CRM comparision between Dena Bank and HDFC Bank

8/4/2019 CRM comparision between Dena Bank and HDFC Bank

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ACKNOWLEDGEMENT

We would like to thank the Manager of DENA BANK,

Mrs. Chitra Ramakrishnan as well as the Manager of HDFCBANK, Mrs. Sushma Reddy.

We are indebted to the reviewer of the project Prof.

Sivabhagyam, our project guide for her support and

guidance. We would sincerely like to thank her for all her

efforts.


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We would also like to thank our Principal Mrs. Minu

Thomas, Banking and Insurance co-ordinator Mrs. Aarthi

Kalyanraman.

Last but not the least; we would like to thank our

parents for giving the best education and group members

for their support and contribution without which this

project would not have been possible.

INTRODUCTION

DENA BANK


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Dena Bank was founded on 26th May, 1938 .In

July 1969 Dena Bank Ltd. along with 13 other major

banks was nationalized.

MISSION AND VISION STATEMENT

Mission:

DENA BANK will provide its

Customers - Premier financial services of greatvalue


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Staff - Positive work environment and opportunityfor growth and achievement

Shareholders - superior financial returnsCommunity - economic growth

Vision:

DENA BANK will emerge as the most preferred

Bank of customer choice in its area of operations, by


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its reputation and performance.

WHAT DENA BANKS LOGO DEPICT?

The logo ofDena Bank depicts Goddess

Lakshmi, the Goddess of Wealth, according to Hindu

mythology.

It was the desire of the founding fathers of theBank that the Bank should be a symbol of prosperity

for all its clients, and the logo represents this promise.


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The contemporary D in the logo reflects the

dynamism, dedication and the drivetowards customer

satisfaction.

MANAGEMENT HIERARCHY


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HDFC Bank


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MISSION STATEMENT

WE UNDERSTAND YOUR WORLD

INTERVIEW

1. What is the UNIQUE SELLING POINT of your bank?

DENA BANK


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Since DENA BANK is a nationalized bank, they do not

have any USP. Its branches itself is their USP. All

branches of DENA BANK have selling point in

common.

HDFC BANKIts USP is their priority. HDFC BANKS USP is also their

personalized touch. They make sure their every

customer is satisfied on the spot. They greet their


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customers properly. They provide services within the

period promised by them. E.g.: Opening of a new

account.

2. Why should CRM system be chosen? What

advantages does it provide?

CRM should be chosen so that it helps us inattracting more customers. The better the service

we provide, the better is our customer satisfaction.


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Advantages of DENA BANK:

In the previous years DENA BANK used to provide

just one page of Customer Relationship form, but

now-a-days it provides 8-9 pages per Customer

Relationship form. This includes information regarding

Savings Bank A/c, Overdraft facility, cash credit, Auto

Loan, etc.

-KYC (Know Your Customer Norms)


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-CBS (Core Banking Solutions)

Advantages of HDFC BANK:It helps to keep records of individual customers. If

one of the employees in the bank remains absent, on

the desk, and then another employee can provide

relevant data on reference of the ID proof.


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3. How does your CRM co-ordinate with customers?

DENA BANKCash and every staff member is a CRM Executive as

there is no particular CRM Department. They co-ordinate with every customer.

HDFC BANK


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E-mail, writing, courier, sending personnel of HDFC,

welcome kits for new account opening.

4. How does CRM influence the service quality ofbanks?

DENA BANKOur branches are more and manpower is less. CRM

has improved since everyone adopts it.


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HDFC BANKIf a customer has a complaint, we treat it as a query

and make sure we resolve it as soon as possible.

5. How much effort do you take to improve the CRM

structure?

DENA BANKWe take maximum effort. We arrange Customer

meetings on every 15th of the month along with the


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Branch manager at the meet. The suggestions given

by the customers are considered and we take steps toinitiate it as soon as possible.

HDFC BANKThe Walk-in customers suggestions are considered.

Feedback system of our bank is also automated.


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6. What is the strongest point? PEOPLE, PROCESS OR

TECHNOLOGY (PPT)?

DENA BANKi. PEOPLE- because it improves the quality of the

task since humans put in the 'input' and

'technology gives the output.

ii. PROCESS- because the process is systematic as itco-ordinates people as well as technology.


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iii. TECHNOLOGY- It i9s the enabler to accuracy and

speed.

HDFC BANKi. TECHNOLOGY- technology is given more

preference as it is a privatized bank.

ii. PEOPLE- as they help to enhance technology.iii. PROCESS- and this eventually leads to a process.


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7. How does your bank differ in crm from other bank?

DENA BANKAll branches of DENA BANK have the same CRM

structure, 5 polite employees are better than 20 rude

employees.

HDFC BANKWe dont think we have any competition.


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8. What are the expectations from CRM for the next 5

years?

DENA BANKGood business state of art technology, quality

customers. Last but not the least customer delights.

HDFC BANK


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If CRM exists, there would be no walk in customers.

Everything would be done through internet and smsbanking, tele banking.

9. Do you ask your customers for feedback orsuggestion regarding CRM?

DENA BANKYes we do ask for feedback. Higher executives such as

importers, exporters, along with the general manage


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YES, through internet banking

HDFC BANK:Yes, the various forms of e-CRM are Phone-

Banking, Tele-Banking, etc.

11. Do you think CRM is the essence of Banking?

DENA BANK:


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Yes, it is. Since it is Customer oriented and it is

vital in nature. CRM exist because of Customers.

HDFC BANK:Yes. It is essence of Banking.

12. Do you adopt Software as a Service or Demand

Computing or Cloud Computing in your CRM

Structure?


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DENA BANK:We do adopt Software as a Service.

HDFC BANK:We have mixture of both i.e. Demand Computing

and Cloud Computing.

13. Do you feel failure in information technology is a

failure in CRM?

DENA BANK


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YES, it is nowadays a machine driven but earlier

such transactions were recorded in ledgers &journals. Therefore, the system is important.

HDFC BANKYES, 70% of failure in information technology is a

failure in CRM.


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14. What do you feel is important in CRM? Customer

retention or Customer satisfaction? Why?

DENA BANKIf customer is satisfied automatically there will be

customer retention. The customer will also remains

constant. Customer additions are due customer

satisfaction and customer retention.


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HDFC BANKIf the customer is satisfied, the customer will alsoretain.

15. What type of customer do you have?

1. Initial customer.2. Repeat customer.3. Advocate customer.


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CONCLUSION:

From our experience after visiting both the banks-

DENA BANK and HDFC BANK, we come to the

conclusion that DENA BANK is better than HDFC

BANK.


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Following are the reasons in which DENA BANK is

better:

ADVANTAGES: KYC (Know Your Customers), CBS(Core Banking Service).

CORDINATES: Each and Every staff is a CustomerRelationship Manager.

EFFORTS: Meetings every 15th of the month.


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EXPECTATION: Good business, State of arttechnology, Quality customers, Customer delight.

ESSENCE: Customer oriented, Vital in nature.FAILURE IN INFORMATION TECHNOLOGY:Machine driven replacing Journals and ledgers.

TYPES OF CUSTOMERS: Initial customers are asequal as Customer advocates.

PERSONAL EXPERIENCE.


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Following are the reasons in which HDFC BANK is

better:

UNIQUE SELLING POINT: Greet them, Confrontthem, Personalized touch.

DIFFER: No COMPETITORS.


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GROUP MEMBERS

ANKUR SINGH CHAUHAN 05RENITA COUTINHO 06ANKITA JAIN 16FORUM KARIA 18


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SNEHA MEHTA 26AMRITA MENON 28SELVALAXMI HARIDAS 42

Documents

CRM comparision between Dena Bank and HDFC Bank