COMPARING CUSTOMER RELATIONSHIP MANAGEMENT IN PUBLIC AND PRIVATE BANKS

Abstract

In this comparative study, we examine the Customer Relationship Management (CRM) practices employed by both public and private sector banks. Customer relationship management is a pivotal aspect of the banking industry, as it directly influences customer satisfaction, loyalty, and ultimately, a bank's success. The objective of our research is to shed light on the key differences and similarities in CRM strategies between public and private banks, with the aim of providing insights into best practices that can benefit both sectors. Our study employs a multi-dimensional approach to assess CRM effectiveness, encompassing factors such as customer satisfaction, service quality, response time, and personalized interactions. By analyzing data from a diverse range of public and private banks, we aim to uncover patterns and trends that illustrate how CRM practices vary across these sectors. Additionally, we explore the impact of technological advancements, regulatory frameworks, and organizational culture on CRM implementation. This research not only contributes to the academic understanding of CRM in the banking industry but also offers practical implications for both public and private sector banks. Comprehensive comparison of CRM practices will help banks identify areas for improvement, enhance their customer relationships, and strengthen their competitive positions in an ever-evolving financial landscape. Keywords: CRM, Public Sector Banks, Private Sector Banks, Banking Industry.