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Integration of Personalized Service Delivery with Information Technology : Future of CRM in Indian Banking


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1 Professor, Amity Business School, Amity University, Sector 125, Noida , Uttar Pradesh, India
     

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This study aimed to critically review the state of customer relationship management (CRM) in Indian banks on the basis of secondary data, information available, and our own experiences both as customers and a banker [first author of the paper has an experience of 17 years in the Banking sector]. With the advent of professionally managed private sector banks in India in 1993, the focus of CRM has shifted from personal relationship to technology driven module based relationship management with minimal personal touch. Notwithstanding all the noise about implementation of ambitious CRM plans by Indian banks, they have not been able to impress customers because of cross selling overdrive at the cost of customer delight. There is an urgent need to integrate information technology enabled solutions using big data analytics with tailor made personalized relationship management for which an integrated CRM Model has been proposed in this paper.

Keywords

Customer Relationship Management, CRM, CRM in Indian Banking, Indian Banks, Big Data Analytics, Integrated Model of CRM

G200, G210, M300, M310

Paper Submission Date : June 3, 2016 ; Paper sent back for Revision : August 1, 2016 ; Paper Acceptance Date : November 20, 2016.

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  • Integration of Personalized Service Delivery with Information Technology : Future of CRM in Indian Banking

Abstract Views: 221  |  PDF Views: 0

Authors

Ramesh Kumar Bagla
Professor, Amity Business School, Amity University, Sector 125, Noida , Uttar Pradesh, India
Anurupa B. Singh
Professor, Amity Business School, Amity University, Sector 125, Noida , Uttar Pradesh, India

Abstract


This study aimed to critically review the state of customer relationship management (CRM) in Indian banks on the basis of secondary data, information available, and our own experiences both as customers and a banker [first author of the paper has an experience of 17 years in the Banking sector]. With the advent of professionally managed private sector banks in India in 1993, the focus of CRM has shifted from personal relationship to technology driven module based relationship management with minimal personal touch. Notwithstanding all the noise about implementation of ambitious CRM plans by Indian banks, they have not been able to impress customers because of cross selling overdrive at the cost of customer delight. There is an urgent need to integrate information technology enabled solutions using big data analytics with tailor made personalized relationship management for which an integrated CRM Model has been proposed in this paper.

Keywords


Customer Relationship Management, CRM, CRM in Indian Banking, Indian Banks, Big Data Analytics, Integrated Model of CRM

G200, G210, M300, M310

Paper Submission Date : June 3, 2016 ; Paper sent back for Revision : August 1, 2016 ; Paper Acceptance Date : November 20, 2016.




DOI: https://doi.org/10.17010/pijom%2F2016%2Fv9i12%2F107007