If we do not comply with these restrictions, we could be in default even if we can currently pay our debt. If there were a default, holders of the relevant debt could demand immediate payment of the aggregate amount of that debt. We may not be able to make such payments. This could lead to a concurso mercantil, a two-stage procedure under Mexican law commencing with a negotiation with creditors and, if such negotiations fail to yield an agreement, our bankruptcy or reorganization for the benefit of our creditors.
This has resulted in the adoption of various CRM initiatives by these banks to enable them achieve their objectives. Identifying CRM initiatives with reference to the objectives to be attained such as increased number of customers, enhanced per-customer profitability, etc.
The challenges in managing customer relations in retail banking are due to the multiple products being offered and the diverse channels being used for the distribution of the products.
Customer expectation from banks can be summed up as: Aggressive marketing and promotions on the part of the banks have resulted in most customers happily switching loyalties to enjoy better privileges, thereby making the task of retaining them more difficult for the banks. It is necessary for banks to identify potential customers for approaching them with suitable offers.
The transactional data that is generated through customer interactions and also by taking into account the profile of the customer such as the lifecycle stage, economic background, family commitments, etc. For example, a customer interacts with the banks for savings accounts, credit cards, home loans, car loans, demat accounts, etc.
After the integration is done, a profitability analysis of the customer needs to be undertaken to acquire an understanding of the profit-worthiness of the customer before targeting The economics of crm iusacell case with new offers. A consolidated information database on all products, pricing, competitor information, sales presentations, proposal templates and marketing collateral should be accessible to all the people concerned.
Consistent interface with customers: The communication to customers from various departments like sales, finance, customer support, etc. Therefore, all departments should be privy to a unified view of the customer to enable a consistent approach. Removal of inconsistencies is necessary to ensure that customers are not harassed and frustrated owing to poor internal co-ordination.
This is bound to enhance customer satisfaction. The contact centres used to interface with customers should ensure consistency in customer interaction, irrespective of the medium used for the interaction such as telephone, Internet, e-mail, fax, etc.
Banks can use the data on customers to effectively segment the customers before targeting them. Accordingly, suitable campaigns can be designed to address the issues relevant for that segment and to ensure higher loyalty from these customers.
When data analysis is done in the right manner, it helps in generating opportunities for cross-selling and up-selling. The bank has over branches, a network of ATMs, multiple call centres, Internet banking and mobile banking.
Its customers often use multiple channels, and they are increasingly turning to electronic banking options. Business from the Internet.
ATMs and other electronic channels now comprises more than 50 per cent of all transactions. In the process of making its business grow to this level, ICICI Bank has distinguished itself from other banks through its relationship with customers. Information from various legacy and transaction systems is fed into a single enterprise called wide data warehouse.
This allows the bank to generate a single view of its customers. The warehouse has the capability to integrate data from multiple sources comprising Oracle and flat files.
The Behaviour Explorer enables profiling of customers and querying on various parameters. These enable the bank staff create suitable campaigns for targeting individual customers on the basis of their requirements.
The logistics in the system have also led to other benefits like interactive reports, unearthing cross-selling opportunities as well as finding out about the channel usage undertaken by a segment. Analysis at ICICI guide product development and marketing campaigns through Behaviour Explorer, whereby customer profiling can be undertaken by using ad hoc queries.
The initial implementation of CRM allowed ICICI to analyse its customer database, which includes information from eight separate operations systems including retail banking, bonds, fixed deposits, retail consumer loans, credit cards, custodial services, online share trading and ATM. This facility has been tried at Mumbai, Chandigarh and various places in Kerala during specified timings.
Unlike conventional ATMs, which are able to accept only 30 notes at a time, these ATMs allow the deposit of huge amounts. The bulk deposit facility can be availed of by select customers who need to deposit huge amounts of cash.
This card allows for deposit transactions only. The service is further facilitated by the provision of special bags at ATMs in which a customer can put his money. After the deposit slip is filled, the bag can be inserted in the ATM. The transaction slip is then generated by the ATM as an acknowledgement of the deposit.
ATMs for the visually challenged: The jack on the terminal enables headphones to be connected to it and voice commands enable the customer to transact business. Customers may choose a suitable language to get voice commands.
After the language selection is done, the customer is guided to ensure that the ATM card is inserted in the right slot and thereafter, guidance is provided for entering the PIN by using the keypad. A raised button is provided on number 5 to enable users to identify the numbers easily through touch.The definition of CRM is customer relationship management.
In a nutshell, CRM lets Service catalog: Sell, Service, Market, Connect. Customer Relationship Management (CRM) in Banking: A Case Study of ICICI Bank Focus on ICICI Bank’s Initiatives The use of Customer Relationship Management (CRM) in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by banks in today’s competitive milieu.
THIS IS A SAMPLE SYLLABUS!!!
Building and Managing Customer Relationships B Spring assigned case materials, and are prepared to discuss these in the class.
"Customer Relationship Management: In B2C Markets, Often Less is More", Dowling, California Management Review, Spring . Alternative Approaches To Scm And Crm. Supply Chain Management (SCM) and Customer Relationship Management (CRM) vs. Enterprise Resource System (ERP) a Comparative urbanagricultureinitiative.comrise Resource Planning System (ERP), also referred to as the traditional management system, was generated from the MRP or the Material Requirement Systems.
Case writeups Teams should pick any four cases from the following list. The case writeups are due at the beginning of the class on which the case is scheduled for discussion. Teams should consult the updated class schedule to ascertain the due dates for their cases.
• Iusacell • Capital One Financial Corporation • Harrah’s Entertainment. CRM at Minitrex Introduction The case begins with Degas, Director of sales upset with his sales people, because the customers where repeatedly getting calls from the salesman without knowing that they are already the customers at Minitrex.
Degas was unhappy with the systems being used at Minitrex.