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CRM Strategies by Banks

Customer Relationship Management


Customer Relationship Management is the establishment,
development, maintenance and optimization of long-term
mutually valuable relationships between consumers and the
organizations.
Successful customer relationship management focuses on
understanding the needs and desires of the customers and is
achieved by placing these needs at the heart of the business
by integrating them with the organization's strategy, people,
technology and business processes.

There are three major areas that focus on customer
satisfaction sales, marketing, and service
The functionality of and between these three fields is
essential to successfully connecting a company's front and
back offices to facilitate effective, enterprise-wide
coordination.
Service is associated with the companies call centers and co-
ordinates interaction between Web, e-mail, and other
communication medias.
Need of CRM in the Banks.
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 and his/her needs & preferences, and so greater the
opportunity to tailor products and services and cross-sell the product /
service range.
Customers in long-term relationships are more comfortable with the
service, the organization, methods and procedures. This helps reduce
operating cost and costs arising out of customer error.
DENA BANK
Manager :- Pankaj Desai
9167228355/2512713278
Ulhasnagar (west)
History
Dena Bank is one of the earliest banks in India, headquartered
in Mumbai.
Dena Bank was founded on 26 May 1938, by the family of
Devkaran Nanjee under the name Devkaran Nanjee Banking
Company Ltd.
It is one of the nationalised banks of India.
It became a Public Limited Company in December 1939 and
later the name was changed to Dena Bank Ltd.
It has a network of over 1400 branches.
In July 1969 Dena Bank Ltd. along with 13
other major banks was nationalized and is
now a Public Sector Bank constituted under
the Banking Companies (Acquisition &
Transfer of Undertakings) Act, 1970.

1
st
Bank to Introduce
Minor Savings Scheme.
Credit card in rural India known as "DENA KRISHI
SAKH PATRA".
Drive-in ATM counter of Juhu, Mumbai.
Smart card at selected branches in Mumbai.
Customer rating system for rating the Bank Services.

CRM Strategies by Dena Bank
To understand the wants & needs of different segments of its
customers.
To have in place, a system to find out the level of Customer
Satisfaction.
To find out the gaps between the quality of our products &
services and the expectations of the customers.
To take utmost advantages of our IT infrastructure to bridge
these gaps.
Compensating for the losses.

GAPS
From the GAP Analysis we find that here is a
Market Communication
And also there is a GAP of service delivery.
Private sectors are more efficient and effective
than Public sector.
Measures to minimize the Gap
Banks Perspective
Providing clear roles
Removing conflicts
Matching employee job fit
Matching technology job fit.
Recognizing and rewarding
employees who deliver superior
service.
Build teams and teamwork.
Customers Perspective
By performing their ole effectively
By asking questions
By taking responsibility of their
own satisfaction
By complaining when there is
service failure
By filing up the required forms
properly so that the service staff
wont take time verifying it.


PUNJAB NATIONAL BANK
History
PNB is an Indian financial services company
based in New Delhi, India.
Registered on 19
th
may,1894 under Indian
companies Act.
Bank has over 5800 branches & over 6000
ATMs across 764 cities.
It serves over 80 million customers.

CRM Strategies by PNB
Online Trading Services
SFMS[Structural Financing Messaging System]
services
Online Assistance
Customer information
Secrecy of customers A/Cs
Readressal of complaints & grievances


PNB mainly focus on Reducing
customer defection rate:
Step1:
Define & measure its
retention rate.
Step 2:
They distinguish the cause of
customer attrition & identify
those that can be manage
better
Step 3:
They estimate how much
profit it loses when it loses
customers.
Step 4:
They figure out how much it
would cost to reduce the
defection rate.
Conclusion
Customers always look for more user- friendly products and better
interest rates when compared to other banks they have account
with, so, through product innovation and competitive pricing
strategy the bank can foster business relationship with its
customers. The gap analyzed can be minimized by better
technology, customer service and also by creating awareness about
he various services thereby increasing the customer base. So as to
retain the existing customers and to build up customer loyalty,
Customer Relationship Management should be given more
importance.
The satisfaction of the customer is more in Private sector banks
than Public sector banks. So the public sector bank has to improve
their service quality towards the customer thus they can minimize
the gap.

Thank You!!!!!!!!!!!