CRM in Banking
Customer Relationship Management in Banking with a case on HSBC
A Project Report presented to
Dr. Shweta Dixit
Faculty Member
Narsee Monjee Institute of Management Studies
Mumbai
on
March 21, 2007
in
Partial fulfillment of the academic requirements for the
Part Time MBA Programme
by
Mr. Kapil Bhatia (03)
Preface
The service industry has always been of vital component of all economies. It has become more so these days. From the agricultural and the industrial economy, the emphasis is now gradually shifting to the service economy. One of the key players among the service industry is the Banking Sector.
Everyone is aware of the importance of satisfying customers. And you have to satisfy your customers in order to be competitive. If your customer is not satisfied with your service, he will stop doing business with you. Satisfied customers will however, do more business with you more often.
Customers rightly expect a lot when it comes to their banking needs. In addition to convenience through next-generation ATMs, online banking, and bill pay services, customers demand top-notch service when they walk into a bank's branch office. There are various instances when a customer leaves the bank branch, dissatisfied without his problem being resolved or the query answered. Such a customer might not stop banking with that bank immediately, but yes, if he is getting the same service each time, then he might think of changing his bank or transferring his money in another bank. This is where customer service comes into picture.
Banking industry is very competitive today. Banks are in a constant rat race to grab as many customers as possible. As much investment can be taken from the customer as possible. As such, the concept of CRM becomes of utmost importance for banks today in order to retain their existing customers and enhancing the relationship value with them.
While attending customers on
A Project Report presented to
Dr. Shweta Dixit
Faculty Member
Narsee Monjee Institute of Management Studies
Mumbai
on
March 21, 2007
in
Partial fulfillment of the academic requirements for the
Part Time MBA Programme
by
Mr. Kapil Bhatia (03)
Preface
The service industry has always been of vital component of all economies. It has become more so these days. From the agricultural and the industrial economy, the emphasis is now gradually shifting to the service economy. One of the key players among the service industry is the Banking Sector.
Everyone is aware of the importance of satisfying customers. And you have to satisfy your customers in order to be competitive. If your customer is not satisfied with your service, he will stop doing business with you. Satisfied customers will however, do more business with you more often.
Customers rightly expect a lot when it comes to their banking needs. In addition to convenience through next-generation ATMs, online banking, and bill pay services, customers demand top-notch service when they walk into a bank's branch office. There are various instances when a customer leaves the bank branch, dissatisfied without his problem being resolved or the query answered. Such a customer might not stop banking with that bank immediately, but yes, if he is getting the same service each time, then he might think of changing his bank or transferring his money in another bank. This is where customer service comes into picture.
Banking industry is very competitive today. Banks are in a constant rat race to grab as many customers as possible. As much investment can be taken from the customer as possible. As such, the concept of CRM becomes of utmost importance for banks today in order to retain their existing customers and enhancing the relationship value with them.
While attending customers on