CRM In Private Banking And Its Significance

Abstract

           The lack of understanding and standardization on customer relationship management is always a concern among the service sector. Failure to promote the learning organization spirit many time left the organization handicapped with the new concept like CRM. This paper aimed to examine the implementation of CRM practices in banking services. Through several analyses on the differences, several demographic indicators were tested against the implementation of CRM. In attempting to explore the outcome of CRM implementation, two constructs focusing on information technology & information system, and service support were selected for the purpose of analyzing their influence on the CRM. The administration of data was performed by using self-administered questionnaire where data were collected cross-sectionally by using purposive sampling. A quantitative survey was completed by assessing 90 respondents among the staff of ICICI in twin city of Odisha from 6 branches. The finding generated from the investigation is expected to provide useful insights to the banking industry and ICICI Bank in particular in determining factors that can influence the understanding of CRM. The result indicated that of the seven selected demographic indicators, all of them demonstrated that there were no significance difference as to their understanding and implementation of CRM. The evidence from the survey is expected to provide an insight about the importance of CRM in strengthening the banking industry.