CUSTOMER RELATIONSHIP 

MANAGEMENT 
PROJECT: 
CRM In Private Banking sector 

 
Group -1: 
PARTICIPANTS: Roll Number 
Abhishek Chaurasia 2017IMG-002 
Aman Mishra 2017IMG-008 
Amit Kumar Barman 2017IMG-010 
Ashish Ashok Singh 2017IMG-012 
 
Under Guidance of: 
Dr.Arun Kumar
 ​ INDEX 
1. Introduction
A simple definition of CRM
Types of CRM
Why CRM?
​ 2.ICICI Bank Profile
History and present
ICICI Bank 2019 Fiscal Report
​3.General Value Drivers
Social CR
CRM Analytics
Software as a Service
​ 4.​ ​Major value Drivers for Banking Industry
​ 5.Major Vendors of CRM for ICICI Bank:
CRMNEXT
5​.​Challenges that are faced by ICICI
Bank and recommendations
6.Google Trends Analysis
​7 .Future Road Ahead
8. References

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 INTRODUCTION 
A simple definition of CRM:
CRM is the way toward dealing with all parts of communication an
organization has with its customers, including prospecting, deals and
administration.
CRM is a coordinated way to deal with recognizing, getting and
holding customers. By empowering associations to oversee and
facilitate customer connections over various channels, divisions, lines
of business and geologies, CRM helps organizations or companies
maximize the value of every customer interaction.
CRM is the central business technique that integrates inside
procedures and capacities, and outer systems, to make and convey
an incentive to focused customers at a benefit. It is grounded on
great customer-related information and empowered by data
innovation and the Internet.

Types of CRM:
1.Strategic CRM: Strategic CRM is a central client driven business
technique that targets winning and keeping productive clients.

2.Operational CRM: Operational CRM focuses on the automation of

customer-facing processes, for example, selling, promoting and client
care.

3.Analytical CRM: Analytical CRM is the procedure through which

organizations transform customer-related data into actionable
insight for either strategic or tactical purposes.

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WHY CRM?
1. CRM is a low venture and exceptional yield procedure.
2. CRM assists organizations with developing since it keeps track of
the historical backdrop of client connections.
3.CRM has no restriction. It can generally be upgraded.
4.Customer Retention is upgraded by connecting with the client in a
relationship.
5. Odds of consumer loyalty increments.

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 ICICI Bank Profile  
History:
ICICI Bank was set up by the Industrial Credit and Investment
Corporation of India (ICICI), an Indian budgetary organization, as an
entirely possessed backup in 1994. The parent organization was
formed in 1955 as a joint-adventure of the World Bank, India's open
area banks and open division insurance agencies to give venture
financing to Indian industry. The bank was established as the
Industrial Credit and Investment Corporation of India Bank, before it
changed its name to the shortened ICICI Bank. The parent
organization was later merged with the bank.

ICICI Bank started web banking activities in 1998.

ICICI's shareholding in ICICI Bank was diminished to 46 percent,

through an open contribution of offers in India in 1998, trailed by a
value offering as American depositary receipts on the NYSE in 2000.
ICICI Bank obtained the Bank of Madura Limited in an all-stock
arrangement in 2001 and offered extra stakes to institutional
financial specialists during 2001–02.
In 1999, ICICI become the first Indian company and the first bank or a
financial institution from non-Japan Asia to be listed on the NYSE.

In October 2001, the Boards of Directors of ICICI and ICICI Bank

endorsed the merger of ICICI and two of its completely possessed
retail account backups, ICICI Personal Financial Services Limited and
ICICI Capital Services Limited, with ICICI Bank.

In 2008, after the 2008 money related emergency, clients raced to

ICICI ATMs and branches in certain areas because of bits of rumours
about an adverse financial situation of ICICI Bank. The Reserve Bank

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of India gave an explanation on the financial strength of ICICI Bank to
disperse the bits of rumours.

Presently:
ICICI Bank is an Indian overall banking and finance related
organizations association headquartered in Mumbai, Maharashtra.
Beginning at 2014 it is the second greatest bank in India to the extent
of assets and market capitalization. It offers a wide range of banking
things and cash related organizations for corporate and retail
customers through a combination of transport diverts and gathered
reinforcements during the zones of theory banking, life,
non-catastrophe assurance, financing and asset the administrators.
The Bank has an arrangement of 3,800 branches and 11,162 ATMs in
India, and has a proximity in 19 countries. ICICI Bank is one of the Big
Four banks of India, nearby State Bank of India, Punjab National Bank
and Bank of Baroda. The bank has reinforcements in the United
Kingdom, Russia, and Canada; branches in United States, Singapore,
Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance
Centre; and operator work environments in United Arab Emirates,
China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia.
The association's UK helper has furthermore settled branches in
Belgium and Germany.

ICICI Bank 2019 Fiscal year Report

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 General Value Drivers 

1. ​ ​SOCIAL CRM
Integrating social media with CRM has some tempt benefits:
● Real-time access to clients unrivalled by the contrary channel
● Increased income through lower costs and more noteworthy
reach to clients
● Operational proficiency increases through more prominent
knowledge to your client base
In any case, building up a Social CRM technique are trying since
online networking i.e. social media has moved the reference to the
client. With web-based social media, clients will, in general, have
more force inside the connection since they have connections with
which the firm might want to append and explore. and exploit those
networks, Firms must make encounters which can draw to clients'
advantage and drive interaction.it won't be a simple errand as CRM
techniques centre essentially around dealing with the reference to
their clients – not encouraging value added talk and giving
interesting client experiences. In online social media, the expression
"the customer is King" has never been all the more obvious. So what
helps make a Social CRM methodology effective? it is crucial to
create methodologies and objectives – paying little heed to how you
mean to interact with your clients – around the joining of online
social media and the CRM. These ought to incorporate
administration of commitment strategies, key performance
indicators (KPIs), and different measurements to clearly gauge and
screen your advancement.

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2. CRM ANALYTICS
CRM instruments today are preferably incorporated with different
frameworks than ever before. These abilities permit associations to
acquire a 360 degree perspective on their clients (for example
capacity to utilize advertising, deals, and website usage data to
accomplish more targeted cross-selling). Organisations can exploit
the voice of the customers from social media platforms and other
internal systems to understand the needs and expectations of
customers.
Access to analytics is very important. However, organizations that
use analytics to drive choices advantage most. For instance,
customer experience examination gives the chance to recognize your
"best" customers (which may regularly be astounding). You could
find that your most rare customers have the most overall spend. By
concentrating on these basic customers, associations can keep up a
loyal customer base for-long term and at last produce more revenue.

3. SOFTWARE AS A SERVICE (SAAS) OR CLOUD CRM

The advantages of a SaaS arrangement are difficult to ignore:
● No in-house equipment or programming to install and
maintain.
● Instant worldwide accessibility because of access over the
internet.
● Smaller upgrades on a regular, predictable and persistent time
period for as long as you hold the licenses.
SaaS solutions are not for everybody, be that as it may. First of all, a
few enterprises may have guidelines on putting away information in
the cloud. The measure of interfacing required or the loss of
adaptability of a SaaS solution may dismiss others from a
cloud-based solution.

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It is basic to look at if the SaaS model meets your requirements
before picking one. For instance, IBM declared a year ago that it
would replace its Siebel usage with a relative newcomer to the
market, SugarCRM (not a SaaS model). IBM esteemed the
adaptability to have the product run on and incorporate with IBM
programming stages like Lotus Notes and DB2 databases that
SugarCRM gave. They likewise noticed that the per-user permit
charge of the SaaS model was unreasonably expensive for their
enormous number of CRM users. IBM plainly analyzed their needs
before choosing SugarCRM as their CRM merchant. With long
stretches of seller assessment/choice experience.

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Major value Drivers for Banking Industry:
Just like other industries and businesses, CRM stands for Customer
Relationship Management in banking. The Customer Relationship
Management solution in banking helps banks in the management of
their customers and better understand their needs in order to
provide the right solutions at a right time quickly.
There are many benefits to CRM in banking some of them are listed
below:
1. Bankers can segment customers, communicate with them on
the channels they prefer, and increase customer’s and their
own profit. By using CRM to put customers at the centre of the
business, banks can better help people with their need and
engage with customers at the right time throughout their
financial life journey.
2. CRM can track customers data across the bank, so the bankers
can get a 360 view of each customer and deliver personalized
service that exceeds expectations and also locks in a lifetime of
trust.
3. A CRM makes it easy to create reports highlighting customer
data points, engaging channels, product purchasing trends and
much more.
4. With a complete snapshot of each customer in one single view,
banker can spend less time gathering data and more time
strengthening their customer relationship.
5. With the right CRM, banker can have an insight into their
customers’ needs, relationships and financial life goals on any
device at any time.

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 Major Vendor of CRM for ICICI Bank: 
CRMNEXT 
ICICI bank uses​ CRMNEXT​ which is a major company providing CRM
solutions to various companies. ​It has to its credit the largest Banking
CRM implementation in the world with 3,25,000 + users across
5,000+ locations and 36 countries. With proficiency in creating
customer journeys from digital on boarding through all aspects of
assisted services, it is also focused on the delivery of high-quality
CRM implementations. The solutions provided by CRMNEXT are
creating major value for ICICI bank’s customers. Some key points are-

● Capturing leads across channels on a single integrated platform

including web, mobile, email, SMS, branch, etc.
● Displaying cross sell offers based on various triggers across all touch
points with fast track closure process
● Complete profile capturing and action items in prospect and
customer 360 view
● Closing the loop between sales and marketing by tracking lead
conversions and ROI in ​digital Banking CRM
● Managing end to end on boarding processes on a single system by
integration with back office and line of business systems.
● Easy on boarding process for all products with guided call scripts for
cross selling and service activations like bill pay, internet banking,
debit cards etc.
● Multiple alert facility at each stage to keep customer informed of
on-boarding process with ​CRM for Bank
● RM activity calendar management and travel reimbursements
with ​CRM in banking
● Quick and easy creation of campaigns and events across with
automated approval process based on predefined checklist

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● Ability to invite partners and alliances to increase event reach
● Giving visibility of campaigns to all sales teams and nearby branches
with ability to participate. Thus boosting ROI
● Quick view of campaigns directly through calendars
● RM activity calendar management and travel reimbursements
Detailed catchment area information and actionable intelligence
through integration with Pitney Bowes
● Creating plans and setting targets based on multiple parameters like
no. of accounts, customer mix, product mix, users, territories etc.
● Implementing real time tracking mechanism by displaying
conversions at each stage on a single consolidated screen
● Auto-calculating the required number of leads, campaigns,
interactions and conversions on daily basis
● Develop timely course correction strategies to ensure target
achievement

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CHALLENGES THAT ARE FACED BY ICICI BANK AND 
RECOMMENDATIONS 

1. Poor client administrations.

2. Higher help charges i.e. service charges.
3. Essentially targets white collar class (middle) and privileged of
society .
4. Lower Retention of Experienced Staff and Potential clients .
5. Less expert and wasteful client care individuals .
6. Brutal Loan recuperation techniques .
7. No legitimate office for uneducated clients – for the most part on
the web.

1.POOR CLIENT ADMINISTRATIONS

ICICI bank is restricting their online highlights when different banks
are extending the same. Prior they used to give home credit account
proclamation and instalment plans on the web however from Sept
01, 2013 they have quit doing likewise and have made the process
bulky for the clients by driving them to move toward resource (asset)
serving branches, that are not many in numbers. Fakes with respect
to the blessing vouchers were another situation where ICICI was
viewed as indecent. Another instance of travel card, where a client
was informed in the booklet and client care executive that it very
well may be used in any VISA ATM yet it didn't. Just the ICICI bank
ATM is tolerating the Card., It presently got hard to track down that
bank ATM when required. Indeed, even ICICI Customer Care @
33667777 was another issue where the call was either disengaged or
set on hold for quite a while or moved to the fundamental menu. The

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client needs to experience the IVR Process over and over to set
everything straight.
RECOMMENDATIONS:
ICICI bank must investigate the administrations it is giving to the
client. Particularly on the off chance that of travel cards, client care
administration, loan cost of premium clients. On the off chance that
poor people administration of ICICI Bank proceeds, even steadfast
clients i.e. Loyal of this association will move to other better banks.

2. HIGHER HELP CHARGES I.E. SERVICE CHARGES

* we have considered their moderate debit card

Sbi ->gold
Union bank->platinum
Icici bank->international debit card
The monthly average balance is quite high for ICICI Bank in every
segment. Also, the charges for ATM and Debit card charges are
comparably high.

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RECOMMENDATIONS:
Because of the higher charges of ICICI bank in regard to different
banks, its clients are confined to rich class and working-class
individuals. They can think of different less expensive plans for the
provincial(rural) individuals with the goal that they can enlist the
country individuals as their clients and fabricate a consistent
connection with them throughout the years and afterward the bank
can strategically pitch or upsell their items to these country clients.
What's more, even the existing clients aren't content with the over
the top help charges since they feel that the client administrations
aren't up to mark. So ICICI bank should think of diminishing the
administration charges while keeping up the benefits at a
supportable rate.

6. BRUTAL LOAN RECUPERATION TECHNIQUES

The loan recuperation techniques for ICICI bank are strict. In the
event that a client defaults on his portions just a single time, they
bother the person in question with steady updates through content
messages, messages and so forth which disturbs them. A case had
happened a year ago that showed up on the first page of Times Of
India which expressed that an individual had taken a credit of
Rs.1,00,000 from ICICI bank. He defaulted only a single time and the
authorities of ICICI bank sent
bouncers at his place to recoup the advance. The individual recorded
a suit against the bank for the mental injury he endured. The court
requested the judgment for the individual ICICI bank needed to give
a remuneration of 50 lakhs to that individual. Such cases have
occurred a few times.

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RECOMMENDATIONS:
ICICI Bank should lay some legitimate guidelines for recuperation
strategies and that ought to be applied in all the parts of ICICI bank.
Provided that the clients get irritated over this issue at that point
there might be occurrences that they would quit working with the
bank. This way the bank may miss out on numerous clients. The bank
should give some all-inclusive period to the defaulters and complete
appropriate examinations about why they are defaulting.

4. PROBLEMS REGARDS TO DISPARITY IN CASH

WITHDRAWAL FROM ICICI BANK ATM
There were different issues in regards to the withdrawal of money
from ICICI ATM, which incorporates the ill-advised working of ATM
machines, lacking money in the machine. Instead of resolving the
complaint of the client rather solicited to follow a stringent strategy
from visiting the bank, composing a mail in regards to the equivalent
and sit tight for the arrangement. There are likewise power
reinforcement issues related with the ATMs and their locations.
RECOMMENDATIONS: ​As the majority of the clients of ICICI bank use
ATMs for withdrawal of money, the bank should give least
conceivable possibility of protests to the clients.

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 Complaint Analysis (17-18) 

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Search term: ICICI Bank
country :INDIA

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18
Analysis:
graph1:
It shows that interest towards icici bank increased for certain
duration then it is declining.
Google trends data suggests that icici bank is searched mostly in
urban areas , more specifically in metropolitan areas.
It shows that people in less developed areas prefer public Banks.
Possible reason might are:
1.High monthly balance.
2.less literacy in underdeveloped areas because of which they are
reluctant to use online facilities.
3.less monthly income.

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OTHER Related Queries which we must consider to provide better
customer services:

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Analysis:
Most searched query related to icici bank over the time is Icici login
which is obvious but after that people searched for icici bank shares
As we know icici bank’s stock price is increasing day by day to make
profit, people buy some stocks of icici bank to make profit.Then they
searched for ifsc code which is also good.
But after that whole scenario is changed now the trends are of
Complaint,customer care etc which suggest that people are facing
lots of problems while using these bank services.

Here, CRM can play a big role to reduce the Gaps.

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 Future Road Ahead 
Use of social media by banks and MNCs to
improve CRM solution provided by them
1.Facebook has 1.2 billion subscribers, a size that dwarfs any
customer database built to date.
2.YouTube estimates that 100 hours of video are uploaded to it every
minute.
3.Twitter claims that 500 million Tweets are sent every day.
4. The amount of data being created is frankly hard to imagine but it
seems that we are in a phase of exponential data growth.
IBM suggests that we create 2.5 quintillion bytes of data daily, and
that 90 percent`` of the world’s data has been created in the past
two
years.
The sheer volume of data being generated represents a huge
challenge and opportunity for organizations. Various organisations
especially Banks can use this data and improve their CRM solutions.

How can ICICI improve their CRM in the future:

1.Under promise and over deliver
Keep customers happy by under-promising and over delivering. For
example, if a customer applies for a credit card that normally takes
some days (say 10 days) to deliver, you might quote 15 -days
delivery, but tell the customer that you will contact them if the credit
card arrives sooner. This is far better than the all too common
practice of exceeding the original deadline or estimate that most
customers find annoying and unacceptable.

2. Keep customers informed

Make sure that staff keep customers informed if promises can't be
met. For example, if some mishap has delayed an order, ring up the
customer as soon as you know of this. Try to compensate in some

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way for the lateness. Think of something exceptional that will delight
the customer. If there is a small cost involved, weigh this against the
customer's lifetime value.

3.Taking feedback form the customers

The most important way to know if the customer is satisfied or not, is
to take feedback in various ways.

4. Encourage staff to be thoughtful

Ask your staff to perform at least one act of kindness a day, such as
opening the door for a customer, or offering water to the customers
waiting in the que. Being prepared to 'walk the extra mile' can pay
real dividends.

5.Building customer loyalty

Give unexpected gifts or rewards to customers. For example,
categorize the customers as premium customers and regular
customers. Send a bouquet to the premium customers on
their birthdays and email birthday wish to the regular customers
expressing gratitude saying thank you for doing business with us.
These 'out of the blue' rewards can have a powerful impact on
building customer loyalty and goodwill.

REFERENCES
1. https://www.sei.com/2013/04/03/driving-forces-investments-c
rm/
2. https://www.icicibank.com/annual-report-microsite/directors-r
epo rt.html
3. https://trends.google.com/trends/explore?geo=IN&q=icici%20
bank
4. https://www.icicibank.com/managed-assets/docs/complaint/c
omplaints-analysis-2017-18.pdf
Book:​CUSTOMER RELATIONSHIP MANAGEMENT :Concepts and
technologies by Francis Buttle and Stan Maklan

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 ​ ​THE END

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