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Published by Indumathi Sekar

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Published by: Indumathi Sekar on Oct 25, 2010
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³Building profitable customerRelationships with CRM &E- Governance in Banks´ABSTRACT
The techno-revolution governs the changes in economy. With high rate of change of technology, existing management practices and policies, marketing strategies need to be changed.IT is playing dominant role in today¶s business, in order to meet those opportunities, there is needof ensure, stable and conducive economy.Keeping this challenge in mind it is an attempt to rediscover the power of upcomingtechnologies of digital revolution in the field of banking sector ± the challenges and their impacton future economy.Simultaneously, Customers Relations Management (CRM) helps in maintainingcustomer database and providing better services. The present level of MIS covers, basically, information needed for control, performance monitoring, decision making etc. andencompasses activities in administrative offices like processing of statutory returns,monthly/quarterly performance reports from branches, credit information personnel inventory, profit and loss accounts, funds management, and branch maintenance etc. The purpose of researchis to elucidate the familiarity of the Internet by Bank customers (E-Governance).To understand the use of CRM in the banks. To know about the various aspects of analyticCRM and shows how can be best use to manage the customer life cycle more cost effectively.
Key Words :
CRM (customer relationship management), ERP (enterprise resource planning),E(electronic), ATM (automated teller machine), M (money)
Humans are very good at transforming ages. From the beginning of the Stone age, developmentthrough Pre-Medieval period«medieval period to the industrial age, then to the Aviation age, theAtomic age, the Space age... all of these so-called 'ages' are history.After 40 years of computing power, it's very clear that computer¶s have become history. Todaywe live in the 'Information age'. The information age has accomplished great work during its spanon historical stage: dissolving jobs, transforming industries, crazily building and destroying greatfortunes.This information age has given us a plethora of new technologies to work with. Thetechnologies like bio-informatics, wireless networks expert systems, human machine interaction,robotic vision among others, though not fully evolved have the potential to drive the future. Tokeep away from being the victim of obsolescence and to keep an eye on the future, it¶s necessaryto be aware of these technologies and exploit them to their excellence.The techno-revolution governs the changes in economy. With high rate of change of technology,existing management practices and policies, marketing strategies need to be changed. Existing businesses have to be prepared for future shock. Awareness of the cutting edge of knowledge ineach field is of supreme importance. The global geographical boundaries have disappeared for  business, with the use of cyber space. We have to learn faster how the integration of IT can bequickly understood and brought into each aspect of business. What we can see clearly isexpanding opportunities. To meet these opportunities, we will have to ensure a stable andconducive economy.Keeping this challenge in mind it was an attempt to rediscover the power of upcomingtechnologies of digital revolution in the field of banking sector ± the challenges and their impacton future economy.
a). To elucidate the familiarity of the Internet by Bank customers(E-Governance). b). To understand the use of CRM in the banks.c). To understand the various aspects of analytic CRM and shows how can be best use to managethe customer life cycle more cost effectively
Technological Developments in Banking
Information technology and the communication networking systems have a crucial bearing onthe efficiency of money, capital and foreign exchange markets and have manifold implications for the conduct of monetary policy. In India, banks as well as other financial entities have entered theworld of information technology and computer networking with INFINET.The Indian Financial Network (INFINET), a wide area satellite based network using VSATtechnology, was jointly set up by the Reserve Bank and Institute for Development and Research inBanking Technology (IDRBT) at Hyderabad to facilitate connectivity within the financial sector.The network was inaugurated in June 1999.It was established to serve as the communication backbone of the proposed IntegratedPayment and Settlement System (IPSS). The Reserve Bank constituted National PaymentsCouncil in 1999-2000 to focus on the policy parameters for developing an IPSS with a real timegross settlement (RTGS) system as the core. INFINET initially comprised only the public sector  banks was opened up for participation by other categories of members. 26 public sector banksachieved the level of 70 per cent of business captured through computerisation by June 2001.The Information Technology Act, 2000 has given legal recognition to creation,trans-missionand retention of an electronic (or magnetic) data to be treated as valid proof in a court of law,except in those areas, which continue to be governed by the provisions of the NegotiableInstruments Act, 1881.
Present level of Computerisation:
Based on the norms worked out by Rangarajan Committee (II), 7827 branches of the PublicSector banks were identified for full branch computerisation up to March 2000. It was found withimmense need of existing ± computerized branches to be inter ± connected in order to provide better services to customers. Some of the Banks have started inter-connecting their computerized branches using leased telephone lines or Very Small Aperture Terminals (VSATS), creating better±centralised control and more comprehensive service to customers. As of now, New PrivateSector and Foreign Banks have an edge over Public Sector Banks as far as implementation of technological solutions is concerned. However, the latter are in the process of making hugeinvestments in technology.Services and products like "Anywhere Banking" "Tele-Banking" "Internet banking" "WebBanking´, e-banking, e-commerce, e-business etc. have become the buzzwords of the day and theBanks are trying to cope with the competition by offering innovative and attractively packagedtechnology-based services to their customers.

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