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Consumers largely select their banks based on howconvenient is the location of bank to their homes or offices.
The pressures of competitive and dynamic markets havecontributed to the growth of CRM in the Financial Services
Sector.
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Analysis suggests that a 5% increase in
customer retention can increase profitability
by 35% in banking business, 50% in
insurance and brokerage, and 125% in the
consumer credit card market.
Private Banks have traditionally viewed
themselves as exceedingly 'CustomerCentric' offering what they believe to be
highly personalized services to the High Net
Worth Customers.
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Traditionally, few people changed their banks unless
serious problems occurred.
Today, financial institutions can no longer rely on these
committed relationships or established marketing
techniques to attract and retain customers.
The Internet revolution.
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Over time, retail bank customers tend to
increase their holding of the other products fromacross the range of financial products / services
available.
Long-term customers are more likely to
become a referral source.
The longer a relationship continues, the better
a bank can understand the customer.
Customers in long-term relationships are more
comfortable with the service, the organization,
methods and procedures.
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Axis Bank was the first of the new private
banks to have begun operations in 1994,
after the Government of India allowed newprivate banks to be established.
The Bank was promoted jointly by theAdministrator of the specified undertaking of
the Unit Trust of India (UTI - I), Life
Insurance Corporation of India (LIC) and
General Insurance Corporation of India (GIC)
and other four PSU insurance companies, i.e.
National Insurance Company Ltd., The New
India Assurance Company Ltd., The Oriental
Insurance Company Ltd. and United IndiaInsurance Company Ltd.
The Bank's Registered Office is at
Ahmedabad and its Central Office is located
at Mumbai.
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Investment Banking
Corporate Banking
Retail Banking
Private Banking
Investment Management
Mortgage Loan
Credit Card
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Private banking and CRM
Private Banks have traditionally viewed
themselves as exceedingly 'Customer Centric' .
They believe in the concept of The
wealthier the customers, the more demanding
they are.
The first step towards successfully winning,
of private banking is to understand what
customers wants and needs are.
Their prime focus is to create differentiated
customer experience.
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To get as a credible player in the market,Axis bank
Made their customers experience the best with prioritybanking and treated them as a king.
They categorized their clients in three sections :
The Basic Customer Experience. ( Standard Banking )
The Segment-Specific Experience. ( Priority Banking )
The Organization-Specific Experience. ( Corporate Banking )
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Communicating with your customers.
Checking unusual movements on your
account.
Providing tremendous opportunities to
your clients.
Managing customer's questions flow.
Secure the banks business models .
24 Hours Banking
Online Tax Deposits
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Key Benefits of Implementing such CRM software for
Banking:
360-Degree Client View.
Manage Leads & Opportunities.
Automate Team- and Role-based Processes.
Generate Executive Reports.
Regulatory Compliance & Security.
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Deposits
ounts
oans
ar s
Insurance
ash anagement ervice
utual Funds
s
E anking r nlineanking
ill ayment ervice
axayment ervice
eleanking
Online rading
Direct axollection
Central Excise
Serviceax
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