CRM In Banking Industry

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There is a lot of published literature in the form of annual reports, journals, magazines which provide data specific to the banking industry. The data gathered in this chapter is specifically for the purpose of the current operations and practices of CRM in the banking industry and gives me different viewpoints to look at the concepts related to CRM. The company profile of the bank of study is mentioned below: 4.1 ING VYSYA BANK ING Vysya Bank is a private bank based in Bangalore which performs services like banking, financial services and insurance. ING is a global financial institution of Dutch origin offering banking services through its operating company ING Bank and holding significant stakes in the listed insurers NN Group NV and Voya…show more content…
The bank advertises an entire series of financial products and services, arranged under three strategic areas of business: retail, private and wholesale banking. Retail banking With 527 divisions and 10 counters, 28 satellite agencies and 470 ATM's throughout the nation, ING Vysya's retail operation provides checking of accounts, savings deposits/CD's, services related to retail wealth management, loans to consumers, agricultural/rural banking and retail life insurance offerings. The bank has rapidly extended its distribution trail and has shaped a national brand presence through various ground breaking marketing campaigns. Private banking ING Vysya's private bank functions as an advisory-driven model. The bank’s focus is on specialized market research for the introduction of new custom-made products to attend to the high-end private banking segment. Corporate/wholesale…show more content…
The part of New Private Sector Banks, Old Private Sector Banks, Foreign Banks, and Regional Rural Banks in aggregate deposits was 13.6 per cent, 5.1 per cent, 4 per cent and 2.9 per cent, respectively. Nationalized Banks had the highest share of 51 per cent in gross bank credit and was followed by State Bank of India and its Associates with 22.7 per cent and New Private Sector Banks with 14 per cent. Foreign Banks, Old Private Sector Banks and Regional Rural Banks had shares of about 4.9 per cent, 5 per cent and 2.5 per cent, respectively. Banks’ credit growth rose to 18 per cent for the fortnight ended September 6, 2013, while deposits increased by 13.37 per cent as per the data showed by RBI. India's foreign exchange reserves rose to US$ 277.73 billion starting October 4, 2013. As per the Research Note by Gartner Group (2001), more than 75% of enterprises engaged in CRM initiatives are incapable of putting together a comprehensive view of their customers. Further, it noted that market leadership would be attained by enterprises that achieve maximum value and customer satisfaction within each customer segment being served by
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