group owns an array of key
resources that includes; a network of 600 offices in more than 50 countries; a staff of about
89,000 of 115 diverse nationalities helps to energize creativity and innovation, supporting the
development of exciting new services and products for the worldwide customers. At the global
level, SCB operates with some key strategies that are quite unique to other banks such as; to
build and grow strong businesses in Middle East, South Asia and Far East Asia. There vision for
work, here in this regions is, building unique position and image among the target customer
segment and being responsive to the needs and serve the needs better than the competitors.
Presently at this time of age Standard Chartered bank is at the centre of one of the greatest
challenges of time; their concentration is on how to generate enough growth and jobs for 7
billion people, and counting. With their firm footprint in Asia, Africa and the Middle East, they
are trying to meet the challenges by enabling trade and investment to flow to, from and within
some of the fastest-growing markets of the world.
1.2 History
The name Standard Chartered basically comes after two banks which merged in 1969. They were
originally known as the “Standard Bank” of British South Africa and the “Chartered Bank” of
India, Australia and China.
Of the two banks, the “Chartered Bank” was established by Royal Charter from Queen Victoria
in 1853. The key person behind the Chartered Bank was a Scot, James Wilson. He started “The
Economist”, which is still one of the world’s pre-eminent publications and during his early days
he also made his fortune in London making hats. He visualized the advantages of financing the
growing trade links with the areas in the east, where none of the other financial institutions were
present at that time and as such the Chartered Bank opened two branches in 1858 in Chennai and
Mumbai. The same year the bank opened another branch in Shanghai. The following year the
Chartered Bank opened a branch in Hong Kong and an agency in Singapore. In 1861 the
Singapore agency was upgraded to a branch which in turn financed the rapidly developing rubber
and tin industries in Malaysia. In 1862 the Chartered Bank was authorized to issue bank notes in

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Hong Kong. Subsequently it was also authorized to issue bank notes in Singapore, a privilege it
continued to exercise up until the end of the 19th Century.
On the other hand, the “Standard Bank” was founded by Scot, John Paterson in 1862. He
immigrated to the Cape Province in South Africa and very soon he became a successful
merchant there. He also visualized the great trading possibilities between Europe and his adopted
country.3
From the very beginning both the banks were keen to capitalize on the huge expansion of trade
between Europe, Asia and Africa and to reap the handsome profits to be made from financing
that trade and for that they expanded and prospered with time and decided to merge in 1969.
After the merger the new shares of the Standard and Chartered Banking Group Limited were
listed in the London Stock Exchange on January 30th, 1970. Although the two banks merged in
1969, but their operations were being executed from two different headquarters, until on June
1980, the original building of the Chartered Bank was demolished and a new headquarter of the
Standard Chartered Bank PLC was opened on March 20th, 1986. Right after the merger the bank
experienced continuous growth and expansion in United States and Europe, which led the bank
to be one of the top 100 listed banks in the world. Moreover, it was also judged the best bank in
the Asia-Pacific region in 1993 and 1994 for its excellent service and growth rate as well.
1.3SCB in Bangladesh
Standard Chartered is the oldest and largest foreign bank in Bangladesh. Only bank that never
closed its doors over 110 years of banking operation in the country. First international bank to
extend credit lines to Bangladesh and open the first external letter of credit (LC) in Bangladesh.
Today, Standard Chartered Bank is the largest international bank in Bangladesh with 26
Branches & Booths and 83 ATMs; employing over 2,000 people. They are the only foreign bank
in the country with presence in 6 cities – Dhaka, Chittagong, Khulna, Sylhet, Bogra and
Narayanganj; including the country's only offshore banking units inside Dhaka Export
Processing Zone (DEPZ) at Savar and Chittagong Export Processing Zone (CEPZ).
SCB also have a glorious heritage to introduce many ‘firsts’ in this market – starting from Auto
Coupon Encashment Service of Sanchaypatra to International Debit Card to Gold Deposit
Transaction. On the consumer convenient side they have been continuously coming up with
newer technology and platforms like introducing first ATM in Bangladesh to state-of-the-art
Online Banking Platform or even the Facebook platform to stay close to customers, always.

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Chapter-1
(Part-II)
Background of the Study

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1.4Introduction
In this day and age, customers are regarded as an article of trade. With the growth of Service
Marketing, Customer Relationship Management (CRM) advanced and became popular in
banking sector. CRM became crucial to cope up with exceeding competitive market. (CRM) in a
bank bring about important phases such as incorporating the communication tools to meet the
needs of customers, referring each customer as individuals, and making the customer relationship
an impressive and long-lasting experience. The purpose of this study is to determine the
usefulness of CRM implementation on customer contentment and perceived business
performance. It takes stock of findings and conclusion of different researchers so that it can
provide fruitful insight into the CRM implementation. Also the paper put forward the view of
various researchers together so that a conclusive picture can be drawn regarding CRM and its
benefits.
1.5Origin of the study
This report has been prepared as a requirement of the for partial fulfillment of the requirements
for the degree MBA (Professionals). We have been assigned to work on this project titled “A
Study on Customer relationship Management of Standard Chartered Bank and its
incorporation in Government Bank;”by our course instructor Professor Nafees
Imtiazuddin, Faculty of Business Studies, Bangladesh University of Professionals. We have
worked on this project for the last two months. During the course of the work, we were
monitored by the Faculty Advisor and given valuable guidance and advice regarding the
report.
1.6Statement of the Problem
This report deals with Customer Relationship Management (CRM) of Standard Chartered Bank.
Following areas of Customer Relationship Management (CRM), we tried to cover-up in this
report-
1) Studying Customer relationship Management
2) Analyzing Customer relationship Management
3) Evaluating the Customer relationship Management
1.7Significance of theStudy
Customer Relationship management is the strongest and the most efficient approach in
maintaining and creating relationships with customers. Customer relationship management is not

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only pure business but also ideate strong personal bonding within people. Development of this
type of bonding drives the business to new levels of success.
The idea of CRM is that it helps businesses use technology and human resources gain insight
into the behavior of customers and the value of those customers. If it works as hoped, a
business can provide better customer service, make call centers more efficient, cross sell
products more effectively, help sales staff close deals faster, simplify marketing and sales
processes, discover new customers, and increase customer revenues. It doesn't happen by simply
buying software and installing it. For CRM to be truly effective an organization must first decide
what kind of customer information it is looking for and it must decide what it intends to do with
that information. For example, many financial institutions keep track of customers' life stages in
order to market appropriate banking products like mortgages or IRAs to them at the right time to
fit their needs. Next, the organization must look into all of the different ways information about
customers comes into a business, where and how this data is stored and how it is currently used.
1.8 Objectives of the Report
1.8.1 General:
The key purpose of this study is to find how Customer relationship management helps to
improve service quality of Standard Chartered Bank.
1.8.2 Specific:
• Find out whether Customer Relationship Management affects service quality in context
of Standard Chartered Bank
• To see how standard chartered benefited from this model
• To see what elements of CRM of Standard Chartered Bank can be incorporated in a
government bank in context of Sonali Bank Limited.

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Chapter-2
Literature Review

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2.1 Literature Review
The customers of the 21st century control or own the leaders of the business, the customer of the
21st century control or own the employees of the business, and the customer of the 21st century
control or own the business because the customers of the 21st century hold the potential success
or failure of the business in their firm grip. Customers demand and expect fast, efficient, and
effective service instantaneously. Customers anticipate and expect that all of their personal
information likes and dislikes, and special preferences are recognized and efficiently turned into
action. Establishing customer value means that the customers‟ dreams or desires are served
professionally, quietly, proficiently, and efficiently, always catering to the customers‟ wants,
needs, desires, and dreams. The customers of the 21st century know that the power of
information and intense competition affords them the advantage that facilitates their demands.
The customers of the 21st century demand personalized service, and they demand to speak to the
person in charge so they may get the best deal. They not only demand everything but also want
the companies they do business with to change to meet their desires and whims (Galbraith,
2005). The success of a business ultimately resides in the carefully maintained and groomed
connections that businesses establish with their customers.
The following literature review section provides a discussion and argument for the service
quality and CRM practices. The phrase CRM appeared in the literature after the evolution in the
relationship marketing philosophy. Berry (1983) defined relationship marketing as attracting,
maintaining and enhancing the customers’ relationships in multiservice organization. After a few
decades, the evolution in relationship marketing philosophy changed the word relationship
marketing to CRM. According to Brown (2000) CRM is a process of acquiring new customers,
retaining the existence customers, and at the same time understands, anticipates and manages the
needs of an organization’s current and potential customers. Furthermore, Mylonakis (2009)
described CRM as an innovative process to create a long term relationship and gaining trust.
Further, a clear vision of CRM along with appropriate strategies if applies in banking sectors
found out that beneficial in maintaining the customer service quality, customer satisfaction and
customer retention which ultimately leads to the growth of the organization and profitability
(Bansal andSharma, 2008).
Girdhar (2009) observed that by satisfying the internal customers and building good relationship
with them, the relationship with the external customers can also be retained and satisfied by the
banks. Kumar & Rajesh (2009) reveals that any bank that wishes to either grow in size of its
banking operation or improve its profitability must consider the challenges affecting its customer
relationship. The challenge before the banks is not only to obtain updated information for each
customer, but also to use the information to determine the best time to offer the most relevant
products (Lau et al., 2003). It is also important to understand that if customers bring in profits for
the bank, it becomes imperative for the bank to provide excellent services to those customers,

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otherwise they switch to other banks (Ray, 2007). Service quality in banking implies consistently
anticipating and satisfying the needs and expectations of customers.
Parasuraman et al. (1985) also hold the view that high quality service gives credibility to the
field sales force and advertising, stimulates favorable word-of-mouth communications, enhances
customers’ perception of value, and boosts the morale and loyalty of employees and customers
alike. Puccinelli (1999) looks the financial services industry as entering a new era where
personal attention is decreasing because the institutions are using technology to replace human
contact in many application areas. Over the last few decades, technical evolution has highly
affected the banking industry (Sherif, 2002). In today’s competitive banking industry, customers
have to make a choice among various service providers by making a trade-off between
relationships and economies, trust and products, or service and efficiency (Sachdev et al.,
2004).Roger Hallowell (1996) conducted a research on customer satisfaction, loyalty, and
Profitability and found that as compared to public sector, private sector bank customers’ level of
satisfaction is comparatively higher.
CRM is a key to create a superior customer experience. It manages the customer relationship by
creating a clear understanding (Know), by developing services and products based on the added
value for target groups (Target), then enabling the actual sale and delivery of services and
products through the selected channels (Sell), and developing long term profitable relationships
with customers after sales services (Service) (Hussain, et.al., 2009).Many researchers have been
done in various industries especially in the banking sector that focusing on customer oriented
services (Ndubisi et al., 2007; Rootman et al., 2008; and Duttaand Dutta, 2009). The literature on
CRM suggests that banks should consider the customer relationship life cycle (Dwyer et al.,
1987). In general, there are three core phases: customer acquisition, Customer enhancement, and
customer recovery. The acquisition phase describes the initiation of a customer-bank
relationship.

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Chapter-3
CRM in SCB

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3.1 Introduction
Today, many businesses such as banks, insurance companies, and other service providers
realize the importance of Customer Relationship Management (CRM) and its potential to help
them acquire new customer, retain existing ones and maximize their lifetime value. At this
point, close relationship with customers will require a strong coordination between IT and
marketing departments to provide a long-term retention of selected customers. This paper
deals with the role of Customer Relationship Management in Standard Chartered Bank and the
need for Customer Relationship Management to increase customer value by using some
analytical methods in CRM applications.
This project intends to analyze and investigate factors of “Customer Relationship
Management” That influence the customer service quality of Mercantile Bank Limited, Ring
Road, Dhaka, Bangladesh. The main objective of this project is to identify the key factors that
influence the extent to which CRM helps to improve the service quality of the Mercantile
Bank. It will be a causal study aimed to measure if the existence of or a change in independent
variable causes or leads to a change in the Dependent variable. Moreover, the paper also tries
to explain the relationship between customer relationship Management and service quality of
the Bank. This study is based on primary data to understand the level of “Customer
Relationship Management” that Influence on service quality of Mercantile Bank Ltd.
3.2 CRM Objectives in Standard Chartered Bank
The idea of CRM is that it helps businesses use technology and human resources gain insight
into the behavior of customers and the value of those customers. If it works as hoped, a business
can: provide better customer service, make call centers more efficient, cross sell products more
effectively, help sales staff close deals faster, simplify marketing and sales processes, discover
new customers, and increase customer. For CRM to be truly effective an organization must first
decide what kind of customer Information it is looking for and it must decide what it intends to
do with that Information. Company analysts can combine through the data to obtain a holistic
view of each customer and pinpoint areas where better services are needed.
SCB is trying to use CRM techniques to achieve a variety of outcomes. In the area of strategy,
they are trying to:
• Create a customer-focused organization and infrastructure.

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• Secure customer relationships
• Maximize customer profitability;
• Identify sales prospects and opportunities;
• Support cross and up-selling initiatives;
• Manage customer value by developing propositions aimed at different customer
segments;
• Support channel management, pricing and migration.
• Gaining accurate picture of customer categories.
• Assess the lifetime value of customers.
• Understand how to attract and keep the best customers.
3.3 FOLLOWING ARE THE BENEFITS OF CRM TO SCB
3.3.1 CRM Banking Focuses on the Customer:
CRM manages to places the customer at the focal point of the organization in order to cater to his
needs, satisfy him and thus maximize the profits of the organization. Banking CRM understands
the needs of the customer and integrates it with people, technology, resources and business
processes. It focuses on the existing data available in the organization and uses it to improve its
relationship with customers. Banking CRM uses information and analytical tools to secure
customer focus. Thus it is completely essential that banks implement CRM in order to secure
this.
3.3.2 Overall Profitability:
CRM enables banks to give employee's better training that helps them face customers easily. It
achieves better infrastructure and ultimately contributes to better overall performance. The
byproducts of CRM banking solutions are customer acquisition, retention and profitability.
Banks that don't implement CRM will undoubtedly find themselves with lesser profitability
coupled with a sharp decline in the number of customers.
3.3.3 Satisfied Customers:
It is important to make a customer feel as if he / she is the only one - this will go a long way in
satisfying and retaining them. Bankers need a return on investment and it has been proved that
increase in customer satisfaction more than contributes a fair share to ROI. The main value of
CRM banking lies in satisfaction and increased retention of customers.
3.3.4 Centralized Information:
CRM banking solutions manage to clearly integrate people, processes and technology. CRM
banking provides banks with a holistic view of all bank transactions and customer information as
well and stores it in a single data warehouse where it can be studied later.

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3.3.5 CRM Banking Boosts Small Banks:
Banking CRM software meets the needs of banks of all sizes in terms of attaining the required
accuracy and understanding of customers. Merely assuming that banks that are considerably
smaller in size have a better customer approach and are able to deal with their customers in a
better manner is wrong.
They are just as much in need of CRM aid as the others. Small banks on account of a limited
amount of money have had to realize that a large contribution to profits is directly the result of
good customer service. CRM makes sure that the bank delivers exactly what the customer
expects.
3.3.6 Customer Segregation:
CRM enables a bank to see which customers are costing them and which are bringing benefits.
CRM provides them with the required analytical tools that will help them focus on the
importance of segregating these two and doing what is required to avail of the maximum returns.
After this segregation is done CRM easily enables banks to increase their communication and
cross-selling to their customers effectively and efficiently.
3.3.7 Aggressive Customer Acquisition:
CRM solution supports the creation of demand generation through multi-channel and multi-wave
campaigns. The solution ensures the bank’s marketing message is appropriately personalized and
targeted towards the most suitable segment of prospects. This optimizes marketing efforts and
results in greater conversion of prospects
3.3.8 Improved Cross-sell Framework:
The solution presents a unified 360° view of the customer, allowing single point access to all the
relationships the customer has forged with the bank. This along with robust customer analytics
effectively supports true relationship banking, providing a robust framework for cross-sell
opportunities.
CRM solution also integrates with other white labeled solutions to facilitate contextual and
personalized customer engagement, with a keen focus on right-talk driven right-sell.
3.3.9 Increased Operational Efficiencies and Collaboration:
CRM solution supports business automation for processes and business activities, eliminating
manual tasks and reducing process time. Straight through processing abilities enhance reduction
in turnaround and processing time, increasing output and enabling speedy completion of tasks.

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The multilingual Web-based single repository of information enables remotely located bankers
to collaborate and transact seamlessly.
3.3.10 Campaign Management:
Banks need to identify customers, tailor products and services to meet their needs and sell these
products to them. CRM achieves this through Campaign Management by analyzing data from
banks internal applications or by importing data from external applications to evaluate customer
profitability and designing comprehensive customer profiles in terms of individual lifestyle
preferences, income levels and other related criteria.
Based on these profiles, banks can identify the most lucrative customers and customer segments,
and execute targeted, personalized multi-channel marketing campaigns to reach these customers
and maximize the lifetime value of those relationships.
3.3.11 Customer Information Consolidation:
Instead of customer information being stored in product centric silos, (for e.g. separate databases
of savings account & credit card customers), with CRM the information is stored in a customer
centric manner covering all the products of the bank. CRM integrates various channels to deliver
a host of services to customers, while aiding the functioning of the bank.
3.3.12 Marketing Encyclopedia:
Central repository for products, pricing and competitive information, as well as internal training
material, sales presentations, proposal templates and marketing collateral.
3.3.13 360-Degree View of Bank:
This means whoever the bank speaks to, irrespective of whether the communication is from
sales, finance or support, the bank is aware of the interaction. Removal of inconsistencies of data
makes the client interaction processes smooth and efficient, thus leading to enhanced customer
satisfaction.
3.3.14 Personalized Sales Home Page:
CRM can provide a single view where Sales Mangers and agents can get all the most up-to-date
information in one place, including opportunity, account, news, and expense report information.
This would make sales decision fast and consistent.
3.3.15 Lead and Opportunity Management:
These enable organizations to effectively manage leads and opportunities and track the leads
through deal closure, the required follow-up and interaction with the prospects.

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3.3.16 Operational Inefficiency Removal:
CRM can help in Strategy Formulation to eliminate current operational inefficiencies. An
effective CRM solution supports all channels of customer interaction including telephone, fax, e-
mail, the online portals, wireless devices, ATMs, and face-to-face contacts with bank personnel.
It also links these customer touch points to an operations center and connects the operations
center with the relevant internal and external business partners.
3.3.17 CRM with Business Intelligence:
Banks need to analyze the performance of customer relationships, uncover trends in customer
behavior, and understand the true business value of their customers. CRM with business
intelligence allows banks to assess customer segments, which help them calculate the net present
value (NPV) of a customer segment over a given period to derive customer lifetime value.
Customers can be evaluated within a scoring framework. Combining the behavior key figure and
frequency to monetary acquisition analysis with a marketing revenue quota can optimize
acquisition costs and cut the number of inefficient activities. With such knowledge, banks can
efficiently allocate resources to the most profitable customers and reengineer the unprofitable
ones. Data warehousing solutions have been implemented in Citibank, Reserve Bank of India,
State Bank of India, IDBI, ICICI, Max Touch, ACC, National Stock Exchange and PepsiCo.
3.4 BENEFITS OF CRM TO CUSTOMERS
Customer relationships are becoming even more important for banks as market conditions get
harder. Competition is increasing, margins are eroding, customers are becoming more
demanding and the life-cycles of products and services are shortening dramatically. All these
forces make it necessary for banks to intensify the relationship with their customers and offer
them the services they need via the channels they prefer.
CRM helps banks to provide lot of benefits to their customers; some key benefits are as follow.
• Service provisioning throughout the entire life cycle of the corporate customer, from the
initial stages to the establishment of a close, long-term relationship with profitable
clients,
• Optimization of the use of bank resources, such as alternative channels of distribution
(internet and home banking),
• Significant reduction in and limitation of operational costs through system automation
and standardization,
• Low maintenance and expansion costs owing to the use of modern administration tools
which allow bank employees to make a wide range of modifications to the system
• CRM permits businesses to leverage information from their databases to achieve
customer retention and to cross-sell new products and services to existing customers.

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• Companies that implement CRM make better relationships with their customers, achieve
loyal customers and a substantial payback, increased revenue and reduced cost.
• CRM when successfully deployed can have a dramatic effect on bottom-line
performance. For example, Lowe’s Home Improvement Warehouse, in a span of 18
months, achieved a 265 percent return on investment (ROI) on its $ 11m CRM
investment.
• According to a study conducted in the sector of banking, convenience of location, price,
recommendations from others and advertising are not important selection criteria for
banks. From customers’ point of view, important criteria are: account and transaction
accuracy and carefulness, efficiency in correcting mistakes and friendliness and
helpfulness of personnel. Thus, CRM, high-quality attributes of the product / service and
differentiation proved to be the most important factors for customers.
• Another study conducted in a European bank shows that with CRM, the bank was able to
focus on profitable clients through efficient segmentation according to individual
behavior. Information about ‘who buys what and how much’ enabled the bank to have a
commercial approach based on the client and not solely on the product. Thus, the bank
was able to better satisfy and retain its customers.
Eventually, CRM results both in higher revenues and lower costs, making companies more
effective and efficient: effective in targeting the right customer base with the right services via
the right channels, and efficient in doing this at the lowest costs. For example, those banks that
are moving transactions from the more expensive channels to a less costly channel – like the call
center or Internet– are therefore able to save money.

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Chapter-4
Methodology of the Study

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4.1 Data Collection
The report is prepared on the basis of information collected from both secondary sources and
primary data collection survey. The secondary information were collected from the Standard
Chartered Bank archive, Annual report and materials from various newspapers, magazines, these
are for the organizational part of the report. Some fundamental steps of research methodology
have been followed in the course of our research activity. In our study we have adopted the under
mentioned methods to conduct the activity.
4.2 Determining the source of information
In the next step it needed to determine the sources of information that would be required for the
study. The report contained both primary and secondary data to conduct the survey.
4.2.1 Primary Data:
Information used in this report collected by interviewing & surveying employees and
customers. Clarifications of issues from different concerned officials of Standard Chartered
Bank. Primary data of this report were collected in the following way-
• Face to face interview.
• By Surveying
• By Observing
4.2.1.1 Interview Method:
The face-to-face interview was taken, where one person-the interviewer, asks the respondent
questions designed to obtained answer applicable to research. In order to get the real information
and data about the Customer Relationship Management activities, various officials were
interviewed directly.
4.2.1.2 Survey Method:
The report collected data through survey and also performed a small scale of experiment. The

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survey was a closed-ended question on Customer Relationship Management activities,
affectivity, its constraints and other similar aspects concerning Customer Relationship
Management at Standard Chartered Bank. The survey data collection method was selected
because it is most appropriate to collect quantitative data. Additionally it allowed the research
to collect data quickly, which was important with limited time. The method was also
convenient for the respondents.
4.2.1.3 Observation Method:
Observation method may be defined as systematic viewing according to concise Oxford
Dictionary “accurate watching, nothing of phenomena as they occur in nature with regard to
cause and effect and mutual relationship”. Many of the activities of Customer Relationship
Management have been observed during working period.
4.2.1.4 Questionnaire:
In this method, a list of questions related to subject is prepared and given to participants. The
questionnaire contains questions and provides space. A request is made to participants to fill
up the questionnaire and send it back within a specified time.
4.2.2 Secondary data:
This report used different types of secondary data in research. Sources of secondary data are as
follows:
4.2.2.1 Internal Source:
• Banks Annual Report.
• Prior Research Report.
• Bank Website.
• Files, records, journals, manuals and publications obtained from library of the bank
4.2.2.2 External Sources:
• Different books and periodicals related to Training and development.

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• Newspaper.
• Internet.
4.3 Classification, Analysis, Interpretations and Presentation of Data
Some arithmetic and graphical tools are used in this report for analyzing the collected data and to
classifying those to interpret them in a clear and understandable manner.
4.4 Findings of the study
The collected data were scrutinized and were pointed out and shown as findings. Few
recommendations are also made for improvement of the current situation
4.5 Final report preparation
On the basis of the suggestions of our honorable faculty advisors some corrections were made to
present the paper in this form.
4.6 Sampling plan
4.6.1Sampling unit:
Sampling unit was Customers from different class, Relationship Manager, senior officer, junior
officer etc.
4.6.2 Sampling size:
This survey covers heterogeneous sample of population. The number of customers banking in
Standard Chartered Bank, Uttara Branch is nearly 300 and it is still expanding. About 150
customers have been provided services by branch. Out of which 10 different customers have
been selected on random basis. The employees working in that branch is nearly 50. Out of
which 5 officials have been selected as sample those are related with customer service and
management and undergone the training program in the last six months to have a flavor of the
Customer Relationship Management in training. This increases the scope and reliability of the
report.

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4.7 Contacts Method
Contacts methods were physical interviewing and surveying.
4.8 Data Analysis
This is a descriptive report aimed at depicting the Customer Relationship Management process
and monitoring methods finally to assessment the entire procedure of Customer Relationship
Management system of Standard Chartered Bank. The data gathered from both primary and
secondary sources were arranged orderly to get a clear picture of the bank’s Customer
Relationship Management policy. The study includes both qualitative and quantitative analysis
of Customer Relationship Management course of actions and tools. Based on the observational
information writer also tried to evaluate and analyze the problems involved in various phases
of the Customer Relationship Management activities and techniques.

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Chapter-5
Data Analysis & Interpretation

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5.1 Research Questions to employees
1. Does CRM leads to improved performance in Bank.
2. Does CRM applications or systems help staffs/employees understanding customers
3. Are the employees satisfied with the CRM system
5.2 Findings of the Survey
5.2.1 Results and Analysis of the Participants:
The data obtained from the research are analyzed through Ms Excel. Results are given below
in table. In the pie chart, Male is 60% percent and female is 40% percent respondent of the
total sample size of bank employees.
Gender Percentage
Male 60%
Female 40%
Table-1: Gender of Participants
Figure-1: Illustration of Participants Gender
60%
40%
Gender
Male
Female

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5.2.2 Age of Participants:
AGE Number Percentage
25-35 2 40%
36-45 2 40%
Above 45 1 20%
Table-2: Age of Participants
This table shows that 40% of Respondent are from 25 to 35 age group.40%respondents are
from 36-45 age group and 20%are from above 45 age group.
Figure-2: Illustration of Age of Participants
5.2.3 Findings-1: Improvement of Performance
Rating Number Percentage
Agree 3 40%
Neutral 1 20%
Disagree 1 20%
Table-3: Improvement of Performance
40%
40%
20%
0
Age of participants
25-35 36-45 Above 45

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Table shows the impact of CRM in improving performance where 60% of employees belief
with that fact. On the other hand 20% percent employees think not only the CRM factors but
other factors also impact bank performance. But 20% employees are not agree with the
opinion. That means CRM has great affectivity with service Quality. So if Bank doesn’t
improve their CRM activities, customers will be dissatisfied and as a result they will switch to
another bank.
Figure-3: Illustration of Improvement of Performance
5.2.4 Findings-2: Customer Understanding
Agree 4 80%
Neutral 1 20%
Disagree 0 0%
Table-4: Customer Understanding
Table shows the response of employees understanding the customer through application of
CRM where 80% of employee’s beliefs with the opinion but 20% of them are neutral. On the
other hand no employees think that CRM don’t help them to understand their customer
Figure-4: Illustration of Customer Understanding
0%
20%
40%
60%
80%
Agree Neutral Disagree
60%
20% 20%
0%
20%
40%
60%
80%
80%
20%
0%

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5.2.5 Findings-2: Employees Satisfactory level with CRM
Agree 2 40%
Neutral 2 40%
Disagree 1 20%
Table-5: Employees Satisfactory level with CRM
Table shows the employee satisfactory level with the current CRM activities and system in
Standard Chartered Bank where 40% of employees are satisfied with the existing system but
20% employees are neutral with the opinion. On the other hand 20% percent employees think
there is scope to improve the system and application method. So if SCB has the margin to
work with their CRM activities.
Figure-5: Illustration of Employees Satisfactory level with CRM
0%
10%
20%
30%
40%
40% 40%
20%

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5.3.Research Questions to Customers
1. Does Standard Chartered provide satisfied customer service?
2. Does Standard Chartered provide separate enquiry counter for customer quires?
3. Are the procedures to open an account with the bank is difficult?
5.3.1Findings-1: satisfied customer service
Agree 6 60%
Neutral 1 10%
Disagree 3 30%
Table-6: satisfied customer service
Table shows the customer satisfactory levels with the service and system in Standard
Chartered Bank where 60% of customers are satisfied with the existing customer service and
10% customers are neutral with the service. But mentionable 30% percent customers think the
service should be more convenient and there is scope to improve the system and application
method. That means SCB providing satisfactory customer service through CRM activities but
still there is range to improve.
Figure-6: Illustration of satisfied customer service
0%
10%
20%
30%
40%
50%
60%
70%
60%
10%
30%

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5.3.2Findings-2: Separate Enquiry Counter
Agree 7 70%
Neutral 1 10%
Disagree 2 20%
Table-7: Separate Enquiry Counter
Table shows the customer satisfactory levels over separate enquiry counter for solving
problems where 70% of customers are satisfied with the enquiry counter and 10% customers
are neutral with the service. But 20% percent customers think that the numbers of counter are
not enough and they need to stand in long queue. That means, the separate counter increase
customer service but SCB must enhance numbers.
Figure-7: Illustration of Separate Enquiry Counter
5.3.3.Findings-3: Account Opening Procedure
Agree 4 40%
Neutral 3 30%
Disagree 3 30%
Table-8: Account Opening Procedure
0%
20%
40%
60%
80%
70%
10%
20%

29 | P a g e
Table shows the customer satisfactory levels over account opening procedure where 0% of
customers are pleased with the account open process and 30% customers are neutral with the
service. But 30% percent customers think that the procedures are strict to follow and need to
submit numerous documents.
Figure-8: Illustration of Account Opening Procedure
0%
10%
20%
30%
40%
40%
30% 30%

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5.4INCORPORATON OF CRM IN CONTEXT OF SONALI BANK LIMITED
Soon after independence of the country Sonali Bank emerged as the largest and leading
Nationalized Commercial Bank. As a fully state owned institution, the bank had been
discharging its nation-building responsibilities by undertaking government entrusted different
socio-economic schemes as well as money market activities of its own volition, covering all
spheres of the economy. The bank has been converted to a Public Limited Company with 100%
ownership of the government and started functioning as Sonali Bank Limited from November
15, 2007 taking over all assets, liabilities and business of Sonali Bank. After corporatization, the
management of the bank has been given required autonomy to make the bank competitive & to
run its business effectively.
Sonali Banks Limited can take several steps to strengthen their customer relationship
management in an effective manner.
5.4.1 Acknowledge email enquiries:
At the very minimum, Sonali banks Limited should send out an automated email response that
acknowledges receipt of a customer's email and lets the sender know when to expect a more
complete response.
It is then vital to get back to the customer within the promised time frame. Banks can earn more
customer goodwill if they respond faster than the imposed deadline. To handle significant
volumes of email, banks need adequate routing technology. Many banks regard a voice call
center as a cost of doing business, but they don't look at it the same way with email.
5.4.2. Develop the right contact strategy:
By knowing which offers and incentives to offer to which customers and when, banks will not
annoy customers with unwanted marketing offers, building customer loyalty along the way. Such
goals can be at least as important as realizing cross-sell opportunities.
5.4.3 Providing online `chatting':
An alternative to telephone support, online chatting is providing a service via emails or any other
form of immediate response. This service also offers some of the immediacy of the phone but
primarily allows customers to remain online. With online chatting, service agents can usually
handle between one and three customer inquiries at once.
5.4.4 Reduce costs by improving website design and self-service:
Email, telephone support, and chat all involve considerable staffing costs. But to reduce these
expenses a site should anticipate customer needs. Sites that is difficult to navigate and don't

31 | P a g e
provide needed information chase away some customers and force those who stay to resort to
more expensive channels to satisfy their service needs.
5.4.5 Analyses the project's scope:
Before recommending or embracing CRM, Sonali Bank Limited executives must analyses the
business issues, the customer relationship model and the exact nature of customer interactions
and how they tie together. Banks should not embrace top-line growth as an objective until they
can understand precisely how CRM technology will provide those new revenues.
5.4.6 Know thy limitations:
Many CRM implementations are severely limited because they fail to provide a complete and
meaningful view of the customer. CRM is primarily a business program, and it requires a
genuine partnership between various departments to ensure that both business and technology
issues are managed effectively.
Furthermore, CRM not only takes existing business processes and makes them more efficient,
but it also requires these processes to be modified. For a CRM implementation to be successful,
decision makers within the bank need to make sure that all the stakeholders understand and
support the required process changes.
5.4.7 Change accounts into customer:
Traditionally banks have closely associated customers with accounts, to the point of calling the
account the customer and vice versa. Customers will tend to feel alienated when they are treated
like a number instead of a person. A conventional account structure usually contains very little
information about customers and their needs, or their relationship with competitors or other
divisions within the bank.
The way ahead Banks have excellent reasons to adopt comprehensive CRM strategies to
cultivate a lifetime customer relationship. As banks move from transaction-centric to a
relationship-centric business approach, effective leveraging of customer relationship becomes all
the more critical.
Today, customers are expecting even more individual attention, responsiveness and product
customization, yet are unwilling to pay a premium for these services. They are willing; however,
to build a long-term relationship with banks that offers differentiated and more personalized
services.
This is where Sonali Bank can offer a competitive advantage. Successful CRM implementation
in electronic banking needs to integrate data from all customer touch points, employee feedback
and even shareholders' perceptions.

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5.5CHALLENGES FACED BY BANKS IN SUCCESSFUL IMPLEMENTATION OF CRM
The most pervasive challenges to effective customer knowledge include:
• The difficulty of obtaining a complete view of customers.
• The need to move away from disjointed, standalone, and inconsistent channels to provide
a cohesive, multichannel offering.
• The burden of disconnected legacy systems and disparate databases that store client
financial data.
• The cost and complexity of meeting stringent government regulatory and client security
and privacy requirements.
• The pressure on margins and growth prospects from increased competition.
• The costs associated with retaining customers and developing customer loyalty.
Although CRM can help Sonali Bank efficiently manage their customers, many banks fail to
meld the concept into the prevailing work culture. But the high incidence of CRM failure has
very little to do with the CRM concept itself. Usually it's a case of the banks failing to pay
attention to customer data they already have.
A lot of banks underestimate the magnitude of CRM. They tend to treat it just like any other
application technology, without realizing that CRM, if done properly, is a strategic initiative that
touches all areas of an organization.

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Chapter-6
Conclusion

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6.1 Limitations of the study:
Although we have obtained wholehearted co-operation from both employees and customers of
Standard Chartered Bank, they could not manage enough time to deal with our report. One the
way of our study, there are no written rules and procedures are maintained. Therefore we have to
note down what they are doing in their day-to-day operation so few assumption have been made
based on information gathered by primary data collection and evaluation so, there might be
scopes for personal error.
There were certain limitations regarding the study that is summarized below:
➢ Deficiencies in data required for the study.
➢ Inaccurate or contradictory information.
➢ Relevant papers and documents were not available.
➢ Many technical matters were not available.
➢ Many procedural matters were written from own observation, which may also vary
from person to person.
➢ Time provided for conducting the study is another important constraint

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6.2 Recommendation & Conclusion
Customer Relationship Management (CRM), the most exciting strategies that emerged from
networking technology revolution of the nineties, is today fast emerging is one of the most
important cooperates strategies. A well-executed Customer Relationship Strategies can result in
number of quantitative benefits, including greater ability to sell and cross sell, improved
retention besides cost of services. Customer Relationship Management is do-able.
The motivation for Standard Chartered Bank to manage their customer relationships is to
increase profitability by concentrating on the economically valuable customers, thus increasing
revenue from them.
There are some categories of critical success factors are identified which serve as the basis to
explore the success factors for CRM execution. These are information quality, system quality,
service quality, top management support, and technological readiness, key customer focus, CRM
organization, knowledge management, and technology based CRM. However the following SCB
can take into consideration to get result in more efficient way.
• In a competitive environment, the Banks should adopt suitable marketing skills rather
than depending on the trading skills. Hence, new services should be constantly introduced
to ensure the growth of the Banks and to be competitive in the market and to keep up the
enthusiasm of the employees and customers etc.
• Take pragmatic steps with a clear view on delivery of all the components in the medium
term, rather than piecemeal in the short term.
• Successful mass customization is crucial to reducing customer acquisition cost and
improving the cross selling capacity.
• Channels are a delivery mechanism. The effectiveness of the mechanism is achieved
when it is faultless!
• Customer Relationship Management implementation is effective when companies are
able to identify the internal and external customer and integrate them with its core
business process.
• The Banking sector is developing and getting higher day by day in urban and semi urban
areas; there is large number of customers using the services in the urban and semi urban
areas. So a wide scope in rural areas is expected in the days to come.
• Employee Relationship Management first before Customer Relationship Management.
• It should be realized that customer relation cannot be built overnight. CRM should be
considered as Continuous Relationship Management.
• Increase customer experience through the web site.
• Increase number of branch
• Increase number of ATM booth.

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References:
• Anton, J. and Petouhoff, N. L.(2002).Customer Relationship Management: The Bottom
Line to Optimizing Your ROI. 2nd Edition. Prentice-Hall. New Jersey.
• Chang, H.H. (2007). Critical factors and benefits in the implementation of customer
relationship management. Total Quality Management, 18(5), pp. 483-508.
• Bergeron, B., 2001. Essentials of CRM: Customer Relationship Management for
Executives. John Wiley & Sons.
• Newell, F. (2000) Loyalty.com: Customer Relationship Management in the New Era of
Internet Marketing. McGraw- Hill, New York, NY.
• Aboka, J.S. (2014). Challenges of Implementing Customer Relationship Management
System in Electronic Media Houses, Kenya. Unpublished MBA Research Project,
University of Nairobi.
• https://www.sc.com/bd
• https://www.sc.com/en/
• https://www.sonalibank.com.bd
• http://www.financialexpress.com/industry/banking-finance/empower-your-workforce-
with-next-gen-crm/1070946/

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