A Case Study on Customer Relationship Management (CRM) in the Banking Sector

Abstract: Customer Relationship Management (CRM) came into the power when banking institutions were getting more and more competitive. The focus of CRM helped banks to understand the customers’ current needs, what they have done in the past, andwhat they plan to do in the future to meet their own goals. Even though most of the banks in the developing countries such as: Pakistan, India etc. have realised the importance of CRM and implemented its applications, but the initial investigations of the current research have shown that quite a number of CRM goals does not produce required results and even worse, in some cases users say that CRM has damaged customer relationships.

Introduction: Today, banking institutions face many challenges including global competition for deposits, loans, underwriting fees, increasing customer demands, shrinking profit margins, and the need to keep up with the new technologies. According to Onut et al., (2006), banks and other service providers realise the importance of Customer Relationship Management (CRM) and its potential to help them acquiring new customers, retain existing ones, and maximize their lifetime value. Customer Relationship Management (CRM) came into the power when banking institutions were getting more and more competitive. The focus of CRM helped banks to understand the customer’s current needs, what they have done in the past, andwhat they plan to do in the future to meet their own goals.
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