Electronic Customer Relationship Management (E-CRM)- Opportunities and Challenges in Indian Banking Sector

Siddela Narender, Gorigay Thanvi


Today, many Indian banks are rushing to become more customer focused. A key component of many initiatives is the implementation of Customer Relationship Management (CRM). Electronic customer relationship management (e-CRM) is seen to arise from the consolidation of traditional CRM with the e-business applications marketplace and has created a flurry of activity among banks. E-CRM is the proverbial double-edge sword, presenting both opportunities and challenges for banks considering its adoption and implementation.

The banks use “Electronic Customer Relationship Management” tool to maintain their customer relations by using the Internet and what benefits are derived by using this E-CRM tool and how successfully this tool is implemented in a bank. E-CRM mostly for mass customization, customer profiling, self service, one to one interaction and automatic locks in flow of financial data like security prices which ultimately results in reduced cost of operation and increased customer loyalty and more profits.

This paper explores the marketing opportunities e-CRM creates for banks such as enhanced customer interactions and relationships as well as personalization options, all of which are potential sources of competitive advantage. On-line channel, data integration and information technology (IT) challenges. 



e-CRM, banking sector, challenges, opportunities


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