Role of CRM in Indian Banking Sector

Abstract

Service providers, particularly banks, are constantly concerned about their understanding of customer relationship management. Banks manage their relationships with both new and existing customers in their own unique ways. This paper's goal is to analyse customer relationship management as a novel approach that seeks to find and draw in customers by building relationships between businesses and customers. Maintaining customer happiness and fostering greater client loyalty are the goals of the CRM technique. This paper's goal is to examine the significance of CRM systems and provide a thorough understanding of customer relationship management strategies.  This study's primary concern is that CRM has evolved into a complicated, multifaceted phenomena that is influenced by several variables. Because of this intricacy, CRM has been measured using a variety of variables that have been examined in a number of earlier research. However, given the rise in competition and lack of differentiation in service delivery, the majority of businesses must understand and examine the specific CRM metrics and dimensions that significantly affect customer satisfaction and loyalty. This will improve the performance of the business. The purpose of this article was to evaluate the literature on CRM and determine how it affects customer loyalty and satisfaction. The studies are evaluated based on a few general traits and factors that greatly improve CRM and its impact on customer loyalty and satisfaction. To do this, we look into the body of research on how CRM affects customer satisfaction and loyalty as well as how it spreads across publications to find areas that could use improvement.