A Study on the Impact of Customer Relationship Management of South Indian Bank in Bangalore City

Authors

  • K. P. Anjana Student, Department of Commerce, Kristu Jayanti College, Bengaluru, India

Keywords:

banking sector, customer service, customers, CRM, employees

Abstract

The banking sector in India is the oldest financial service sector that has transformed into a modern system that is customer oriented and largely driven by technology which has been highly effective in keeping pace with the competition and increasing customer expectation. Ever since globalization and liberalization, the advancements in banking sector such as internet banking, mobile banking, automated teller machine (ATM), Wallet payments and the like, have resulted in complex operations to the sector alongside providing increased benefits to the customers. As customers are a crucial component of every banks and the banking sector, this necessitated customer satisfaction, customer creation and retention which was achieved through ‘Customer Relationship Management’ (CRM). This had an immense influence on customers and long-term efficiency which not only helped banks to focus on customers’ current needs but also helped banks to perform better and plan their future goals. In this context, this research paper intends to highlight on the importance of adopting CRM practices in the current day banking sector, its impact on the performance of banks, banking business and customers; and the benefits that could be derived by the banking sector by way of implementing appropriate tools and techniques. The study is empirical in nature and is based on primary data collected from customers of South Indian Bank in Bangalore city, using a structured questionnaire and secondary data were collected from various published articles and reports. Respondents were chosen using Simple random sampling. The data was analysed and interpreted using SPSS by applying statistical tools like regression and correlation analyses to support the study. The research highlighted that South Indian Bank was considerate about its customers’ needs, ensuring customers’ satisfaction, maintaining good relations, enabling faster transactions, being cooperative in resolving their issues and providing an overall positive banking experience. The study concluded that CRM is an important aspect for banks as it enables them to understand its customers better, to uncover potential customers and to improve the overall customer service, which also serve as a competitive advantage to the bank.

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Published

16-11-2021

Issue

Section

Articles

How to Cite

[1]
K. P. Anjana, “A Study on the Impact of Customer Relationship Management of South Indian Bank in Bangalore City”, IJRESM, vol. 4, no. 11, pp. 64–68, Nov. 2021, Accessed: Oct. 16, 2024. [Online]. Available: https://journal.ijresm.com/index.php/ijresm/article/view/1509