E-CRM in Indian banking industry: A tool for survival in technology ERA

Customer is the king in kingdom of Marketing and Banking has no exception to it. Today is the day of information and technology. Now-a-days customers buying decisions are not based simply on the quality of the product but with the relationship they have with the company. Banking industry has gone through drastic changes due to GLP economy in one hand and on the other hand accepting deposits and giving advances is no more sole function of banks. It needs to expand its services to wide variety of products. Customer Relationship Management is about creating the feel of comfort in this high tech environment. The ultimate performance of a bank depends upon the satisfaction of its customers. E-CRM, which is the latest buzzword in the corporate sector, is perceived as one of the effective tool in this direction by the banks. With the extensive use of technology and automation of banking operation i.e. e-banking, the term E-CRM has been propounded to mean practicing customer relationship management parallel with technology. The present paper attempts to analyze the concept of e-CRM in Indian banks from its various dimensions covering specifically its concept, benefits, techniques used in e-CRM.