SunTec explains how integrated customer relationship management systems can add a new dimension to pricing retail banking customers.
Studies indicate that cost associated with retaining existing customers can be significantly lower than the cost associated with the sales and marketing efforts to attract new customers. As a result of this realisation, CRM has become the key focus area for retail banks across the globe.
CRM strategy is nothing new and has been devised and implemented by most retail banks. However this white paper attempts to look at the existing CRM practices in line with the changing face of the retail banking industry and moves toward more sophisticated modelling and pricing of products and customers.
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