CRM in Southeast Bank Limite2

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Customer Relationship Management In

Southeast Bank Limited

[09th January, 2012]


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Customer Relationship Management of Southeast bank limited

Submitted to:

Barota ChakrabortyLecturer

Dept. of marketing

Jahangirnagar University

Submitted By:

Md. Oli AminID: 1339

Dept. of Marketing

1st

batch

3rd

year, 1st

semester

Jahangirnagar University


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Acknowledgement

At first I want to pay my gratitude to all mighty Allah for preparing the reportsuccessfully. Then, I want to pass my gratefulness to our honorable course

instructor, Barata Chakrabarty, for giving me the opportunity to prepare a formal

report and for giving me an overall concept on the customer relationship

management. Her contribution to me can only be acknowledged but never be

compensated. Thanks to the writer of the book Customer relationship

managementnt that made my work a lot easier. At last I want to thank my

respected course teacher once again for giving me such an opportunity, which will

enhance my knowledge


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Introduction:

Southeast Bank Limited is a private commercial bank in Bangladesh. It was

established on 1995. It offers all kinds ofcommercial corporate & personal

banking services covering all segments of society. Diversification of products &

services include corporate banking, retail banking & consumer banking right from

industry to agriculture, and real state of software.

Southeast bank provides various commercial banking products & services to

corporate

clients, small & medium entrepreneurs & retail

customers in

Bangladesh. It offers current accounts, saving accounts, short notice deposits,

fixed or term deposits, monthly saving schemes & non- resident foreign currency

accounts. The company also offers home loans, car loans, working capital, export

import financing, project finance, packaging credit etc.


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Customer Relationship Management:

In literature, many definitions were given to describe CRM. The main difference

among these definitions is technological and relationship aspects of CRM. Some

authors from marketing background emphasize technological side of CRM while

the others considers it perspective of CRM. From marketing aspect, CRM is

defined by [Couldwell 1998] as .. a combination of business process and

technology that seeks to understand a companys customers from the perspective

of who they are, what they do, and what they are like. Technological definition

of CRM was given as .. the market place of the future is undergoing a technology-

driven metamorphosis [Peppers and Rogers 1995]. Consequently, IT and

marketing departments must workclosely to implement CRM efficiently.

Meanwhile, implementation of CRM in banking sector was considered by [Mihelis

et al. 2001]. They focused on the evaluation of the critical satisfaction dimensions

and the determination ofcustomer groups with distinctive preferences and

expectations in the private bank sector. The methodological approach is based on

the principles of multi-criteria modeling and preference disaggregation modeling

used for data analysis and interpretation. [Yli- Renko et al. 2001] have focused on

the management of the exchange relationships and the implications of such

management for the performance and development of technology-based firms

and their customers. [Yuan and Chang 2001] have presented a mixed-initiative

synthesized learning approach for better understanding ofcustomers and the

provision ofclues for improving customer relationships based on different

sources of web customer data. [Peppers 2000] has also presented a framework,

which is based on incorporating e-business activities, channel management,

relationship management and back-office/front-office integration within a

customer centric strategy. He has developed four concepts, namely Enterprise,

Channel management, Relationships and Management of the total enterprise, in

the context of a CRM initiative. [Ryals and Knox 2001] have identified the three

main issues that can enable the development of Customer Relationship

Management in the service sector; the organizational issues ofculture and

communication, management metrics and cross-functional integrationespecially

between marketing and information technology.


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Why there is CRM in Southeast Bank Limited ?

Customer relationship management has been as important to the banking industry

at the start of the 21st

century as it has been to any other industry. Southeast bank

have used CRM tools to acquire more customers & to improve relationship with

them.

Customer service & retention

y More competition & increased regulation made it more difficult for

Southeast bank to stand out from the crowd. However , the development ofCRM gave proactive banks access to technology that helped them to

improve customer retention by using customer feedback to offer

conveniences like ATMs and online banking. Southeast bank can also use

CRM tools to improve customer loyalty by using data collected through

customer sign-ups, transactions and feedback processes.

Call Centers

y

Bank call centers use CRM solutions for various purposes. Cost-driven callcenters use CRM to track call transactions and troubleshooting techniques to

fine-tune the service resolution process. Metrics like average handle time

and customer feedback ratings help bank call centers improve their customer

support for retention. Profit-driven call centers also leverage CRM customer

account records for add-on selling opportunities.

Sales

y Sales has taken on more importance in Southeast bank with the evolution of

CRM. Bundling of products and premier customer accounts are examples oftechniques used by Southeast bank to build single-product customer

accounts into full product suites including a range of financial services. With

CRM software, bankers can easily see what products you currently use, what

products you are eligible for and what the benefits are should you add the

additional product or service.


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How Southeast Bank Limited apply CRM ?

Actually there is no CRM department in Southeast Bank Limited. But they

have relationship management department which works like CRM

department. Some functions that have done by them are:

1. Customer advising

2. Internet banking

3. SEBL card

4. Event organizing

5. Locker service

6. SMS service

7. Complaint cell information


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Services of Southeast Bank Limited

Conventional Banking

Savings (SB) Account

Current (CD) Account

Short Notice Deposit (SND)

Fixed Deposit Receipt (FDR)

Double Benefit Scheme (DBS)

Monthly Savings Scheme(MSS)

Millionaire Deposit Scheme (MDS)

Islamic Banking

Mudaraba Savings (SB) Account

Al - Wadiah Current (CD) Account

Mudaraba Short Notice Deposit (MSND)

Mudaraba Term Deposit Receipt (MTDR)

Mudaraba Double Benefit Scheme Mudaraba Monthly Saving Scheme (MMSS)

Mudaraba Millionaire Deposit

Mudaraba Hajj Sanchay Prokalpa

Loans & Advances

Working Capital Finance

Overdraft (OD)

Project Finance

Syndicated Loan

Packing Credit

Loan Against Trust Receipt


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SME Banking

SEBL Services

Dual Currency VISA

Credit Card

SEBL ATM / Debit Card

Virtual Card

Remittance Business

Western Union

SWIFT Services

Locker Services

ATM Services

Internet Banking Services

Bill Payment Services

E-Statement Services


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The Value Discipline Model:

Product Leadership:

It involves focusing investment and energy into developing the product that is the

newest or most revolutionary which offer the best product.

Operation Excellence

It involves building business processes that provide the best product quality, best

price, and the best purchasing experience yielding the best total costto

customers.

Product

Leadership

Operation

ExcellenceCustomer

Intimacy


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Customer Intimacy

It involves building long term profitable relationship yielding the best total

solution to customers.

In my point of view, Southeast bank limited follows the product leadership value

discipline model. Because they try to give best product or service to the customer.

For this, they offer various services to the customers.

But this doesnt mean that they only focusing on product. They also need to

maintain strong customer intimacy as well as operation Excellency. Otherwise,

they will not able to sustain the market. For this, they provide the

competitive

offer.

Product Centered Culture versus Customer Centered Culture

Product Centered Culture

A product centered company is one that makes plans and decisions based on an

internal perspective.

Customer Centered Culture

Acustomer centered company has an external point of view, making plans and

decisions based on the anti

cipated impa

ct on the

customer.

I think, Southeast bank limited have both cultures. They know their ability to give

services & they also think about their customers wants. They make their decision

by thinking about their products & also about their customers.


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Conclusion

Customer relationship management is the strongest & most efficient approach inmaintaining & creating relationships with customers. Customer relationship

management is not only pure business but also ideate strong personal bonding

within people. Developing of this types of bonding drives the business to new

levels of success.


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References

Judith W. Kincaid, Customer Relationship Management.

Semih Onut,Ibrahim Erdem, Customer RelationshipManagement in Banking Sectorand A Model Design for Banking Performance Enhancement.

www.southeastbank.net

www.southeastbank.com.bd

Documents

CRM in Southeast Bank Limite2