There are four ways in which CRM enables the development of new capabilities in CBS to cope with emerging realities around risk, regulation and customer retention. First, it can offer a unified view of the customers. Secondly, it can help provide a consistent message to customers. Third, it can provide end-to-end customer care. Fourth, it helps in building long-term customer relationships.
Fifth, it helps in identification of best customers. CRM is thus recognised as an avenue for banks to go beyond other banks in terms of customer retention and increase in business volumes. 14. CRM, however, has certain pre-conditions for its successful implementation. First, business requirements and targets have to be defined.