Customer Satisfaction-CRM in Canara Bank

Project Report on Customer Satisfaction-

Customer Relationship Management in
Canara Bank
Case Study on CRM in Canara Bank

Dissertation on Customer Relationship Management in Banking Industry in
India


Abstract

The business of banking can neither function without customers nor does just acquiring a certain
number of customers do the business. It is a continuing process of transactions culminating in a long
term banker-customer relationship. Banking institutions thrive more on keeping old customers happy
rather than getting new customers. No banks can possibly meet all the needs of its customers given to
the diversity of their wants. In such a situation the secret key factor of the bank's success is effective
Customer Relationship Management. CRM is being increasingly used to identify, attract and retain most
valuable customers that help business to sustain profitable growth, successful banking companies are
achieving long term performance in customer relationship management by gaining deep insights about
their customers which help them design product/ service offerings that match or exceed the customer
expectations which in turn help in building customer trust and gain loyalty.

A customer is the core component in the banking i n d u s t r y. T h e b u s i n e s s o f b a n k i n g c a
n neither function without customers nor does just acquiring a certain number of customers do the
business. It is a continuing process of transactions culminating in a long term bankercustomer
relationship. Banking institutions thrive more on keeping old customers happy rather than getting new
customers, no banks can possibly meet all the needs of its customers given to the diversity of their
wants. In such a situation the secret key factor of the banks success, is effective CRM. CRM is neither
a product nor a service, but a business strategy designed to optimize profitability, revenue and
customer satisfaction. CRM is a paradigm shift from product centric and mass marketing to customer
centric way of business. It is an integrated business strategy that places the customer at the center of
business consciousness. It is comprehensive strategy and process of acquiring, retaining, and partnering
with customers to create superior value for both the banker and the customers across the whole
organization.

Customer Perception about CRM in Banks

Customers who contact any bank expect two things: a solution to their problems relating to the
banking transactions and treatment as someone special. Speed and time taken to render service is
taken care of with personal interaction with customers, courtesy and competence in discharging their
study, managing the expectation of customers, maintaining good attitude and customer liaison, and
Long term relationship with customers.

Statement of the Problem

Banking has today become an extremely competitive business. Banks in the pell-mell rush for achieving
efficiency and gaining technology are facing the danger of forgetting this fundamental premise. For the
years, banks have been guilty of five interpersonal sins, that have caused tremendous irritation to
customers, inability to crossell, long queues, poor service attitude lack of information and lack of
humility that prevent them from maintaining good customer relationship. In the light of this
development it seems pertinent to focus on the study of the quality of banking service, and the banker
customer relationship.
Source:SCMS Journal of Indian Management; Jul-Sep2012, Vol. 9 Issue 3, p99-108

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