Premium Essay

Crm in Banking

In: Business and Management

Submitted By rastogiprashant
Words 1420
Pages 6
I.T.S - INSTITUTE OF MANAGEMENT GREATER NOIDA Announces

National Seminar on Ethical Imperatives for Contemporary Business Organisations
20th & 21st January, 2012

Venue of the Seminar Seminar Hall, I.T.S- Institute of Management 46, Knowledge Park III, Greater Noida-201308 Ph: 0120-2331000/1062/1069, 9212180556 E Mail ID: imseminar@its.edu.in Website: www.itsim.edu.in

About I.T.S-The Education group
I.T.S is a fast growing education group in Northern India. Established in 1995 with its first campus at Ghaziabad, the Group has more than 700 faculty members and 9000 students in 8 Institutions located at 4 campuses. With the prime objective of providing quality education and building on its reputation, the l.T.S Group has evolved as a brand amongst the premier educational institutions in the field of Management, Information Technology, Engineering, Dental, Biotechnology, Pharmacy, Paramedical Sciences and related vocational courses. The vision of I.T.S - The Education Group is "Creating a Thinking Professional Order", and the group makes incessant endeavors to create learning processes in response to the changing managerial paradigms.

About ITS-Institute of Management
I.T.S - Institute of Management aims to provide excellence in management education and intends to become first choice for management aspirants. The Institute is strategically located at Knowledge Park III, Greater Noida in National Capital Region (NCR). Greater Noida was strategically conceptualized to be an industrial centre for growth of industrial units with knowledge parks for imparting management education, engineering education and other areas of education. I.T.S – Institute of Management offers AICTE approved two years full time PGDM programme. It is an ISO 9001:2008 certified institution which has received Rashtriya Shiksha Shiromani Award in 2010 for imparting quality management...

Similar Documents

Premium Essay

Crm in Banking Industry

...RELATIONSHIP MANAGEMENT | CRM IN BANKING INDUSTRY | Submitted by- Kartikeya Vairagare 046 laxita Chauhan 048 Manvendra Gautam 050 Mohit dave 053 Pranit Bhagat 055 Piyush Shende 057 Shambhavi Singh 078 | Introduction In recent time, we has witnessed that the World Economy is passing through some intricate circumstances as bankruptcy of banking & financial institutions, debt crisis in major economies of the world and euro zone crisis. The scenario has become very uncertain causing recession in major economies like US and Europe. This poses some serious questions about the survival, growth and maintaining the sustainable development. However, amidst all this turmoil India’s Banking Industry has been amongst the few to maintain resilience. The tempo of development for the Indian banking industry has been remarkable over the past decade. It is evident from the higher pace of credit expansion, expanding profitability and productivity similar to banks in developed markets, lower incidence of non- performing assets and focus on financial inclusion have contributed to making Indian banking vibrant and strong. Indian banks have begun to revise their growth approach and re-evaluate the prospects on hand to keep the economy rolling. 1. HISTORICAL BACKGROUND Bank of Hindustan was set up in 1870; it was the earliest Indian Bank. Later, three presidency banks under......

Words: 12208 - Pages: 49

Premium Essay

Crm in New Age Banking

...BANKING PROJECT | October 2 2011 | ABSTRACT: The pulse of this era says that for a successful venture customer relationship management (CRM) is to recognized as a widely acceptable concept. In simple words to understand CRM we can consider it another name for the banker customer relationship. Macro-economic factors like globalization, liberalization and modernization has given it a new form. Today’s CRM requires real time interaction than that of the earlier times. Focus of various banks has changed from attracting customers to retaining as well as attracting new customers. Ensuring safety and at the same time efficiently utilizing resources is need of hour.The report presented is an initiative to address the issues and status of CRM with focus on evolution and background of this concept. How the technology has helped CRM in new age banking is also discussed here. | CRM IN NEW AGE BANKING | VIVEK SHARMA 10BSPHH011019 SECTION: C CONTENTS 1. Abstract 2 2. Introduction 3 3. Evolution of CRM 4 4. Customer relationship management 5 5. Overview of Indian banking sector 7 6. CRM in new age 12 7. Role of IT in CRM implementation 14 8. Present scenario 18 9. Conclusion 20 Abstract The pulse of this era says that for a successful venture customer relationship......

Words: 4655 - Pages: 19

Premium Essay

Crm - Literature Review

...Management in Banking Industry and its Implementation Issues | For: Research Methods: Literature Review | Words: 1016 | Abstract The war between companies for customers is getting tougher every day. Companies need to find other ways and methods in order not only to attract new customers but more importantly to retain the existing ones. In order to do so, companies are always looking for the best alternatives than can be offered to their customers; thus trying to engage customers to long-term relationships through offering them products and services that they need the most. One of the best ways to achieve that is by starting to implement the Customer Relationship Management (CRM) strategy. Through this strategy companies will be able to acquire long term benefits, bigger customer base and a safe business future and this is exactly what this paper will show us. Here we are going to talk about CRM issues (barriers) and its implementation ways in banking industry. Many banks try to implement it; some of them fail to do it because they fail to execute its process correctly or lack management cooperation. The others that succeed construct a clear plan and train their employees effectively in order to execute it. More details about this research topic, how it works and how it fails, will be discussed. Table of Contents Abstract 2 Table of Contents 3 Introduction 3 Literature Review 4 CRM in Banking Industry 4 Implementation Barriers of CRM 4 How CRM......

Words: 1571 - Pages: 7

Premium Essay

Customer Relationship Management

...on their own understanding and investigations of the different types of CRM systems or applications across different industry settings. The scope of the CRM topic can be relatively narrow or broad. Some suggested, but not definitive topics might include the following: |Business case for CRM systems adoption |Strategic value of CRM systems | |How CRM creates value for customers |Cloud computing and CRM systems | |Managing networks for CRM performance |Using CRM to managing supplier relationships | |Data mining CRM |Web Services and CRM | |IT requirements for CRM |The CRM Interaction centre | |CRM outsourcing |CRM Marketing automation | |CRM applications for small business |CRM and Service delivery | |CRM systems in banking |CRM systems implementation | |Mobile CRM...

Words: 1331 - Pages: 6

Premium Essay

Hilton Hotels Case

...CRM – The Strategic Imperatives G. SHAINESH Professor of Marketing Indian Institute of Management Bangalore shaineshg@iimb.ernet.in Session Coverage • Explosion of CRM in Marketing and IT • Enablers for the Growth of CRM • Criticality of Customer Relationships • Why Businesses Should Adopt CRM? • Implementing CRM G. Shainesh. IIM Bangalore 2 Explosion of CRM in Marketing & IT • Academics as well as practitioners • Conferences • Journals – Special Issues • Associations & Forums • Centers for CRM • IT Solutions – Siebel, E.piphany, Oracle, SAP, Sage CRM, Microsoft Dynamics, SugarCRM, Salesforce G. Shainesh. IIM Bangalore 3 Enablers for the Growth of CRM • Emergence of service economy, • Emergence of market economy, • Global orientation of businesses, and • Aging population of the economically advanced economies G. Shainesh. IIM Bangalore 4 Enablers for the Growth of CRM ---1 • Emergence of service economy – 60-80% of GDP of developed nations – ~56% in India – greater customer orientation in services due to simultaneity / inseparability – Services early adopters of CRM • hotels, airlines, banking, financial services, telecom and retailing. G. Shainesh. IIM Bangalore 5 Enablers for the Growth of CRM----2 • Emergence of market economy – Deregulation of industries across the world in the 90s • banking, telecommunications, broadcasting and airlines – Market oriented economy necessitated customer focus and boosted the......

Words: 1241 - Pages: 5

Premium Essay

Rbc Case Study

...CRM-Case Analysis Customer profitability and customer relationship management at RBC financial group Submitted by Team Pandavas (Team 3) Bhawna Gupta (P131011) Deepak C (P131015) Esha Pandey (P131016) Magdalene (P131021) Shashank (P131032) Overview: The RBC is the largest Canadian financial institution with 12 million clients worldwide having 60000 employees and 700 products. It owns 270 billion dollars of assets .Earlier, there was healthy competition between the major players .As a result of globalization, foreign players started giving competition, therefore different banks started to differentiate themselves with their competitors by devising their strategies in line with their expertise. Following this the conventional system of brick and motor banking got challenged with the advent of internet banking, increasing the customer convenience. The 4 pillars of RBC (banking, trust, securities & insurance) had to be modified to correlate and find a unique value proposition to the customer .All banks realized that they needed an IT solution to strategize their future outlook. What were the glitches of RCB? RBC’s value perception in the minds of the Canadian public was not robust .The bank was not able to differentiate itself from its competitors by offering a unique value proposition and continuously pivot by aligning its strategies to the changing market conditions. Competitors offered specialized products at lower interest rates and white labeling that......

Words: 559 - Pages: 3

Premium Essay

Assignment

...MGT631 Course Title: Customer Relationship Management Class: MBA/BBA Semester: IV/VI Section: Specialization Batch: 2010-12 Max. Marks: 20 Date of Allotment: 27th Feb 2012 Date of Submission: 22nd March 2012 Important: To be read before filling up the Plan format. |S.No |Reg No |Objectives of Academic |Topic |Organization/Ind|Evaluation Criteria | | | |Activity | |ustry | | |1 |10807822, 10900338 |The objectives of this |Each group of two students will be assigned an |Telecom Industry|CRM Strategies of the two companies | | | |academic activity is |industry from which they have to identify two | |-4 Marks | | | |mainly focused:- |organizations and gather information about | |Methods used by companies for | | | |a) To encourage |initiatives taken by these organizations for:- | |Acquisition of data- 4 Marks | | | |students for |Compare: |...

Words: 667 - Pages: 3

Premium Essay

Customer Profitability Analysis

...management (CPM) is a strategy-linked approach to identifying the relative profitability of different customers or customer segments in order to devise strategies that add value to most-profitable customers, make less-profitable customers more profitable, stop or reduce the erosion of profit by unprofitable customers, or otherwise focus on long-term customer profitability. Businesses often employ two systems to make sure business processes run efficiently, Customer Relationship Management (CRM) system and an Enterprise Resource Planning (ERP) system. A CRM system deals with managing valuable customer data and enriching it through interactions with marketing and customer support. An ERP system generally handles customer information that is required once orders have been placed. Both CRM and ERP systems independently offer substantial benefits to businesses. Once both systems are integrated it will allow for connectivity between the two, providing even more advantages to businesses. With CRM and ERP integration, organizations can focus more on driving new business and less on the hassles of trying to make data available. Customer profitability analysis attempts to analyze, manage, and improve customer profitability. Activity based costing (ABC) has created a framework for companies to examine more closely the causes of their costs in order to improve management decisions and corporate profitability. Companies initially focused on product profitability are now using ABC......

Words: 1372 - Pages: 6

Premium Essay

Banker

...Hesham Mohamed Ahmed AL-Sayyad 15 wahba street in EL-saieda zienab Cairo, Egypt Tele: (02) 27924859 Mobile: (0100) 2628664 E-mail: Hesham.elsaiad @hotmail.com Banquemisr E-mail: hishammae@banquemisr.com |objective | | |Seeking a challenging position in a multinational or a local organization where my educational background and skills can be applied | | |and further developed. | | | | |education | | |2004-2008 Cairo University Cairo, Egypt | | |Faculty of Commerce, Accounting Dept. | | |Grade: good ...

Words: 592 - Pages: 3

Premium Essay

Internet Customer Acquisition Strategy at Bankinter

...and low-cost provider of financial services. In 1992, Bankinter started to change its strategy by closing some of its branches and focusing more on product and channel-oriented marketing. In line with its innovative positioning, Bankinter was the first Spanish bank to offer telephone, electronic and internet banking. In 1999, as part of their polarization strategy, Bankinter launched its e-collaborator program aiming to attract new Internet customers at low cost. Branch 8700, Bankinter’s Internet branch, experienced rapid growth leading to decreases customer acquisition costs and increases in costumer acquisitions. After its alliance strategy with highly trafficked dominant online portals that proved to be cost-intensive and didn’t lead to new customer acquisitions, Bankinter launched its e-collaborator program in 2001. E-collaborator is a low-cost acquisition tool placing banners on Websites that link the user directly to ebankinter.com, Bankinter’s online site launched in 1997. As it is a very cost-effective program, it resulted in lowering per customer acquisition costs while increasing new customer acquisitions. Apart from that, Bankinter established an elaborated CRM system, which provided them with important information on customer profitability and allowed them to gain a competitive advantage. However, Internet customers appeared to be less loyal than traditional brick-and-mortar customers. Customer acquisition and customer retention are two of the main challenges......

Words: 688 - Pages: 3

Premium Essay

Mkt230 Appendix D

...Associate Level Material Appendix D Customer Relationship Management (CRM) Review the examples of Customer Relationship Management (CRM) characteristics found in the table below. In your own words describe at least three activities that represents each characteristic of a CRM plan; share of customer, lifetime value of a customer, customer equity or high-value customers. |Characteristic |CRM Activity | |Share of Customer |Share of customer is a percentage of an individual customer's purchase of a product that | | |is a single brand. As one example I would like to use the “As Seen on TV”, products. Even | | |though it is not just one brand this firm offers incentives that would allow the customer | | |to continue purchasing products from them. Another example would be a food brand name | | |“Kellogg's”. This brand name food product has constant sales on their product and markets | | |the food to be healthy and nutritious. This draws in not only the customer but children as| | |well. The last example would be “Victoria Secrets”. Though they offer semi-annual sales | |...

Words: 534 - Pages: 3

Premium Essay

Effectiveness of Credit Risk Management on the Financial Performance of Philippine Universal Banks

...Universal Banks Banks are considered to be in the business to safeguard money and other valuable of the clients; provide loans, credit and payment services; and even offer investment and insurance products. This financial institution is also critical in handling and surviving different types of risks. The issue on credit risk has greater concern on the level of perceived risk from business conditions, since this risk most likely prompts bankruptcy. The turmoil in the banking industry highlights the effectiveness of credit risk management. Credit risk management is a structured approach to managing uncertainties through risk assessment, developing strategies to manage it, and mitigation of risk using managerial resources (Achou & Tenguh, 2008). Its quality is the main indicator of the bank’s financial soundness. Boahene et all (2012) stressed that default of loans and advances shows serious setbacks not only for borrowers and lenders but also to the entire economy of a country. Studies of banking crises all over the world have shown that poor loans (asset quality) are the key factor of bank failures. In one of the published report of Asian Banker Research (2011), Philippine banks are considered to have high consumer risk and slow loan demand. It only means that most of the Philippine banks are still slow on the growth level of their lending portfolio because of the gradual improvement in risk management and collection abilities. This relates on the poor......

Words: 1585 - Pages: 7

Premium Essay

Lazada

...1.0 :Introduction 1.1 Background of study This research on system use by the Lazada Company which connected good to activities and also customer use. This report was requested by Miss Rahiza Ranom, lecturer of Management Information Technology. It was asked for on 22 May 2015. 1.2 Objective Objective of the report are to depict to overall of e-commerce through the following grounds: 1.1.1 to study the current system used by the Lazada Company 1.1.2 to study critical evaluation on the contribution of information system in Lazada Company 1.1.3 to identify the weakness of the Lazada Company 1.3 Scope This report inpected on e-commerce of Lazada Company can be beneficial to the society especially in Malaysia. 2.0 : Literature Review 2.1 History of Lazada Company Lazada Company in Malaysia is part of Lazada Group which operates business in Southeast Asia’s well-known as an online shopping and selling destination in Vietnam, Singapore, Philippines, Indonesia, Malaysia and Thailand (Lazada.com.my, 2015). Lazada Company is pioneering e-commerce in the region, Lazada Company had provides customers with a graceful shopping experience to access to the largest customers base in Southeast Asia (Lazada.com.my, 2015). This is their website http://www.lazada.com.my/marketplace/ 2.2 Definition of e-commerce E-commerce is an Electronic Commerce. According to the (Molla and S.Linker, 2015) the definition of the e-commerce is conceptualizations covering a plethora of......

Words: 1717 - Pages: 7

Free Essay

Researchmethod Blocka

...Introduction In this assignment, it will firstly analyse the difference between various data sources and then it will evaluate both pros and cons in each source. Finally ,I will summarize which source I prefer and which is suitable for a available type of information. I have chosen my topic which I will enable use a wide quantity of information sources.Therefore,I will show the topic as I am posing for dissertation purposes,it is as follow; “The impact of the Internet on customer relationship marketing strategy in banking sector in the UK” I have chosen this topic about the impact of correlation between the Internet and customer in banking industry because there is plenty of wide information in different sources in order to compare advantages and disadvantages.However,I have chosen topic that specific about Customer Relationship between Bank sector and Internet and also looking for the impact of the Internet influence to customer relationship. Moreover,I have specified more narrow about the scope of my research just in the UK to understand clearly.Therefore,each data source which I have used should be very update and focus just only on the UK. Therefore ,I have aimed advantage from the quality of data sources ,namely Business Source Premier/Ebdco(BSP),Nexis UK,Google Scholar and Guardian newspaper to research my topic. Online Databases First step for this resource is to access the Sheffield Hallam Shuspace website,I then log on in order to......

Words: 1580 - Pages: 7

Premium Essay

Vinamilk

...Research Centers > CRM Research Center > The ABCs of CRM Customer Relationship Management Research Center [pic] The ABCs of CRM • What is CRM? • What is the goal of CRM? • That sounds rosy. How does it happen? • Are there any indications of the need for a CRM project? • How long will it take to get CRM in place? • How much does CRM cost? • What are advantages of hosted or on-demand CRM vs. on-premise and vice versa? • What are the keys to successful CRM implentation? • Which division should run the CRM project? • What causes CRM projects to fail? • What industries are leading the way in CRM implementations? • Which industry is behind the curve? What is CRM? Advertisers CRM stands for Customer Relationship Management. It is a strategy used to learn more about customers' needs and behaviors in order to develop stronger relationships with them. Good customer relationships are at the heart of business success. There are many technological components to CRM, but thinking about CRM in primarily technological terms is a mistake. The more useful way to think about CRM is as a strategic process that will help you better understand your customers’ needs and how you can meet those needs and enhance your bottom line at the same time. This strategy depends on bringing together lots of pieces of information about customers and market trends so you can sell and market your products and services more effectively. What is the goal of CRM? The idea of CRM is that......

Words: 1661 - Pages: 7