IMPACT OF ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT ON LOYALTY AND SATISFACTION IN SCHEDULED PRIVATE SECTOR BANKS

Abstract

 The performance of a bank depends upon the satisfaction of its customers. In this competitive era, banks have to strive hard for retaining and enlarging their customer base. The E-CRM is the latest and one of the effective tool followed by the private sector banks for retaining their customers. The banks believe that by using this technology they can tailor offerings according to individual customers loyalty. Internet banking, mobile banking, EFT, customer smart cards etc are some of the latest E-CRM techniques used by banks in offering new products and service to its customers. To serve more and retain customers, bank changed the old concept of accepting deposits and lending money and they become customer focused organization, by using the various electronic channels. These channels help the banks in understanding their needs and wants and providing them various services. All this make the customers loyal and their satisfaction. This paper aims to investigate the impact of E- CRM on two major constructs namely customer loyalty and satisfaction.