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PARIDNYA- The MIBM Research Journal

Articles

Volume 9, Issue 1, January 2023

Study the Role of Customer Relationship Management (CRM) in Banks

Published
2023-01-01

Abstract

Banking institutions face significant challenges, which include international competition for funds, loan repayments, and processing fees; rising customer demands; narrowing profit margins; and the necessity to keep up with emerging technologies. Banks have actually realized that CRM software is the only way to maintain long-term relationships with their clients. Maintaining client relationships necessitates close collaboration among various departments within the bank, including service, information technology, sales, support, and marketing.

The Indian banking industry is currently facing a dynamic challenge in terms of both client base and performance. Customer relationship management (CRM) is based on the fundamental model of bank marketing, which aims to offer customers the best market alternative possible through a relational exchange process. CRM is the most valuable component of banking because of the role it plays in the industry and the ways in which CRM methodologies contribute to increasing customer value.

Keywords

  • Customer Relationship Management (CRM)

How to Cite

Yambal, S. S., & Khan, S. N. (2023). Study the Role of Customer Relationship Management (CRM) in Banks. PARIDNYA- The MIBM Research Journal, 9(1), 01–06. Retrieved from http://www.mibmparidnya.in/index.php/PARIDNYA/article/view/172915

References

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