Essentials of E-CRM Technology: An Empirical Study of ICICI Bank

Abstract

Banking is one of the major infrastructures of any economy. The success of banking in the rapid growing economic scenario generally depends on the people, customers and technology. Now-a-days, the banking sector in India is growing rapidly and helps to get better the economic development of a nation. The ultimate performance of a bank can be judged by the satisfaction of its customers. In this respect, Electronic Customer Relationship Management (E-CRM) technology is playing a crucial role. In this globalisation scenario, one of the prime approaches is E-CRM. It is the process of utilising comprehensive information about customers and carefully managing all the customers’ touch points with the aim of maximising customer loyalty with the help of electronic media. This facility is available everywhere frequently. It has also put a greater impact in the field of banking. This paper has given an analysis about the conceptual framework of E-CRM and the role of managing customer relation to increase customer value. Here, also attempts are made to focus on the concept of E-CRM in Indian banks from its various dimensions, such as its need, process, present status and future projection. With the above details, this paper purports regarding the magical touch of E-CRM in the growth of banks with special reference to ICICI bank in India.