CUSTOMER RELATIONSHIP MANAGEMENT PRACTICES IN NEW GENERATION BANKS: AN EMPIRICAL STUDY AMONG RESPONDENTS IN CHENNAI

Abstract

In an era marked by rapid digitalization and heightened
customer expectations, customer relationship management
(CRM) has evolved as a critical strategic tool in the banking
sector. This study explores the CRM practices adopted by new
generation banks in Chennai, focusing on how these banks
leverage digital platforms and data-driven strategies to build
and maintain customer relationships. The research examines
various CRM dimensions such as customer engagement, service
quality, personalisation, and the adoption of Electronic
Customer Relationship Management (e-CRM) technologies.
Using primary data collected from banking customers in
Chennai, the study evaluates the impact of CRM practices on
customer satisfaction, retention, and loyalty. The findings
highlight that new-generation banks, through the integration of
advanced CRM tools, are better positioned to respond to
dynamic market demands and enhance customer-centric
services. The research offers practical implications for banking
professionals seeking to refine their CRM strategies and achieve
a competitive advantage in urban markets.