Customer Relationship Management In Banking Sector

Customer Relationship Management (CRM) can help organizations to manage customer interactions more effectively to maintain competitiveness in the present economy. Organizations realized the significance of becoming customer-centric in today¿s competitive era; they adopted CRM as a core business strategy and invested heavily. CRM is a combination of people, processes and technology that seeks to understand a company's customers. Money has become one of the most important elements in human life. Banks are the ideal places for the transaction and circulation of the money. Because of growing demand banks are now scattered all over India. Banking industry is growing rapidly, India's banking system is the largest one in the world, in terms of number of branches. Now-a-days the banking sector is marked by high customer expectations and technological innovations. CRM is playing a prominent role in day-wise operations of banks.