17433383 Crm in Banking Sector

7/30/2019 17433383 Crm in Banking Sector

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CUSTOMER RELATIONSHIP

MANAGEMENT (BANKING)

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WHY CRM IN BANKING ????

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Consumers largely select their banks based on how

convenient is the location of bank to their homes or offices.

The pressures of competitive and dynamic markets have

contributed to the growth of CRM in the Financial Services

Sector.

Analysis suggests that a 5% increase in customer retention

can increase profitability by 35% in banking business, 50% in

insurance and brokerage, and 125% in the consumer credit card

market.

Private Banks have traditionally viewed themselves as

exceedingly 'Customer Centric' offering what they believe to

be highly personalized services to the High Net Worth

Customers.

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INTRODUCTION

Traditionally, few people changed their banks unless

serious problems occurred.

Today, financial institutions can no longer rely on thesecommitted relationships or established marketing

techniques to attract and retain customers.

The Internet revolution.

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Need for CRM in the banking industry

A Relationship-based Marketing approach has the following

benefits: -

Over time, retail bank customers tend to increase their holding of

the other products from across the range of financial products /

services available.

Long-term customers are more likely to become a referral

source.

The longer a relationship continues, the better a bank can

understand the customer.

Customers in long-term relationships are more comfortable with

the service, the organization, methods and procedures.

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CRM- An investment?

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Private banking and CRM

Private Banks have traditionally viewed themselves asexceedingly 'Customer Centric' .

They believe in the concept of The wealthier the

customers, the more demanding they are.

The first step towards successfully winning, of private

banking is to understand what customers wants and needs

are.

Their prime focus is to create differentiated customer

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Customer experience

To be a credible player in the market, a private bank mustbe able to deliver this customer experience.

These are widely categorized in three sections they are :

The Basic Customer Experience.

The Segment-Specific Experience.

The Organization-Specific Experience.

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CRM software

As the financial market system is questioned and people areseeking for alternative way of doing business CRM might be

effective in the following way:

Communicating with your customers.

Checking unusual movements on your account.

Providing tremendous opportunities to your clients.

Managing customer's questions flow.

Secure the banks business models .

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Gale Force CRM for Banking

Key Benefits of Implementing such CRM software forBanking:

360-Degree Client View.

Manage Leads & Opportunities.

Automate Team- and Role-based Processes.

Generate Executive Reports.

Regulatory Compliance & Security.10


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EXAMPLES

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STATE BANK OF INDIA

Banking Subsidiaries - State Bank of Bikaner and Jaipur(SBBJ), State Bank of Hyderabad (SBH), State Bank of Indore(SBIr), State Bank of Mysore (SBM), State Bank of Patiala(SBP), State Bank of Saurashtra (SBS) and State Bank ofTravancore (SBT).

Foreign Subsidiaries - State bank of India International(Mauritius) Ltd.,State Bank of India (California), State Bank ofIndia (Canada) and INMB Bank Ltd, Lagos.

Non- banking Subsidiaries - SBI Capital Markets Ltd

(SBICAP), SBI Funds Management Pvt Ltd (SBI FUNDS), SBIDFHI Ltd (SBI DFHI), SBI Factors and Commercial ServicesPvt Ltd (SBI FACTORS) and SBI Cards & Payments ServicesPvt. Ltd. (SBICPSL)

Joint ventures - SBI Life Insurance Company Ltd (SBI LIFE).12


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STATE BANKOF INDIAOFFERSITSPRODUCTSAND

SERVICESINDOMAINSLIKE -

Personal Banking.

NRI Services.

Agriculture.

International. Corporate.

SME.

Domestic Treasury.

"SBI now provides your Account Balance and Transaction details

over phone round-the-clock. Information on deposits & loan

schemes and services also available. Call 1800112211 (tollfree from

BSNL/MTNL) or 080-26599990."

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PUNJAB NATIONAL BANK

Punjab National Bank (PNB) is the second largest government-owned commercial bank in India.

It has more than 3.5 crore customers.

It has one of the largest branch networks in India.

The bank's assets for financial year 2007 were about US$60

billion.

It has introduced Money Gram remittance service in

collaboration with Thomas Cook India Ltd and UAE Exchange

& Financial Services Ltd.14


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PRODUCTSAND SERVICES

Savings Fund Account - Total Freedom Salary Account, PNB Prudent

Sweep, PNB Vidyarthi SF Account, PNB Mitra SF.

Account Current Account - PNB Vaibhav, PNB Gaurav, PNB Smart Roamer.

Fixed Deposit Schemes - Spectrum Fixed Deposit Scheme, Anupam Account,

Mahabachat Schemes, Multi Benefit Deposit.

Scheme Credit Schemes - Flexible Housing Loan, Car Finanace, Personal

Loan, Credit Cards.

Social Banking - Mahila Udyam Nidhi Scheme, Krishi Card, PNB Farmers

Welfare Trust.

Corporate Banking - Gold Card scheme for exporters, EXIM finance.

Business Sector - PNB Karigar credit card, PNB Kushal Udhami, PNB

Pragati Udhami, PNB Vikas Udhami

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ALLAHABAD BANK

In April 24, 1865, the Bank was founded at the

confluence city of Allahabad by a group of Europeans.

In October, 1989,United Industrial Bank Ltd. mergedwith Allahabad Bank.

In February, 2007, the Bank opened its first overseas

branch at Hong Kong.

In March 2007, bank's business crossed Rs.1,00,000

crores mark. 16


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SERVICES

All Ayushman Bima Yojana

Cash Management Services

Depository Services

Visa Cum Debit Card Services Real Time Gross Settlement

National Electronic Funds Transfer

Gold Card Scheme For Exporters.

Charter for MSME's

Government Business

Regional MSME care centers 17


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UNION BANK OF INDIA

Union Bank of India was inaugurated by the

Father of the Nation, Mahatama Gandhi, on

November 11, 1919.

It cater to all the sectors of the society, be it

agriculture, industry, trade and commerce,

services or infrastructure and rendering services,educational, housing and trade sector.

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SERVICES

Deposits Accounts

Loans

Cards

Insurance

Cash Management Service Mutual Funds

Demat

ATMs

E Banking Or OnlineBanking

Remittance Service

Bill Payment Service

Tax Payment Service

Atm Banking

Tele Banking

Online Demat Trading

Cash Management Services

Mutual Funds Railway Tickets Booking

8% Tax Saving Bonds

Public Provident Fund (PPF)

Direct Tax Collection

Central Excise and Service Tax

Collection Services

Special Savings Schemes for Senior

Citizens 19


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Documents

17433383 Crm in Banking Sector