The impact of information technology on customer relationship management in banking industry

Information technology (IT) is concerned with the use of technology in managing and processing information, especially in large organizations. In particular, IT deals with the use of electronic computers and computer software to convert, store, protect, process, transmit, and retrieve information. A key challenge to businesses in the 21st century is implementing an information infrastructure that enables rapid responses to competitive pressures and the capability to survive into the future. CRM strategies are dependent on an information infrastructure comprised of various technologies that enable organizations to store, access, analyze, and manipulate large amounts of customer data. Adapting business process with IT infrastructure and facility is a key competitive advantage in banking industry and also it is important for CRM implementation and customer satisfaction. Although in banking industry technology alone is not a key to success and banks have to focus on four areas: 1- Internal customers ((employees)) needs, 2- Technology, 3-Business process, 4- Customers needs.