“A Study on CRM and E-CRM” [Conceptual Framework on Customer Relationship Management in Indian Banking Industry]

Banks are in constant interaction with customers. A winning and proven strategy for the banking industry is to put the customer in the centre of the business model and make customer the focus. To build customer loyalty, and ultimately customer protagonism the banks must render a superior customer experience. CRM (Customer Relationship Management) and E-CRM (Electronic Customer Relationship Management) is an opportunity that banks can avail to increase advantages by developing actual relationships with the customers. Trust and Convenience is a major benefit provided to the customers of the banks. E-CRM improves and maintains transactions security of the customers. On account of factors such as rise in the depositor base of banks and an increasing tendency among the new generation banks to diversify into web enabled services, the number of net bank registrations has sky rocketed. World- wide trend shows that net banking is perceived as a convenient and fast way of doing banking business and is fast gaining grounds. This work is outcome of a review of various research studies carried out on Customer Relationship Management and Electronic Customer Relationship Management. This paper examines importance of E-CRM and various techniques of E-CRM in banking institutions in India. Many companies, organizations, and communities in India have now begun to take advantage of E-CRM.