Customer Relationship Management in

HDFC Banks

Submitted by: Sagar Sachdev

Amity MBA 2023 batch: 4th Semester
 DECLARATION
I, Sagar Sachdev, a student pursuing MBA course 4 th semester at Amity University Online,

hereby declare that the project work entitled “A study of CRM in HDFC Bank” has been

prepared by me during the academic year 2025 under the guidance of Ms. Sabita Ma’am.I

assert that this project is a piece of original bona-fide work done by me. It is the outcome of

my own effort and that it has not been submitted to any other university for the award of any

degree.
 CERTIFICATE
This is to certify that the project work on the topic “Customer relationship Management in
HDFC Banks” is an evidence of the work carried out by me for the award of Masters degree
in Business Management.

ACKNOWLEDGEMENT
To acknowledge, I would like to express my gratitude to my mentor Mrs Sabitha P
Ma’am ,my teacher Mrs Neha Tandon Ma’am and all those who guided me in
successful completion of this project.
Working on this project was such a great experience for me as I learned many new
things that will indeed be helpful in shaping my carreer.
I would also like to express my gratitude to my friends and family members who
motivated me in completing this project.
S.No. TITLE OF CONTENTS PAGE No.
1 Abstract

2 Introduction

3 HDFC Bank

4 Concept of CRM

5 Why CRM

6 Review of Literature

7 Scope of CRM

8 CRM in Banking

9 CRM in HDFC banks

10 Benefits of CRM in HDFC banks

11 Need of the Study

12 The purpose of this project

13 Relevance of this project

14 Methodology

15 Data Collection

16 Type of Data better for data analysis

17 Research Problem

18 Steps for putting one to one marketing to work

19 Findings and results

20 CRM in banking has both positive and negative impacts

21 Analysis and Discussions

22 Limitation of CRM in HDFC banks

23 Conclusions

24 Recommendations

25 Future Directions

26 Questionnaire

27 Bibliography

Abstract
Customers play a pivotal role in developing successful marketing strategy. There exists a
unique relationship between customers and banks in the field of banking. In this project an
effort is made to study the comparative perception of HDFC customers and other nationalized
bank customers.
Extensive Research is required in the field of banking so that long-lasting relationship can be
maintained with customers.
With the implementation of CRM, the nature of banking has been changed to result oriented
from task oriented.
CRM has become multi-faceted and complex phenomenon that is ridden by many factors.

Introduction
Banking sector is customer focused where satisfaction of customer is the priority.
There is a strong need of the hour to conduct research in banking sector as it plays a pivotal
role in building long-term relationship.
CRM identifies the present and future markets and identifies the progress of existing and new
services.
CRM involves developing and maintain mutually variable and long- term relationship with
strategically significant customers.
CRM is a discipline which enables the company to target their profitable and targeted
customers.
Competition in banking sector has increased with the entry of foreign banks and setting up of
private sector. The importance of CRM has also been realized by banks.
In banking terms, Customer Relationship Management helps banks to manage their
interaction with customers and improve customer support. CRM helps to retain existing
customers by offering them personalized services. CRM also helps with identifying cross-
selling and upselling opportunities, further increasing profits.
The company first identifies the prospect, tries to convert its prospects into first time
customers and then to convert those customers into loyal ones.
CRM is also known as Key Account Management as it helps to identify the small percentage
(20%) of key account holders who contribute 80% of the revenue for the company.

What is CRM
CRM, or Customer Relationship Management, is a strategy and technology used by
businesses to manage interactions with customers, both current and potential. It involves
centralizing customer data, streamlining processes, and building stronger relationships,
ultimately aiming to increase sales and customer loyalty.
A Customer Relationship Management (CRM) job role involves managing and improving
interactions between a company and its customers. These professionals focus on building
relationships, ensuring customer satisfaction, and using customer data to drive business
growth. They might work as Customer Relation Managers, Client Relationship Managers, or
Customer Success Managers.
Airlines, travel agencies, and hotels use CRM software to streamline the booking process,
manage customer details and preferences, and loyalty programs as well as personalize their
experience to boost profitability.

 Adapting to evolving regulations:

Regulatory landscape is constantly evolving, requiring banks
to continuously adapt their CRM systems and processes to
ensure compliance.
 HDFC BANK
HDFC Bank is the largest mutual fund company in India. This bank offers a wide range of
financial products.
HDFC Bank is an Indian Financial and Banking company. It has its headquarters in Mumbai.
HDFC Bank was incorporated in the year 1994 as a subsidiary of HDFC Ltd. As per assets
and market capitalization, it is one of the largest private sector bank of India. HDFC, SBI and
ICICI banks are recognized as Domestic Systematically Important Banks (D-SIB), banks
which are too big to fail. With its 1.73 lakh employees, it is one of the sixteenth largest bank
of India. Smart-wealth app was launched in the year 2024 along with its many digital
products like Pay Zapp and Smart Buy.
Listings of equity shares of HDFC bank are done on Bombay stock exchange and National
stock exchange of India.
HDFC bank has 8735 branches and 20938 ATM’s which are spread across 3836 cities and
villages.
The network of HDFC Ltd is distributed across 737 locations and includes 214 offices of
HDFC sales Private Limited.
Total assets of HDFC bank are 43.92 Lakh crore as of 2025.
HDFC bank had 214521 employees in Financial year 2025.
The merger of HDFC banks and HDFC Ltd took place on 1st July 2023.
www.hdfcbank.com is an official website of HDFC Bank.
The merger of HDFC bank and HDFC Ltd resulted into increase in bank headcount and the
merged entity became the second largest bank of India.
 CONCEPT OF CRM
CRM is the sum total of strategies, processes, people and technology that a company uses to
attract and retain customers for the corporate growth and profit.
CRM identifies the most long-term relationship and entails how the same can be achieved.
CRM involves acquiring and partnering with selective customers to create superior value for
the company and customer.
CRM is a business strategy focused on managing interaction with potential customer. It helps
to improve loyalty, customer satisfaction and business growth.
 Why CRM
 A satisfied customer will bring more and more customers in coming years.
 Attracting new customers is more costly to retain an old-ones
 As per Pareto’s principle, 20% of loyal customers account for 80% of revenue.
 It enables individuals to enter tech industry without the requirement of knowledge
about coding.
 CRM helps business to gain more knowledge about their targeted audience and cater
to their needs.
 CRM ensures collaboration among various teams to gather each and every
information about its customers.

REVIEW OF LITERATURE
As per Body and Limayem (2004) exploration, CRM in terms of partnership, customer
empowerment and personalization impact customer loyalty in both positive and negative
ways. To build relationship with loyal customers rather selecting from a large pool of non-
loyal customers, organization can use website characteristics (Reinartz &Kumar,2002). As
per Bohling, the support of top level of management is mandatory for the success of
implementing CRM. They also identified that success of CRM was strongly associated with
the ownership of CRM at corporate level.
The CRM in banking differs from other CRM’s in respect of technology advancement and
relationship parameter.
As per Berry, Relationship marketing refers to attracting, maintaining and enhancing
customer relationship in multi-service organization. The term relationship marketing
converted to CRM after a few decades.
As per Brown(2000), CRM involves acquiring new customers, retaining existing ones and
simultaneously managing the needs of current and potential customers.

Eight Ways to keep Customers for Life

1)Every part of Marketing effort should be made for building lifetime value of customers.
2)People want to do business with friendly people. There must be a friendly environment in
business to have effective relations.
3) There should be optimistic use of IT developments as required for serving customers.
4) There must be flexibility of rules in company so that they can be bent as per customer
needs.
5) The conversation with customers must be ongoing by company even if it is not selling
anything.
6) The company should provide both social and financial benefits to develop stronger
customer base.
7) The company must posses each and every minute information about its customers
including their like/dislikes, beliefs, hobbies and lifestyle
8)The company should deliver to its customer in sync with what was promised.

CRM IN BANKING SECTOR

The banking industry is highly affected over the last few decades due to the growth in
technology.
Many industries along with banking sector were affected with evolution in technology. Many
technology-based delivery channels and payment systems were refaced.

6 Key requirements should be kept in mind by any financial organization trying to adopt
CRM-
1) That organization so created should be customer focused
2) Organization must gain proper picture regarding the type of customers
3) Rate of Return on marketing campaigns should be maximized.
4) Lifetime value of the customers must be assessed.
5) Maximize the profitability of each customer.
6) Organization should strategy to attract and retain the best customers.
Through a greater emphasis on CRM, banking industry can protect its market share and boost
growth. The banking sector in India has been running quite stable for the past 3-4 decades.
The main business of bank is to retain its customer and to see that its business process is in
sync with an overall effort to satisfy customers.
There has been a structural change in financial services where competition and customer
demands are rising.
There is a competition among banks to attain a competitive advantage over one another for
sustaining the survival due to intensifying market share, declining market share, deregulation,
smarter and more demanding customers.
 CRM IN HDFC BANK
For improvement of customer relationship and operational efficiency, the CRM system is
utilized by HDFC bank.
Ways through which HDFC bank utilizes CRM are-
1) Unified customer view:
CRM system provides a picture of an individual consumer
like his/her financial holding, transaction history etc. This in turn helps HDFC banks
in understanding the needs and demands of consumers in a more effective manner.

2)Personalized services and offers:

Artificial Intelligence and Machine learning helps HDFC
banks in analyzing customer data and predicting their needs. That customer data is used to
personalize offers and recommendations.

3) Cross- selling and Upselling:

It provides an aid in identifying potential cross-selling and
upselling opportunities. This in turn helps HDFC banks to recommend products and services
to customers that are beneficial to them.

4) Enhanced Operational efficiency:

The CRM system improves effectiveness and efficiency in task
by reducing the dependence on manual work.

5) API Integration:
CRM in HDFC banks enable seamless integration with external
parties and digital platforms by providing API’s for lead processing and case Management.

HDFC uses CRM to achieve its one bank vision for satisfying customers and enhancing sales.
CRM next has helped HDFC banks to enjoy 99.9% uptime guarantee and seamless scalability
 BENEFITS OF CRM IN HDFC BANK
 Through CRM in HDFC banks, HDFC banks have achieved a 20% reduction in
operating cost and 15% increase in customer satisfaction.
 HDFC banks can now settle the query of its customers faster than before.
 HDFC banks can now store, collect and analyze customer data from various sources.
 HDFC banks now deliver their products as per the standards set.
 CRMs provide banks with data-driven insights into customer behaviour and market
trends. This information supports informed decision-making, enabling banks to
develop and implement effective strategies for customer acquisition, retention, and
growth.
 By leveraging the benefits of CRM systems, banks can optimise their operations,
increase sales, and reduce costs, ultimately leading to increased profitability and long-
term success for financial service customers.
 NEED OF THE STUDY
In banking and retail business, customers are target of any business. This study tends to
reduce customer dissatisfaction and customer complaints. It helps to reduce the problems
faced by existing/current customers. It helps to note what to expect from customers when
they make complaint. It helps to redeem yourself when the does not work as per the standards
set. The need of CRM in HDFC bank is to strengthen the customer loyalty.
CRM in HDFC banks help to differentiate themselves through superior customer service and
tailored solutions.
In early era, issues were arising with HDFC banks in customer satisfaction due to staff
shortage, unprofessional behavior and lack of ethical conduct. No research was carried out in
the area of Artificial Intelligence and Automation.
The grievance redressal process was also not efficient and effective at that time. There was a
lack of research in comparing the quality of HDFC services with other banks like
PNB,SBI,Axis and ICICI bank.
Regulatory changes was one of the biggest challenges faced by banking industry. Banks are
required to keep in sync with various regulations from anti-money laundering to data
protection laws. It was costly and time-consuming process to adapt as per such changes so
there arouse a need for CRM in Banking.
With the evolution of technology, many new platforms have emerged for making payment
like Paytm, Phone pay, UPI, PayPal, Google Pay and Samsung Pay. Now payment can be
made by linking such apps with the HDFC bank.
 CUSTOMER LIFE CYCLE
Customer Life Cycle contains the following terms like-
1) Customer Acquisition
2) Customer Development
3) Customer Satisfaction and loyalty
4) Customer Retention
1) Customer Acquisition: Today as per the competition prevailing in the market,
attracting a new customer is difficult so CRM is used for the same.

2) Customer Development: It involves making products available to the customers as

per their needs and requirements by making right products for them available at
the right time.

3) Customer Satisfaction and Loyalty: During the modern era, the focus was on
selling more and more products to customer and earn profit but now in current era,
the customer satisfaction is equally important as customer satisfaction.

4) Customer Retention: Empasis should be given by every organization to retain

existing customers as the cost of retaining the same is quite lower than attracting
new customers.
 TYPES OF CUSTOMER RELATIONSHIP
MANAGEMENT

1) Operational CRM
2) Analytical CRM
3) Collaborative CRM

1) Operational CRM:
It gives a picture of an each and every aspect of consumer
journey. It provides features like sales automation, marketing automation and
service automation. It helps to enhance customer satisfaction, revenue and internal
communication.

Types of operational CRM are-

1)Sales Automation: Sales automation involves using software and technology to
streamline and automate repetitive tasks in the sales process, allowing sales teams
to focus on more strategic activities like building relationships and closing deals.
2) Marketing automation: It is the use of software to automate repetitive
marketing tasks, streamlining processes and improving efficiency. It allows for
automated campaigns across multiple channels, including email, social media, and
websites.
3)Service Automation: Service automation means using technology and processes
to automatically handle and streamline service delivery, making tasks more
efficient and effective. It involves automating repetitive processes and tasks within
a service, often with the goal of improving customer experience, reducing costs,
and boosting overall productivity.

2) Analytical CRM:
It analyzes the picture of each and every aspect of customer data
to gather large quantity of customer data. It helps to understand the factors
responsible for customer retention.
3) Collaborative CRM:
It is also known as strategic CRM. It focuses on customer
satisfaction, customer service, customer retention than customer acquisition.
Banking sector should invest in collaborative CRM to deal with customers and
managing customer satisfaction. Collaborative CRM helps to improve customer
service, retain existing customers and make customer data available for multi-
channel interaction.
The purpose of this project is to
1) Assist banks in gathering information about their customers.
2) Helps in managing customer interactions by keeping a detailed check on each and
every consumer.
3) Check your current processes and suggest improvement in case if any in those
processes.
4) It helps in training of the staff members regarding new workflow and CRM software.
5) It helps to pin-point those factors which are impacting the productivity and suggest
improvement if any.
6) Salesforce Financial services cloud is the best CRM for financial services as it
provides advanced analytics and seamless integration with existing banking systems.
7) CRM in banking helps to implement right marketing campaigns to enhance loan sales
and profit growth.
8) CRM in banking helps to identify the requirements for change and the financial
impact of the same.
 Relevance of the project
CRM is quite relevant in banking as it helps in managing customer interactions across all
channels. It helps to enhance customer service and drive business growth. It helps to enhance
profitability of customers, enhanced loyalty and increase retention rate. It helps in improving
resource allocation by interaction of banks with their customers, this in turn improves overall
efficiency. It also helps in tracking the products that are generating the most revenue in
different locations.
CRM in banking is also helpful in maintaining long lasting relationship with their customers.
CRM in banking helps to detect fraud which in result in safeguarding customer’s interest.

Methodology
CRM in research Methodology is the blend/mix of practices, strategies and technologies used
by companies in managing and analyzing customer interactions and data throughout the
lifecycle of customer.
It involves designing the business processes to achieve the overall designed objectives and
guaranteeing customer satisfaction.
Key elements of research methodology used in CRM for Banks are-
Data Collection:
This involves gathering data from various sources like-
1) Primary Data:
It refers to the data collected for the first time by researchers for their
research needs.
Modes of gathering information through Primary Data are-
 Questionaires
 Surveys
 Interviews
 Experiments

2) Secondary Data:
It refers to the data collected by someone else earlier. It is available in
refined form.

3) Sampling Procedure:
Check the appropriate size of the sample to ensure its
representativeness.

4) Feedback Mechanism:
Collecting feedback from shareholders ensures relevance of the
project

DATA ANALYSIS
 Data Analysis is the process of examining, extracting etc. data to meaningful
information and uncover hidden patterns. It involves making use of statistical
techniques to improve business practices and predict trends.

Key aspects of data analysis are-

1) Data Collection:
It involves making uses of raw material including databases and other
sources.

2) Data cleaning:
It helps to ensure accuracy and reliability by identifying and correcting
inconsistencies in the data.

3) Data Transformation:
It involves translating the raw data into format understandable for
users.

4) Data modelling:
Using statistical or machine learning models to identify relationship,
patterns and trends in data.

5) Data interpretation:
Analyzing the results of the modelling process to draw conclusions,
identify insights, and make predictions.

6) Data visualization:
Presenting the findings by making use of visuals, graphs and other visuals.

CRM Data Analysis in banking sector involves making use of customer data in
predicting needs, understanding behavior and to improve interactions. It involves
using various strategies to enhance customer satisfaction.
 The following is the detailed overview of how CRM is used in Banking

1) Data Collection and storage:

Various channels are used by banks to collect data like
online banking, mobile apps and third-party resources.

2) Data Analysis:
It involves analyzing the data of customers to identify the groups with
similar characteristics.

3) Improved Customer Relationship:

It helps to maintain interaction and increased customer satisfaction
and loyalty. It also helps in improving customer retention, increased sales and
optimized operations.

In conclusion, data analysis plays a critical role in banking CRM by enabling

banks to understand their customers better, improve interactions, and drive
business growth.

Data Collection
Methods of Data Collection can be:
1) Qualitative Data
2) Quantitative Data

1) Qualitative Data:
It is a descriptive information that focuses on concepts,
characteristics and experience rather than on numbers or
figures.
It is collected through methods like- interview, focus groups
and observations.

Methods of collecting Qualitative Data are-

1)Interviews- To explore individual experiences and perspectives.
2) Focus groups- It involves group discussions on a topic.
3) Documents: It means analysis of a written material like field notes and diaries.
4) Observations: It involves recording behaviors in natural settings

Examples of Qualitative Data are-

1)Interview scripts
2)Field Notes
3) Images
4)Open ended survey

Analysis:
It involves identifying patterns, themes etc to understand the information behind
the data.
2) Quantitative Methods:
It is number based, countable or measurable. It is interpretation-
based, descriptive and related to language. Quantitative tells us how much, how many
and often in calculations

Examples of Quantitative Data collection are-

 Measurements: Height, Weight, Temperature and length.
 Counts: Number of students in a class, number of customers etc.
 Percentages: Sales figure, Rate of production base etc.
 Time: Duration of an experiment, time required to complete it.

Uses of Quantitative Data:

1) Research- To analyze relationship between variables and test hypothesis
2) Business- To measure customer satisfaction and analyze market trends.
3) Science- It helps in conducting experiments and drawing conclusions
4) Decision Making- It helps to make informed decisions regarding objective
data.
Qualitative and Quantitative Data
1) Quantitative Data is number based which can be measured whereas
Qualitative Data is based on social reality of individual like their beliefs or
attitudes.
2) Quantitative Data is fixed and universal whereas Qualitative Data is
subjective and unique.
3) Quantitative Data is analyzed using statistical analysis while Qualitative
Data is analyzed by grouping data into categories and themes.
4) Examples of qualitative data are Qualification, gender, religion and
Method of Treatment. Examples of Quantitative data are- Age, height,
Weight, Income and number of errors.
 Most preferred Data for Data Analysis
Quantitative data:
It is structured so can be formatted, organized, arranged
and searchable. This type of data can be measured and results can be drawn in
numerical terms.
Think of a situation when this type of data is found in spreadsheet then
everyone would lie on excel formulas.
This type of data provides access to the product analysis, helps in funnel
analysis and maps customer journey
In case of surveys and questionnaires, every person replies differently so it
becomes easier to check the number of people who replied in a specified
manner.
Qualitative Data:
This data is unstructured, subjective, individualized and
personalized. Due to this reason, Qualitative Data is inferior as it only tells
about the quality, features etc.
True pictures of the facts and figures cannot be drawn.

But still qualitative data is valuable and is used in data analysis.

 Type of Data better for Data Analysis
Quantitative Data is more precise and clear as numerical information on any facts and
figures cannot be false. So Quantitative Data is mostly preferred for Data Analysis.

But for better information and to gather complete picture of facts, both Quantitative
and Qualitative data are used.
 RESEARCH PROBLEM
Modern Marketing includes the concept of CRM that is a delight for customers. In the
banking area, a unique relationship exists between the bank and its customers. Most of the
banks are following the traditional ways of marketing and only a few banks are making an
attempt to adapt to traditional CRM. The researcher made an attempt to launch CRM in
banking industry to improve banking services. A common research problem when
implementing CRM in banks revolves around effectively leveraging CRM technology to
enhance customer relationships and business outcomes, while addressing the unique
challenges of the banking sector.
This problem encompasses several key areas:
1) Lack of a clear CRM strategy:
Many banks struggle to define a clear CRM strategy that
aligns with their overall business goals, leading to siloed systems and ineffective use
of data.

2) Data silos and integration challenges:

Banks often have legacy systems that are not easily
integrated with a CRM system, resulting in fragmented customer data.

3) Difficulty in measuring ROI:

It can be challenging to track and measure the specific
impact of CRM on customer loyalty, retention, and revenue growth.

4) Difficulty in understanding customer needs and preferences:

Banks need to effectively capture and analyze customer
data to understand their needs and preferences, which can be challenging in a complex
and competitive environment.

5) Adapting to evolving regulations:

Regulatory landscape is constantly evolving, requiring
banks to continuously adapt their CRM systems and processes to ensure compliance.
 Steps for putting one to one marketing program to
work-

Step 1: Identify your customers

The company must contact with its potential customer to know their details like name, habit
and preferences.

Step 2: Differentiating your customers

Customers differ in two principal ways like they have different needs and possess different
value. Once the customers are identified, differentiating them will help to gain the most
valuable customers.

Step 3: Interacting with the customer

Interaction just not only occur through sales and marketing channels, customers interact in
many other ways with different organization.

Step 4: Customize your enterprise’s behavior

To maintain a relationship with the customer, a company must adapt to the changing
requirements of the customers.
 Findings & Results
CRM in banks helps in various aspects of their operations like-
 Enhanced Customer Service
 It helps in increasing Profitability
 It helps to improve operational efficiency
 It is useful in streamlining processes
 It provides an aide in gathering valuable data for making decisions

Customer Relationship Management in Banking has both

positive and negative impacts.
Positive impacts of Customer Relationship Management in
Banking are-
1) Enhanced customer experience
2) Improved customer service
3) Increased customer retention
4) Boosts sales and revenue
5) Improved Decision Making

1) Enhanced customer experience:

It helps in understanding
customer needs in a best possible manner which enhances sales.

2) Increased customer retention:

It helps to address of customers, strengthens the
customer base and in turn enhances customer retention.

3) Improved decision making:

CRM provides valuable
insights and data that helps banks in making informed decisions.

4) Streamlined operations:
CRM automates various banking
procedures like account application and bank management.

5) Effective Marketing:
It allows banks to target customer segments
via marketing efforts which in turn enhances marketing campaign.
Negative impacts of Customer Relationship Management
in Banking are-
1) Integration with legacy system:
Integration of CRM with existing legal system can
be complex and challenging.

2) High implementation cost:

Setting up a CRM system can be costly process.

3) Employee training and adoption:

There is a strong need to training and proper adoption
of banking system for proper implementation of CRM in banks.

4) Data quality and Management:

It is necessary to maintain accuracy and quality of
customer data in order to ensure effectiveness of CRM.
Analysis and Discussions

CRM in banking analysis each and every customer separately to build the trust of
customers, their long-term loyalty and customer satisfaction. CRM in banking helps
to place customers in the heart of organization.

Banks that want to grow and expand the business and expand the profitability should
do the following-
1) Win back the trust of lost customers
2) Try to increase profit from existing customers.
3) Acquiring new customers and retaining existing customers.
 Limitations of CRM IN HDFC BANKS
 Data quality issues as incomplete or inaccurate data can lead to flawed analysis and
poor decision making.
 Lack of availability of financial, human and technological constraints may limit the
ability to conduct in depth analysis.
 It can be a challenging task to collect large amount and representative sample of
HDFC bank customers.
 High implementation cost of CRM

CONCLUSIONS
To conclude, I would like to say that CRM in Banking is an attractive tool as it involves
maximizing the rate of return on investments, understanding how to attract new customers
and retain old ones. The structure of financial system is changing whereby the demand of
customers are increasing.
 RECOMMENDATION

I would recommend banks to follow below mentioned practices in case if they want to
improve customer loyalty, drive revenue growth and enhance customer experience:

1) Leverage CRM for customer retention and loyalty:

Customer Retention is necessary for a business and CRM in banking plays a
significant role in achieving this which in turn enhances customer loyalty.

2) Utilize CRM for cross-selling and up-selling:

CRM can be used for identifying opportunities to cross-sell and up-sale
products and services to existing customers which helps to enhance revenue growth.

3) Invest in training and technology:

Banks should invest in robust CRM systems which turn provides adequate
training to employees and delivers excellent customer service.

4) Continue and improve existing practices:

The banks rather giving up the existing practices should
continue with the same and try to make additions/ adding of value in those practices.
 FUTURE DIRECTIONS

Future directions for CRM in Banking practice are-

1) Banks can integrate CRM with other banking systems for maximum customer
engagement.
2) Banks should check scalability in their CRM so that it could adapt as per the
changing customer’s needs.
3) Banks can use AI-powered CRM that can figure out the type and needs of customers.
 QUESTIONNAIRE

1) Who are your customers?

a) Wholesaler
b) Retailers
c)Both

2) Are your customer’s needs clearly defined?

a) Yes
b) No

3) Do you conduct customer satisfaction surveys?

a) Yes
b)No
4) Do you communicate the results of your customer satisfaction regularly
throughout the company?
a) Yes
b)No
5) Do you actively seek out customers comments and compliments?
a) Yes
b) No

6)How you receive the feedback from your customers?

a) Face to face interview
b) Toll free numbers
c) Other means

7)Do you provide credit facility to your customers?

a) Yes
b) No
8)Do you provide discounts/ gifts or coupons to your regular customers?
a) Yes
b)No

9)Do you have a concept of internal system?

a) Yes
b) No

10)Do you communicate with your customers frequently?

a) Yes
b) No

11) Is the working environment suitable for the well-being of employees?

a) Yes
b) No
12) Role played by computers in serving the customers?
a)Big Role
b)Little Role
c)No role at all

13) Specific or any different system to extract customer information?

a) Yes
b) No

14) Has average sale per customer been improved?

a) Yes
b) No
15) Is there any improvement in the customer response rate to Marketing activities?
a) Yes
b)No

16) Do you regularly review the business process to eliminate non-value adding activities and
improve customer satisfaction?
a) Yes
b) No

17) Is there commitment from top management to support the customer-focused service
concept?
a) Yes
b) No
 BIBLIOGRAPHY
1) https://www.walkme.com/blog/crm-customer-relationship-management-in-banks/
#crm-in-banks-overview: Introduction to CRM
2) As per Brown (2000): CRM involves acquiring new customers, retaining existing
ones and simultaneously managing the needs of current and potential customers.
3) As per Berry: Relationship marketing refers to attracting, maintaining and enhancing
customer relationship in multi-service organization.
4) As per Body and Limayem (2004): exploration, CRM in terms of partnership,
customer empowerment and personalization impact customer loyalty in both positive
and negative ways