Customer

Relationship Management is a comprehensive approach for creating, maintaining and expanding customer relationship.

Traditionally, few people changed their banks unless serious problems occurred. banks can no longer rely on these committed relationships or established marketing techniques to attract and retain customers. Internet banking has done a revolutionaries change in banking sector.

Today, all

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Over time, retail bank customers tend to increase their holding of the other products from across 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.

How convenient is the location of bank The pressures of competitive and dynamic markets 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. Highly personalized services to the High Net Worth Customers.

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.

Punjab National Bank (PNB) is the second largest government owned commercial bank in India. It was ranked in 313th position among the top 1000 global banks in a recent survey(2007) by The Banker. It has more than 3.5 cr. customers. The bank's assets for financial year 2007 were about US$60 billion.

Savings Fund Account Account Current Account Fixed Deposit Schemes Scheme Credit Schemes Social Banking. Corporate Banking Business Sector

 Communicating

with their customers and solving their problems. customer's questions flow.

Managing

Effectiveness of customer interactions was also coming under pressure with rising business volumes. unusual movements of all account.

Checking

 CRM

services through mobile shall be introduced for the PNB. PNB is planning to offer value-added services like anywhere anytime banking. Complete Centralised Banking Solution (CBS).

PNB is the least computerized bank in the country. It started out by first purchasing over 4,000 standalone PCs. PNB needed to find a solution that would automate its business processes and convert it into a more meaningful and manageable network.

Its core banking system (CBS) already acts as a single data bank, a backbone to 2,108 service outlets with internet banking services spread over 28 states in the country. PNB has 676 ATMs and also coordinates with the MITR group of six banks with 2,200 ATMs. About 77 percent of its business is connected through leased lines.

PNB has decided to have only one of the two banking software solutions, either a core banking solution or Banc Mate. All the branches running on different legacy software will be migrated to either of the two solutions by June 2009.