You are on page 1of 21

RELATIONSHIP MANAGEMENT' is the name of the game in the banking industry today and customers never had it so good before . In a savingsdriven economy like ours, banks have finally come of age and the emphasis is now on making the customer feel that he is the king. Consolidations within the banking industry with mergers and acquisitions between public and new private sector banks have heralded in a new age of business in the banking arena. Software such as `CRM' (customer relationship management) which enable heaps of relevant customer information to be stored in computers and to be retrieved at the click of a button, are becoming popular among public, private and foreign banks as it enables them to `know' their customer better.

CRM is the broad approach for creating, maintaining and expanding customer relationships. CRM is the business strategy that aims to understand, anticipate, manage and personalize the needs of an organization's current and potential customers. It is the creation of the mutual value for all parties involved in the business process. It is about creating a sustainable competitive advantage by being the best at understanding, communicating, delivering and developing existing customer relationships in addition to creating and keeping new customers

The following steps minimize the work regarding adoption of CRM strategy: y Identification of proper CRM initiatives y Implementing adequate technologies in order to assist CRM initiative y Setting targets for each initiative and each involved in that circle y Evaluating actual performance with the standard or benchmark y Taking corrective actions to improve deviations if any.

Managing customers is one of the main issues that the banks face in today's hypercompetitive environment. If the service levels are not up to customer expectations, in all likelihood the customer might take his business elsewhere. This is where Customer Relationship Management (CRM) practices (most important) and software (on the technology side) plays an important role While a foremost part of CRM strategy is all about treating your customer right, technology does make a major difference.

CRM tools can be classified into two categories:


OPERATIONAL CRM : Provides the software support for businesses that require customer contact These tools are largely workflow based to provide information to employees and document customer interactions ANALYTICAL CRM: It helps you make sense of the information It helps in targeting the customers and utilize their potential to the maximum Techniques such as data warehousing and data mining are prominent tools used for this


y y

Yes Bank Ltd. Provides commercial banking products and services in India The Company engages in the corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, and wealth management businesses Yes Bank has adopted international best practices, the highest standard of service quality and operational excellence A key strength and differentiating feature of YES Bank is its knowledge driven approach to banking and consistent customer service experience for its retail banking and wealth management clients

YES BANK is built on foundation of trust, strengthen by knowledge, governed by transparency and committed to responsible banking . Today YES BANK is present across all major cities in India and offers a comprehensive range of banking products and financial services. YES BANK India s new age Private sector bank is an outcome of its professional entrepreneurship of its Founder, Rana Kapoor and his highly competent Top Management Team. Yes bank is the only Greenfield license awarded by the RBI in the last 14 years, associated with the finest pedigree investors

At Yes bank, we would like to assure you of the best of our services at all times. Electronic Channels Available You may register your complaint through the Online Complaint Form Call us at 7 days a week between 7.00 AM and 11.00PM. Yes touch phone banking service For specific complaints pertaining to Depository Services, please write in to: Time Frame We normally take up to 7 working days to respond to you. Complaint reference Number We provide you with a complaint number when you submit your complaint to us.

Escalation Mechanism Personal Visits to Bank officials Visit our branch and log your complaint in the complaint register maintained at all our branches (during working hours of the branch). Write in or meet the Branch Business Leader (Branch Manager) of the nearest Branch in your city explaining the details concerned and he will respond to youBranch Contact Details. In each of our branches we observe 7th of every month (between 3 pm to 5pm) as the Customer Day (previous day if 7th is a holiday or half day). Customers are free to use such a day to give their opinions on Products & services of the Bank, express their concerns, appreciate a specific service or product trait, etc. In each of our branches we have displayed the name and contact details of officers whom you can contact for raising your complaints.

This sub-committee of the Board is responsible for formulating the Comprehensive Deposit Policy incorporating issues such as the treatment of death of a depositor for operations of his account, the product approval process and the annual survey of depositor satisfaction. The Committee would also examine any other issues having a bearing on the quality of customer service rendered. The Customer Service Committee would also review the following: 1.Complaints received from the Regulator. 2.Awards passed by the Banking Ombudsman. 3.Internal complaints received, resolved and pending with root cause analysis and action steps to reduce complaints. 4.Effectiveness of the Grievance Redressal mechanism adopted by the Bank

The Standing Committee on Customer Service is chaired by the Executive Director / Managing Director, who is also a member of the Customer Service Committee of the Board and has other senior members of the Bank as its constituents. The Committee has the following functions: 1. Evaluate feed-back on quality of customer service received from various quarters, across Branches. Ensure that all regulatory instructions regarding customer service are followed by the bank. Consider unresolved complaints/grievances referred to it by functional heads responsible for redressal and offer their advice. The committee would submit report on its performance to the Customer Service Committee of the Board at regular intervals.




As a new generation bank, YES BANK had the advantage of accessing the latest available technology. The Bank took a calibrated decision to invest in the best IT systems and practices in order to make its technology platform a strategic business tool to build competitive advantage. The Bank had outsourced a significant part of its technology, infrastructure and hardware requirements. The technology platform enabled the Bank to achieve high standards of customer service at comparatively lower cost structures. One of the key features of the Bank's technology strategy was to establish long-term partnerships with best-in-class technology service providers that enables co-creation of value and offers differentiated solutions to its customers.

Cisco s objective was to provide YES BANK with integrated interactive services for Retail Banking (Voice services-Liabilities servicing, Assets servicing) Wealth Management, Private Banking, Business Banking and Corporate & Institutional Banking. Mr. Ravishankar, EVP & Country Head- Cash Management Services & Direct Banking, YES BANK says, We chose Cisco because their business model entailed implementing a superior service solution which could be leveraged by the Bank for enhanced cross sell, thereby leading to greater revenue. In addition, the Cisco solution scored higher than competing solutions on an all overall basis. During the evaluation phase the Project was led by the Technology and Service teams who anchored interactions with all internal and external stake holders. The final decision based on stringent benchmark was presented and accepted by the Management committee headed by the MD&CEO.

Yes Bank, based in India, has installed a customer relationship management (CRM) solution to help improve the level of customer service it can offer. The bank has only been around for five years but has already established itself as technically adept having won a series of awards for innovation and it was recently decided that the organization needed to upgrade its existing Excelbased customer service facilities. An unnamed branch manager of Yes Bank said: "We had instances when we lost sales leads, or multi-interfaces to the same lead and re-assignment of leads." Following on the steps of leading Indian banks, Yes Bank has developed a collaborative CRM solution, called YCCRM, to further its 'customer first' policy. Targeted at sales force and help desks across various departments, it aims to create a mutually beneficial relationship with current and potential customers.

It is a time when the phrase 'customer is king' holds more water than ever before, especially for the banking sector. YES bank was no exception. It managed customer relation via Excel sheets, which lacked interactive features and wasn't the smartest way to run the bank's sales force. Yes Bank Collaborative CRM (YCCRM) changed all that with banking heavily on employee collaboration. Keeping their existing customers intact and adding to that customer base is an imperative for banks. The definition of customer relations is broadening. When every new piece of customer data can reveal a new facet of a customer, information becomes a business opportunity. The more data, the merrier everyone is.

The problem was that it was a one-way information sharing system that restricted data flow from the customer to the company. "We had instances when we lost sales leads, or multi-interfaces to the same lead and re-assignment of leads. The customer information captured in the YCCRM is mapped to Single Image blog-like entries made by employees. These entries include ideas, suggestions, and perceptions of the sales representatives. The sales and product teams can then analyze this information and figure out related business opportunities. Such information can also be leveraged to customize existing products or conceive new products altogether . The implementation of a key tool like CRM has already started reflecting positively. There has been a drastic improvement in customer acquisition after sales leads were passed on via discussion boards. Customer service has improved by 60 percent and turnaround time for its processes by almost 70 percent," says Sharma. It has helped us understand our customers better and analyze the resolution time for each query or complain and then improve internal process accordingly.

Belonging to a sector severely hit by the slowdown, the YES bank needed a CRM solution to arm its retail and corporate sales teams with information to reach out to the consumer. The solution- One View was developed in-house, and today, customer information cane be viewed instantly in a single page view. Belonging to a sector severely hit by the slowdown, the bank needed a CRM solution to arm its retail and corporate sales teams with information to reach out to the consumer. The YES Bank One View was developed in-house. While this was the technical challenge, the solution presented Jain with its share of business and project management challenges as well.

YES bank has announced the launch of YES COMMUNITY, an innovative Responsible Banking initiative to be executed through micro-events being organized at the Bank s retail branch network nationally. Customer Relationship Management is concerned with attracting, maintaining and enhancing customer relationship in multi service organizations. CRM goes beyond the transactional exchange and enables the marketer to estimate the customer s sentiments and buying intentions so that the customer can be provided with products and services before the starts demanding. Customers are the backbone of any kind of business activities, maintaining relationship with them yield better result.


ROLL.NO 20 39 46 51 53 56