World financial markets today are driven by Globalization and offer immense opportunities of growth for the corporate world. Many of these corporates, however, find it difficult to sustain with growing customer base and simultaneous growth in choice, demand and competition. Customer relationship management (CRM) with its potential to yield better results perpetually has become synonymous with attracting and retaining customers for longer periods. Customer-centric approach holds the key for success in the ever-changing Global Financial Markets. CRM is practiced today throughout various industries; it is especially adopted voraciously, in industries where money element is involved such as Financial Services Industry. CRM attains higher importance in the Financial Services because of the complex nature of the financial products and the constant necessity to keep in touch with customers. CRM is often misconstrued with implementation of technology alone and building personal relationships and interactions customers often get lesser emphasis. Huge investments of money, time and resources are made in order to implement CRM but, insignificant focus on relationship management. This, many a time, is the reason for CRM failures in an organization. CRM necessitates imparting education for all the stakeholders both within and outside the organization on ‘customer-centric approach’. Against this backdrop, a book that guides all the stakeholders and readers through various facets of CRM in Financial Services has become imperative. This book is an effort in that direction. The book has four sections and places equal importance on both perspectives and experiences in Financial Services. Separate sections on Banking Industry and Insurance Industry highlight strategies and practices pursued in the respective industries.
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