1.1 INTRODUCTION

The advancement in information and communication technology has made the

new millennium an e-millennium. The dividing line between the banking and

non–banking financial institutions like mutual funds is getting blurred. Competition from

players in the market has resulted in products and services which were traditionally

offered by banks and financial institutions but are now being offered by non–banking

financial organizations more efficiently and effectively. In India, the monopoly of banks

over payment system has been broken by the launching of satellite –based money order

service by the Postal and Telephone Departments. Now, banking activities are not only

confined to borrowing and lending, but also to a large number of other services keeping

in mind the requirement and convenient of customers. In the fast changing banking

environment World Wide, banks in India will not only have to learn the new rules but

also upgrade the skills, as well as the tools of banking. The challenge lies in addressing

these issues and at the same time keeping the wheels of growth moving.

In the early 1990s, the concept of relationship marketing was formally introduced

into the services of marketing literature. Financial service institutions, airlines and other

service providers found it profitable to retain and reward existing customers rather than

run after new customers. It has been established that building closer relationships with the

customers resulted in better returns to organizations through the following means:

1. Increasing use of services by loyal customers

2. Changing of price premiums for customized services

3. Referrals by satisfied customers that brought in new customers.

The Customer Relationships Management (CRM) is a well–reflected series of

functions, skills, processes and technologies which together help organizations to more

profitably manage customers as tangible assets. CRM recognizes that success over a

period stems from customer loyalty and that long–term profitability lies in fostering

unique lifetime relationship with small number of carefully chosen customers. It calls for

 

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increasing customer share, that is, retaining customers and selling them new customer

made, higher margin products over time and also to increase the profitability of each

customer and therefore, of the organization as a whole. The concept of CRM when seen

in the context of e-business or transactions over an electronic media translates into

e-CRM, which essentially deals with managing customer interaction over the web. After

the adaptation of Internet and availability of electronic channels of communications, it

has become possible to capture customer–related information intelligently at the stage of

interaction itself. e-CRM applications are the generic of application systems, which

handle customer interactions over this new electronic channel of communications.1

The long–term business relationship provides many potential benefits for banks

and clients. The cost is less for many service firms (banks) to maintain and develop an

existing client relationship through Internet. The customer can save cost of transaction by

developing a long–term relationship with the bank. Transactions through Internet are

more economical than the other channels. A long –term relationship may, for instance,

produce strategic benefits for the bank in its marketing by generating references and

credentials or it may create competitive advantage by building barriers to switching. The

client may enhance the quality of services offered by engaging in long–term business

relationship with a bank.

In net–banking, the financial statement can be viewed, printed or downloaded in

any format for ease of analysis. Thus, Internet as a service delivery channel shifts the

control of transactions from the bank staff to the customers. Net bank customers find

better information through websites than from human efforts taken by the banking staff.

Thus, a high level of customer satisfaction and repeat purchase are the most critical

advantage of e-CRM in banks. Other related benefits include reduction in the cost of

sales and promotion, high supply chain management integration and improved logistics

management. At present, most of the banks in India operate with IT enabled platform.

Therefore, it is necessary to study the views of customers about CRM and e-CRM

applications in the business operations.

 

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1.2 STATEMENT OF THE PROBLEM

The process of globalization and liberalization has exerted its huge influence on

the Indian banking sector. In banks, the service sector, the customer service should not

only be considered as a function, but a way of life also. The success of a bank

depends on how much it fulfills the customer needs. Therefore, the bank should be

customer-oriented to meet challenges of to-day’s competitive environment.

Customer needs and expectations change from time to time, since it is highly

dynamic with respect to societal influence. To-day’s customers are aware of their needs.

Entry of new branches of foreign banks in India and their better services to customers

have broadened and enlarged the customers’ expectations of services from Indian banks.

So, it is the time for Indian banks to innovate new products and services and also to refine

the existing services.

A way to remain competitive in the more and more complex banking environment

is the use of CRM concept. The CRM is a business strategy geared towards acquiring,

retaining and growing more profitable customers. The basic approach of CRM in a

banking context is to centre all operations of a bank on its customers, creating a “CRM

state of mind” in an enterprise wide manner. To-day, Indian banks are also trying to

develop service quality with customers. They are continuously involved to redefine and

to provide new ideas and techniques to the customers. They are searching new concepts

for maintaining and enhancing the relationship with customers and getting feedback from

them about the product offerings and suggestions on improvement of the products.

Many surveys have reported that banks which develop a customer–centric

strategy get higher profits. Starting from the early service of Automated Teller Machines

(ATMs), the banking industry has been offering mobile banking, Internet banking,

customer care centres and so on which have gradually increased the investment of

front–office systems, which itself is directly related to customers. It is apparent that the

key point of IT applications has been transferred to the customer side, because the

development target of business is now all customer–oriented. In the near future, a

 

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customer’s requirement will lead to the direction of every kind of financial channel and

service. Now, it is the turn of e-CRM services through which the whole banking industry

is focusing attention for real time banking.

After a lot of exercise and thoughts, banks are providing more flexible banking

hours, evening counters, elegant furniture, comfortable ambience, impressive interior,

well designed counters, responsive and well behaved personnel. A trained and motivated

staff with full of details of products and services, customer friendly work culture,

computerized banking operations, positive attitude and optimistic outlook of branch

personnel, looking for more avenues to serve and retain existing customers, intense

customer relationship, use of modern state of the art technology, conversant with

products and services being offered and procedures to be followed, effective mechanism

for quick redressal of complaints, counseling and guidance, use of sophisticated

communication devices such as internet, mobile, fax, telex, and e-mail are the factors to

withstand the challenges before the Indian banks to deliver satisfactory service to their

customers.

The challenges faced by the banking industry have never been so complex. To be

operative in this tough environment, banks need to be ready to change and redefine the

way they do business.

With the implement of e-CRM services, banks can expect several advantages such

as streamlined processing, reduced transactions cost, better security and operational

control, multiple delivery channels for the customers, time to market, easy latent of new

products and the like. A sincere attempt has been made by the researcher to analyse the

efforts taken by the bankers to implement of e-CRM services. Thus, the complete

evaluation of the electronic customer relationship management in banking sector is being

undertaken. Particularly, this study is focused on Virudhunagar District, as this is an

important industrial as well as commercial centre in Southern part of Tamil Nadu, India.

 

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1.3 REVIEW OF LITERATURE

The available literature in the field of customer relationship management in banks

is extensive and keeping track of all of them and making a review is a formidable job.

But efforts were made to present an evaluation of the earlier studies and research works

done relating to the present study.

R. Rugimbana2 (1995) in his article titled, “Predicting Automated Teller

Machine Usage: The Relative Importance of Perceptional and Demographic Factors”

studied predicting Automated Teller Machine usage, the relative Importance of

perceptual and Demographic factors in Australia. The main purpose of this study was to

discriminate users from non-users, using the demographic variables of respondents and

their perceptions ATM alternative in order to assess the relative importance of these

predictor variables. The study, which was based on a survey of 430 retail banking

customers, found that perceptual variables were far more than respondent demographic

variables.

Denny and Stephanie3 (1998) in their article titled, “The Electronic Commerce

Challenge” have observed that the security of Internet access to client account is the

biggest challenge facing banks. For success in the increasingly competitive financial

services market, banks find that a comprehensive online banking strategy which provides

the essential security requirements is necessary. Security policy should include

management, commitment, technological support and effective dissemination of the

policy and the security awareness of all users.

According to Haverty4 (1998) in his article entitled, “Jack Electronic Commerce:

A User’s Guide” fact that E-CRM providing cost savings, opportunism, and threats drive

action and innovation even in conservative banks. They have influenced how banks must

re-position themselves to take advantage of new service delivery channels and new

markets for existing services. (loans, letter of credit and so on) Many banks have already

built web sites on the Internet, offering banking services. Leveraging the power of the

web is a move form static pages to dynamic applications that are connected to bank data.

 

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A web service gives real-time access to merchants for payment information rather than

waiting for hardcopy from bank.

According to Wrong Yim and E. Maher Thomas5 (1998) in their study on

“During Business with Dragons of different Breeds: Some Important difference between

China and Japan”, it is an attitude of trust among the patterns of substitute. It is a vital

aspect for understanding the potency of marketing relationship. Trust is an essential

relationship structure, which is found in most of all relationship models. Trust factor can

be seen in many ways like motivation to develop on a substitute partner and one who sees

confidence in him.

K.K. Bajaj6 (2000) in his article titled, “e-commerce Issues in the Emerging

Hi-tech Banking Environment” has highlighted e-commerce related issues due to the

adoption of recent I.T. All over the world, the traditional business of banks taking

advances and lending out the proceeds on terminal decline. The spread of IT and the

dramatic advances in financial theory have it cheaper for big companies to raise money in

the capital markets than from banks. It is also helping to cut costs by providing, cheaper

ways of delivering products to customers ATMs, telephone banking and a now the

internet banking. He also explained e-commerce, payment systems are emerging and

getting accepted in the market place.

According to M. Elias Awad7 (2000) in their study titled, “The Structure of

E-Commerce in the Banking Industry Fatt, J.P.T. (1998), “The Effect of Nonveal Sues on

Bank Patrons”, the most popular tool for customer service is e-mail. Inexpensive and fast,

e-mail is used to disseminate information (e.g. catalogues), to send product information

and order confirmations, to conduct correspondence regarding any topic with customers

and business partners, and responding to enquiries from customers, To answer a large

number of e-mails quickly and cost-efficiently automated e-mails quickly e-mail reply

systems are increasingly implemented. Automated e-mail reply response to customer

inquiries is developed using intelligent agents that recognize key words and quickly

respond to common queries. However, the greatest advantage of e-mail as a

communication tool is that of providing quick and accurate information to all customer

 

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queries. E-mails can include forms, reviews, referral and new contacts sent to customers

as attached files and how e-CRM bringing bridge between bank and customer through

e-mail business communication.

C. Jayawrdhena and P. Foley8 (2000) in their article titled, “Changes in the

Banking Sector-The Case of Internet Banking in UK” in their study among UK banks

found out the advantages for banks through using internet banking as cost savings,

increased customer base, mass customerization and marketing and communication

opportunities, innovation and development of non-core business. They categorized

internet banking functions into four: view-only functions, account control functions,

applying for new services and reconciliation functions.

According to D. Sims9 (2000) in his study on “What is CRM” delineated that

e-CRM systems support all stages of the interaction with the customer for example order

delivery and after-sales service. E-CRM systems cover online banking, e-mail,

knowledge bases that can be used to generate customer profiles and customer personalize

services and the generation of automatic help through customer e-bank interaction.

A.A. Al-Asban, and M.A. Burnney10 (2001) in their article entitled, “Customer

Adoption of Tele-banking Technology: The Case of Saudi Arabia” have indicated that

researching Saudi Arabian tele-banking consumers concluded that tele-banking has

results in substantial cost savings for the banks and has given rise the increase

convenience for the increasingly discerning consumers. They also found that customers

tend to increase their usage of tele-banking services depending on their past experience.

T.M. Bhasin11 (2001) in his article entitled, “e-commerce in Indian Banking” has

analysed the impact of IT on banking sector. The IT has revolutionalised various aspects

of our life. It has transformed the repetitive and overlapping systems and procedures into

simple single key pressing technology resulting in speed, accuracy and efficiency on

conduction business. The computerization of banks has provided a major push for

enabling them to enter into the newer activities. The banking industry has prepared itself

and is strongly emerging to play a major supplementary role in nurturing e-commerce

 

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applications which is still in the infancy stage in India while a few of the new generation

private banks have taken an early initiative in these innovative areas, other banks are

gradually catching up.

In a study on internet banking adoption factors in Finland, Mattila, Karjaluotu and

Pento12 (2001) conducted a factor analysis to develop a cognitive model of factors which

affect the adoption of internet banking. It was found that prior technological experience,

personal banking, reference group influence and security concerns are the main factors.

Further, the demographic characteristics and overall perceptions about internet banking

were also found to play a significant effect on the adoption.

V.N. Polatoglu and A. Ekins13 (2001) in their article titled, “An Empirical

Investigation of the Turkish Consumers’ Acceptance of Internet Banking Services” have

studied an empirical investigation of the Turkish Customer’s Acceptance Banking

services and found that cost and time saving dimensions are perceived as a major benefits

when customers use Internet banking more often and for larger transactions.

Stavins14 (2001) identified that white-collar consumers are most likely to use

e-banking. It can be postulated that occupation status is positively related to the choice of

e-banking. His study also showed that as the educational qualifications of consumers

increased, their adoption of e-banking would increase as well.

L.Bradely and K. Stewart15(2002) in their article on “A Delphi Study of the

Drivers and Inhibitors of Internet Banking” have concluded that the key drivers for bank

adopting internet banking were the external factors such as competition and industry

adoption, low risk, enhanced ability to deal with customer and the availability of

technology. The key inhibitors were mostly international like resistance to change and

legal issues.

H. Karjkarjaluto, M. Mattila. and T. Pento16 (2002) in their article entitled,

“Factors Underlying Attitudes Formation towards Online Banking in Finland” feel that

amongst Finnish bank customers showed that “prior experience” with computer and

 

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technology along with ‘attitudes’ towards computer, influence both attitudes and

bahaviour towards online banking.

P.A.M. Idowa, A.D. Alu and E.R. Adagunodo17 (2002) in their article entitled,

“Effect of Information Technology on the Growth of the Banking Industry in Nigeria”

have studied the Effect of Information Technology on the growth of the Banking Industry

in Nigeria. This study concentrated on the use of technology. It was noted that the use of

ICT ensured a quick and improved services delivery to customers in Nigeria, thus an

indicating desirable outcomes. While the above study showed positive correlates in

Nigeria it does not point to the study seeks to fill. Knowing the existence of telephone

banking technology in Kampala may not be enough. There is a need to investigate its

influence in order for the business enterprises to benefit from it.

Mohini Singh18 (2002) in his article on “e-services and their Role in B2C” has

indicated that faster processing of the transaction by e-CRM, the fact e-response to

customer queries, order acknowledgement, delivery and payment information via e-mails

or automated responses are greatly appreciated by customers. It has also been highlighted

that the nature of e-response also helps strengthen the relationship between the supplier

and the customer and makes up for the personal response that prevails in the traditional

shopping area. One of the business respondents emphasized that “via e-mail order

acknowledgement, we recognize and address our customers by their first names”,

strengthening e-relationships with this service. Another business viewed that “a close

relationship with customers can be developed from a distance with e-responses”. E-mail

responses were widely used business to acknowledge receipt of order, payment and

delivery of information. An e-response to say thank you, an apology for any delays,

tailored e-mails from analysis of shoppers profile to provide online shopping guidance

and to announce the release of new products and special supported online shoppers.

Customer responses confirmed the value of e-responses in the B2C e-space, e-CRM how

timely responds to customer for their requirements.

Moini Singh19 (2002) in his article titled, “Faster Processing the Transaction by

e-CRM” shows that the fact that e-response to customer queries, order acknowledgement,

 

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delivery and payment information via e-mail or automated response are greatly

appreciated by customers. Further he explained that online business organization

investigated that secure transactions and transmission of information are important

services offered to customers. It was emphasized by one of the respondents that “Many

potential web shoppers abort their transactions due to security fears.

C.S.V. Murthy20 (2002) in his book titled, “e-commerce: Concepts, Models and

Strategies” has said that internet is now spreading its wings and becoming a vital part of

human life information gathering, networking with others, research, internal and external

communication and entertainment. Sale and purchase are a few of the major business

applications of internet.

Rahman M. Lutfar21 (2002) in his study on “E-Commerce and Concern for

E-Commerce in Bangaladesh” observed the issues relating to electronic fund transfer

require security, availability, authenticity, non-reputability and audibility. He suggested

for appropriate control and efficient security measures and also for proper utilization of

audit trail in the e-commerce system.

Vyas and H. Parimal22 (2002) in their articled titled, “Online Buying: Fact or

Fiction” have stated in their research that there are many sites, which deal with the

electronic version of journals and magazines. The internet has also made possible, the

concept of a new market consisting of several virtual shops. The internet services are

widely used for various purposes by academicians. They use internet for searching study

materials, referring to libraries, online surveys and the like. In management institutions,

students use internet mainly for collecting information, communication, education,

acquiring knowledge and downloading, sending greetings and for online purchase.

Ali, Muhammad and Mahboob23 (2003) in their study titled, “E-Business in the

Age of Globalization: Bangladesh Perspective” have argued that Bangladeshi companies,

organisations have several problems to start full swing e-business. These include limited

resources, backwardness in technology, managerial inefficiency, socio- infrastructural

 

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problem such as corruption, default culture law and order situation, rampant corruption,

strike and so on which penetrate for long time.

Ali, Mohsin and Yasmeen24 (2004) in their article entitled, “E-Business in the

Globalized World with Special Reference to Bangladesh - An Analysis” observed that

maximize e-business efforts to focus on information dissemination, knowledge transfer

and technical assistance are required steps needed to create appropriate knowledge

among various procedures of e-business.

K. Eriksson, K. Kerem, and D. Nilsson25 (2004) in their study titled, “Customer

Acceptance of Internet Banking in Estonia” have studied the Customer Acceptance of

Internet Banking in Estonia and used the Technology Acceptance Model. They found

out that bank use increases in so far as customers perceive it as useful. It was also noted

that perceived usefulness of Internet banking for banks is a key construct for promoting

customer use.

J.K. Kolodinsky, J.M. Hogarth and M.A. Hilgert26 (2004) in their study titled,

“The Adoption of Electronic Banking Technologies by U.S. Consumers” show that

relative advantage, complexity/simplicity, compatibility, absorbability, risk tolerance, and

product involvement are important variables that affect the decision of adoption or

intention to adopt three e-banking technologies in U.S. However, it has also been noted

that income, assets, education, gender and marital status and age also affected adoption.

According to Y. Huang and Yu-Lin27 (2005) in their article titled, “Financial

Services Personalization” personalization is a strategy that can be easily differentiated

and which cannot be simulated by competitors in the market. A good personalized ides

will enhance in the increase of sales, improves the customer relationship. Personalization

can be defined as servicing the unique needs of individual customers. By improving the

customer satisfaction the organization can improve the customer relationship.

Personalised services are not only limited in cheering new sales, but its successful

implementation allows the organization to improve its effectiveness and efficiency in

servicing the customers established already.

 

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S. Laforet and X. Li28 (2005) in their article on “Customers’ Attitudes towards

Online and Mobile Banking in China” have studied Customer’s Attitudes towards Online

and Mobile banking. Insecurity was found to be the most important factor that motivated

Chinese customer adoption of online banking. Main barriers to online banking were the

perception of risks, computer and technological skills and Chinese traditional cash-carry

banking culture.

T. Laukkanen and M. Pasanen29 (2005) in their paper titled, “Characterizing the

Users of Mobile Banking: A Distinct Group of Online Customers” have investigated the

variable that differentiated between the users of mobile banking and other online banking

services with the help of logistic regression. The result indicated that only age and gender

differentiate these groups of customers and not other variables such as education,

occupation and income. The result offers service providers better knowledge of the

typical mobile banking user and thus adding value to their marketing actions in the field

of e-banking.

B. Karin, L. A. Laurine and R. Dave30 (2005) in their article titled, “Evaluating the

Efficiency of Credit Card Regulation” have studied Evaluating the Efficacy of Credit

Card Regulation in U.S.A and used the elaboration likelihood model to explore how

consumers might respond to the revised credit card disclosure requirement, focusing

specifically on college students. Random selection approach was used and it was noted

that college students possessed a fairly low level of knowledge of credit card thus are not

very overall equipped to make educated choices concerning such cards.

A. Egesa31 (2006) in his report on “Computer Utilization in the Management of

the Students’ Information in TORORO Municipal Secondary Schools” has studied

Computer utilization in the management of student’s Information in Uganda and revealed

that limited no of computers was one of the major obstacles, which hinders effective

utilsation of computer in the management of students’ data. Although the above studies

correlated ICT with usage and management review of these empirical studies does not

show any relationship between ICT and the banking industry.

 

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Gan et al.32 (2006), in his article entitled, “A Logit Analysis of Electronic

Banking in New Zealand” has identified the decision-making factors that consumers use

when deciding between electronic banking and non-electronic banking in new Zealand.

These factors service product characteristics and individual factors. The demographic

variables include age, gender, marital status, ethnic, background, educational

qualification, employment income and area of residence. The findings of the research

confirmed positive relationship between the service quality and user input factor

dimensions and electronic banking.

P. Gerrard, J.B. Cunningham and J.F. Devline33 (2006) in their study on “Why

Consumers are not Using Internet Banking: A Qualitative Study” have conducted a study

among Singapore bank customers and identified eight characteristics relationship to the

adoption of internet banking such as social desirability, compatibility, convenience,

complexity, confidentiality, accessibility, economic benefits and PC proficiency as eight

influential factors of adoption.

Jhawar, Suyash and V.K. Jain34 (2006) stated that the internet is a worldwide

communication network linking together millions of computer via telephone lines. It

offers number of facilities such as e-mail, FTP, Telnet and www(world wide web).

Government individually runs the internet’s component networks academic, commercial

and voluntary organizations. The internet evolved from the basic ideas of ARPANET for

interconnecting computers and was initially used by research organizations and

universities to share and exchange information.

According to O. Aihie and B. Eddine35 (2007) in their article titled, “An

Exploratory Study of Implementation of Customer Relationship Management Strategy”

have studied that a CRM is an idea, which has its heredity line in the technology. In the

earlier days relationship marketing’s sole aim to get information about the preferences of

the customers and the information, which was stored by them in their databases so as to

protect and deal with one to one relationship with customers CRM was developed. Once

when the organization acquires the customers and is able to have them lastingly forever,

this implies that the “customer becomes more loyal and making good use of the services

 

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of the organization. Trust, co-operation and satisfaction have to be soon as the face of

assurance between both the parties, for a long lasting relationship with customers.

Organisations need to be in constant touch with their customer’s in order to buildup

long-term relationship

H.C. Puohit and D. Pathardikar36 (2007) in their study on “Service Quality

Measurement and Customers Perception about the Service of Banking Institutions” have

measured the perception and satisfaction level of the customers about the different

services of PSBs in the eastern part of Uttar Pradesh. They used a seven point Linkert

Scale of Questionnaire ranging from excellent to worst to measure the five service quality

dimensions – SERUQUAL, namely tangibility, assurance, reliability, responsiveness and

empathy. It was found that the perception of the customers may differ due to the

behaviour of the individual employees of the bank. Almost all the services were rated as

good by the respondents, except for loaning interest rate and mortgage facilities. There is

a significance difference in the performance of reliability of service among the PSBs.

S. Sudalaimuthu and J. Lilly37(2007) in their article entitled, “Customer’s

Perception of CRM Practice Adopted in Banks” have observed that the demographic

factors such as sex, educational qualification, occupation, marital status and income of

the respondents have a direct impact on the customer’s perception of the service

rendered by the banks and have a significant relationship with the respondent’s frequency

of transaction and with the respondent’s opinion on e-banking services.

Ahmed and Islam38 (2008) in their article tilted, “E-Banking: Performance

Problems and Potential in Bangladesh” have examined that adopting e-banking services,

banks in developing countries are faced with strategic options between the choice of

delivery channels and the level of sophistication of services provided by these delivery

channels.

Aruna Dhade and Manish Mitall39 (2008) in their article entitled, “Preference,

Satisfaction Level and Chances of Shifting: A Study of Management” have observed

customer services provided by the PSBs changed after the entry of the private sector

 

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banks. Males pay more attentions to the process time of transaction and availability of

technology, while female pay more attention to customer service and easy accessibility.

People in the age group of 18 – 29 are more concerned with the process time of

transaction and technology, whereas people in the age group of 30 – 60 are more

concerned with the process time of transaction and easy accessibility, proximity to

residence and delay in processing time can be reasons for shifting from the existing bank

for a new one in the case of private bank customers, proper customer care, number of

years in business and easy accessibility are considered the important factors that

influence a customer’s choice of the bank

Geetika, et.al.,40 (2008) in their article titled, “Internet Banking in India : Issues

and Prospects” have presented a model to map the banks on the basis of their size and the

services offered by them. This model has been applied to locate the major banks in India

offering internet banking. The information of services offered by them was collected

from the websites and brochures of these banks. A survey was conducted among the

internet users in selected regions. The major findings of the survey were analysed by

using qualitative as well as quantitative techniques. All the major issues covered under

the survey have been tested by using sampling statistics. On the basis of the findings,

two-wheelers hypotheses have been framed with the objective of findings, the difference

in perception of users and non-users regarding one, the choice of the bank and two,

security issues. The hypotheses have been tested by using the chi-square test and ‘t’ test

methods

Eriksson, Kerem and Nilson41 (2008) in their article titled, “The Adoption of

Commercial Innovations in the Former Control and Eastern European Markets: The Case

of Internet Banking in Estonia” have examined the innovation adoption in the context of

internet banking in Estonia which is one of the highest levels of internet banking in the

world. Based on a survey of 1831 bank’s customers, they note that relative advantage and

compatibility have significant, but weak, negative effects n adoption. They proved that

the factors influencing the use of internet banking are unique and not mixed with factors

influencing banking in general.

 

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K. Padachi, S. Rojid and B. Seetanah42 (2008) in their study on “Analyzing the

Factors that Influence the Adoption of Internet Banking in Mauritius” have observed that

inter account transfer, payment to other personal account, transfer to credit card account,

recharge mobile phones amongst others were the mostly used services among 200

customers in Mauritius. Ease of use, trust, cost of computers internet accessibility and

security concerns are important elements for the adoption of internet banking.

N.B. Permkumar and J. Esther Ganapoo43(2008) in their article on

“E-Banking, the Essential Need of To-day” have included that the current trends are quite

comforting for customers but they do pose threats and problems to the banks. As we find

information technology invading the banking sector, only banks which use the right

technology could come out successful. Banks are required to “restructure”,

re-invest and re-engineer themselves to met the necessary performance improvement and

get the competitive edge due to the introduction of information technology.

E-banking being an important output of information technology, it has ushered in an era

which is transforming the entire functioning of banks. The tilt in the banks from

traditional services to modern e-banking has been welcomed for its advantages, but banks

in India are taking time to get rooted. Banks are slow but are going to offer further

e-banking services to keep pace with the evolving pattern of customers demands.

Shamsuddoha and Mohammad44 (2008) in their study on “Electronic Banking in

Bangladesh” have argued that in Bangladesh, banking industry is mature to a great extent

than the earlier period. It has developed superb image in their various activities including

electronic banking. Now modern banking services have been launched by some

multinational and new local private commercial banks. Electronic banking is one of the

most demanded and latest technologies in banking sector.

R.K. Uppal45 (2008) in his study titled, Customer Perception of e-banking

Services of Indian Banks” has concluded that a majority of the customers of e-banks are

highly satisfied with e-banking services. The customers prefer e-channels with time and

cost utility which provide efficient service. Customers are not fully aware of the

operational part of each channel and their transactional facilities. On the basis of the

 

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observations of the respondents, the future of e-banking services is bright and many hope

that in the coming years of these e-channels will definitely help in the transaction of

banking in a positive manner.

Wai-ching Poon and Boo-chen Tan46 (2008) in their article titled, “Speed of

e-banking in Malaysia: A Customer Perspective” have concluded that the internet

accessibility, awareness, cost, trust in bank, security concern, reluctance of customers to

ease of used and convenience are the major factors affecting the adoption of electronic

banking services in Malaysia. The advantages of e-banking are modest when compared

to other online channels. It is one of the fastest rising services and is a powerful tool for

improving customer satisfaction as well as increasing cross-selling opportunities.

Therefore, banks should keep track of the ever-changing banking industry and the latest

updates of internet technology to comfort future competition. Despite all the frenzy

about e-banking, banks should not neglect that their branch networks face to face

communications is still vital.

A.A. Adesina, R.K. Awosolo and D. Afolabi47 (2009) in their article entitled,

“Influence of Demographic Variables and e-banking on Perceived Customer Service

Delivery in the Nigerian Banking Sector” have examined the influence of demographic

variables and influence of demographic variables and electronic banking on perceived

customers service delivery in the Nigerian banking sector. The result shows that the sex

of customers has a significant influence on service quality perception the electronic

banking has a significant influence on service quality perception. The electronic banking

has a significant influence on customer’s perception of quality service delivery, but the

age of the customer has no significant influence on it.

A study by O. Bhavani and K.V.N. Sandhya48 (2009) in their article entitled,

“Customers Perception on Banking Services of SBI” have revealed that during the busy

hours customers are not attended to properly. It takes a long time for transactions, low

funds in ATMs. Most of the time SBIs ATMs are out of order and majority of the

customers opine that the bank officials are not courteous towards customers.

 

18

Nyangosi, Arora and Singh49 (2009) in their article entitled, “The Evolution of

e-banking: A Study of Indian and Kenyan Technology Awareness” have argued that

banking through electronic channels has gained increasing popularity in recent years.

This system, popularly known as “e-banking”, provides alternatives for faster delivery of

banking services to a wide range of customers. The overall result indicates that customers

in India and Kenya have developed positive attitudes and they attach mush importance to

the emergence of e-banking.

Padachick, S. Rojid and B. Seetanah50 (2009) in their article titled,

“Investigating into the Factors that Influence the Adoption of Internet Banking in

Mauritius” have analysed the factors that influence the adoption of internet banking in

Mauritius comparing demographic variables of the internet banking users to the

non-internet banking users, the analysis revealed that there is no significant difference

between the two groups of users with respect to age and the education level. This is,

however, not the case for the mean monthly income. It was also found that the most

significant factor is the ease of use, whereas the restraining factors include reluctance to

change, trust in and relationship with the banker, cost of computers, internet accessibility,

convenience of use and security concerns.

R.K. Uppal and Pooja51 (2009) in their article titled, “E-Delivering Channels in

Banks: Customer Perception”, have stated that productivity and profitability can be

increased by using e-banking. It has been observed that the performance of many private

sector banks and foreign banks operating in India is better than that of PSBs. The main

reason for this is the latest technology used by the former. It is seen that the customers of

PSBs are slowly shifting to private sector and foreign banks. The level of PSBs

customer’s services and satisfactions is determined by the branch location, deign, variety

of services, rates and charges, systems and procedures and attitudes.

Ali, Saida, Samar and R.K. Bharadwaj52 (2010) in their article entitled, “Factor

Analysis Approach of Decision-making in Indian e-banking: A Value Adding

Consumer’s Perspective” have observed key question why customers are not adopting

 

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mobile banking. Various factors may influence customers’ adoption. It is unless

customers perceive the service to be useful.

Astha and Arvind53 (2010) in their article titled, “Evolution of Mobile Banking

Regulation” have observed that after the launch of mobile banking in India, mobile

banking transactions have seen some growth, attracts customers to mobile banking is the

round the clock availability and ease of transactions have been some growth. What

attracts customers to mobile banking is the round the clock availability and ease of

transactions. But mobile banking still has a long way to go to as majority of customers

prefer banking in the traditional ways.

M. Selvakumar an E.L. Ramar54 (2010) in their article entitled, “Customer

Relationship Management in Banking Sector” have studied that the customer relationship

management in banking sector. The study concludes that customers is the King under the

customer relationship management concept. CRM helps the banking to develop an

enduring relationship with customers thereby ensuring profitability, service at the right

time, the used of innovative method creation of a large customer base, installation of a

simple and customer friendly system and welcoming customers complaints are some of

the quality services which should be provided by the bank, in order to ensure a better

life-long-term relationship with the customers. Implementing the CRM concept will

attract more customers and consequently more revenue to the bank.

R.K.Uppal55 (2010) in his article titled, “Customer Perception of e-banking

Services of Indian Banks: Some Survey Evidence” has studied the mobile banking in

Indian banking industry. The study concludes that among all e-channels, ATM is the

most effective while mobile banking does not hold a strong position in public and old

private sector but in new private sector banks and foreign banks m-banking is good

enough with nearly 50 per cent average branches providing m-banking services.

m-banking customers are also the highest in e-banks which have positive impact on net

profits and business par employee of these banks. Among all, foreign banks are on the

top position followed by new private sector banks in providing m-banking services and

their efficiency is also much higher as compared to other groups.

 

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Shruti56(2011) in her study on “A Success Mantra for Mobile Banking in India”

has concluded that mobile banking in India is slowly picking up. Different stakeholders

responsible for the success of mobile banking services and regulators such as RBI, TRAI

and Banks – Guidelines set by the RBI provide that mobile banking be done only in

Indian currency (Rupees) by licensed and physically present banks in India. The services

shall be restricted only to customers of banks and holders of credit or debit cardholders.

M. Vijay and Kumbhar57 (2011) in their article titled, “Scope and Problems of

m-banking Solution for Unbanked: A Review of Indian Economy” have observed that

there is need of m-banking for financial inclusion of poor and urban people. Last five

years, mobile telephone service extended tremendously in India and it provides golden

opportunities to extend m-banking service in India. However, because of various

problems in m-banking system, this is not widely accepted by Indian Bank customers.

Hence, there is need to improve m-banking service including network coverage and

security in m-banking.

M.Vijay and Kumbhar58 (2011) in their article entitled, “Determinants of

Internet Banking Adoption: An Empirical Evidence from Indian Banking” have showed

that demographic characteristics, internet access, awareness, customer education, cost

effectiveness and service quality were the most important factors in adoption of internet

banking. Therefore, banks need to develop their internet banking services according to

demographic characteristics and the needs of the possible customers as well as existing

Customers for retain than and encourage to more use to internet banking services.

R.K. Sharma and V. Alagu Pandian59(2012) in their articled entitled, “Customers

Attitude Towards ATM Services of Bank in Rajapalayam” have showed that ATM helps

the people to take money whenever needed by them and also during emergency

conditions. It is also concluded that the people of Rajapalyam expect more ATM centre

in all parts of the town rendering 24 hours services and with the facility of getting money

in all denominations.

 

21

M. Selvakumar and E.L. Ramar60(2012) in their article titled, “Sales Promotional

Strategies for Banks” have examined the various strategies followed by the Indian Banks.

They observed that the bank has framed a strategy to concentrate in rural and semi-urban

areas for business promotion. As the competition from private and foreign banks in

urban and metropolitan centre is stiff, it is wise to market safely in the areas where the

bank has good presence through large net work of branches and competition is not that

formidable.

M. Selvakumar and E.L. Ramar61(2012) in their article titled, “e-CRM in

Indian Banks: An Overview” have presented e-CRM techniques used by banks in India.

The article concluded that maintain and managing the customer relationship will become

more competitive by added development and development of e-CRM convenience,

customer interaction and satisfaction are more advantage provided by the online banking

industry through the usage of e-CRM. The usage of e-CRM has speeded up the

transactions with a better rate of accuracy and trust in the banking industry.

Prasad Vasanth Joshi62 (2013) in his article entitled, “Reverse Innovation

Application in Banking Sector” has concluded that Canara Bank, Punjab National Bank,

J and K Bank and Bank of Baroda which are very efficient and they have a consistency in

their performance. Banks like SBI, ICICI can be a matter of concern as their efficiency

scores are below satisfactory level, however, ICICI Bank has shown a remarkable

improvement in the last year. The developed portion of the banking sector should adopt

new and innovative business strategies so that along with the improvement in the

business volume, there should also be improvement in the efficiency of the banks.

Reserves innovation is all about the developed ones learning and adopting the innovative

strategies and techniques from the developing counter parts. The new and upcoming era

seems to be of reverse innovation where the innovation would flow in reverse direction

that is from developing ones to the developed ones.

 

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1.4 SCOPE OF THE STUDY

The study is mainly planned to analyse the opinion of customers about

e-CRM services namely, ATM services, internet banking service and mobile banking

service of banks in Virudhunagar District. Further the study also analyses the view of

bank employees about e-CRM services of banks in Virudhunagar District.

1.5 OBJECTIVES OF THE STUDY

This research has been undertaken with the following objectives

To understand the profile of the customers in the study area.

To analyse the internet banking services provided by the banks in Virudhunagar

District.

To analyse the ATM Services provided by the banks in Virudhunagar District.

To analyse the Mobile Banking services offered by the banks in Virudhunagar

District.

To study the perception of the customers on e-CRM services of banks in

Virudhunagar District.

To analyse the opinion of bank employees about e-CRM services of banks in

Virudhunagar District.

To offer suitable suggestions on the basis of findings of the study.

1.6 OPERATIONAL DEFINITION OF CONCEPTS 1.6.1 Bank

Bank is a place in which transactions namely accepting and repaying of money

between the banker and the customer takes place.

1.6.2 Banking

Banking can be defined as “Accepting for the purpose of lending and investment,

deposits of money from the public, repayable on demand, order or otherwise and

withdrawable by cheque, draft order or otherwise”.

 

23

1.6.3 Banker

A banker is one who in the ordinary course of his business honours cheques

drawn upon him by persons from and for whom he receives money on current accounts.

1.6.4 Customer

A person having some sort of deposits in the bank is called customer.

1.6.5 Electronic Banking (e-banking)

E-banking is the process of Bank transaction using electronic tools and facilities.

1.6.6 Electronic Money (e-money)

E-money is an electronic store of monetary value on a technical device.

1.6.7 Electronic Cheque (e-cheque)

An electronic payment device that involves the use of networking services

whereby the e-customers issue digit cheques to e-merchant malls to settle transactions

carried over the internet.

1.6.8 Electronic Purse (e-purse)

E-purse is a wallet-sized smart card, embedded with programmable chip which

stores e-money to be used in virtual trading environment for making payment.

1.6.9 Mobile Banking

Mobile banking is a system of providing services to a customer to carry out

banking transactions on the mobile phone through a cellular phone service – provider.

Banks have to provide facilities to their customers whenever they are in need and

wherever they are. This facility is called as “Anywhere and Any Moment Banking”.

1.6.10 Automated Teller Machines (ATMs)

Automated Teller Machines (ATMs) are machines, installed at a bank branch or

other location, being capable of withdrawing money, displaying the customers’ balance,

taking orders for cheque books and settlements, printing a receipt, accepting and

recording deposits or printing a mini-statement of the customers’ recent transactions.

1.6.11 Internet Banking

Internet banking enables a customer to perform banking transactions through the

bank’s website. This is also called virtual banking, net banking or anywhere banking. It

 

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is like bringing the bank to one’s computer at the place and time of one’s choice. This

can be very useful, especially for banking outside bank hours through internet access.

1.6.12 Customer Relationship Management (CRM)

Customer Relationship Management (CRM) is neither a product nor a service, but

a business strategy to learn more and more about the customers’ behaviour and

requirements in order to create a long-term term relationship with them.

1.6.13 Electronic Customer Relationship Management (e-CRM)

e-CRM or web-based CRM system is fundamentally less cumbersome and less

expensive to implement than traditional CRM because e-CRM can be extended more

easily to users everywhere in the company through the internet. The value of e-CRM

goes beyond mere cutting of costs. The adoption of technology allows companies to

capture customer feedback at more of the “touch points” between a company and its

customers.

1.7 HYPOTHESES OF THE STUDY In this study, the following hypotheses are framed:

There is no significant relationship between the overall mean and the individual

mean of the statements with regard to the opinion of respondents for internet

banking services.

There is no impact of socio-economic factors namely gender, age, educational

qualification, occupation, income of the customers on motivational factors for the

use of internet banking services.

There is no relationship between the socio–economic conditions of the customers

and their level of opinion on benefits of ATM services.

There is no significant difference between the opinion level of customers of

public sector banks and private sector banks towards the benefit of ATM service.

The favourable opinion of customers and the unfavourable opinion of customers

regarding mobile banking do not differ significantly.

There is no significant difference in the opinion of the bank employees about the

e-CRM services.

 

25

1.8 PERIOD OF THE STUDY

The data required for the study were collected during the year 2010-11.

1.9 AREA OF THE STUDY

Virudhunagar District of State of Tamilnadu is chosen for the area of the study.

Previously the district was called Kamarajar District and which was formed on 15th July

1984 and was named after the freedom fighter and former Chief Minister of Tamil Nadu,

Shri K. Kamaraj. The district started functioning on 15th March 1985. Later, there was a

continuous class struggle among the various sections of the people in the southern

regions of Tamil Nadu. Hence, the Government of Tamil Nadu changed the name of

Kamarajar District into Virudhunagar District on 1st July 1997. Now, the district is

functioning with Virudhunagar town as its head quarters.

Virudhunagar District has been divided into two revenue divisions one at Sivakasi

comprising Srivilliputtur, Rajapalayam, Sattur and Sivakasi taluks and the other at

Aruppukottai comprising Aruppukottai, Kariapatti, Virudhunagar and Thiruchuli taluks.

It has 11 community development blocks namely, Rajapalayam, Sivakasi, Virudhunagar,

Sattur, Aruppukottai, Vembakottai, Srivilliputtur, Watrap, Thiruchuli, Narikudi and

Kariapatti, six municipalities such as Aruppukottai, Virudhunagar, Sattur, Sivakasi,

Srivilliputtur and Rajapalayam, 600 revenue villages, 464 village panchayats, 11

panchayat unions and 10 town panchayats. It covers one parliamentary constituency and

six assembly constituencies.63

1.10 METHODOLOGY

The study is based on both primary and secondary data. The primary data have

been collected from both the customers and the employees of banks in Virudhunagar

District with the help of pre–tested interview schedule and questionnaire respectively.

The secondary data have been collected from the records of banks, published and

unpublished books, journals, reports, and circulars issued by the Reserve Bank of India,

encyclopedia and through web sites.

 

26

1.11 SAMPLING DESIGN

There are 131 branches of 15 public sector banks and 8 private sector banks in

Virudhunagar District. It is not feasible to collect the data from customers of all the 131

branches. Therefore it is decided to use sampling technique. Out of these 131 branches,

65 branches (50%) have been selected through proportionate random sampling method.

Five customers from each branch amounting to 325 customers have been selected

through judgment sampling method.

The opinion of the bank officials connected with the banking system on the

implementation of e-CRM services of banks has been ascertained by means of

questionnaire. All the respondents are contacted with questionnaires. Only 83

respondents expressed their option to give their opinion. Therefore, the researcher

collected the opinion from 83 bank officials about e-CRM services.

1.12 PLAN OF ANALYSIS

The data are analysed by using appropriate statistical techniques such as

Percentage, Garrett Ranking technique, Sign Test, Analysis of Variance Test (ANOVA),

Likert’s Scaling Technique, Chi-square Test, t-test, Factor Analysis and K.S. Test.

The percentage techniques has been used throughout the report to express the

opinion of the respondents. The Garrett Ranking Technique is used to rank the reasons

for using internet banking and ATM services.

In order to know the significant difference in the opinion of the respondents, Sign

Test has been used. The Analysis of Variance Test has been used to know the influence

of socio–economic factors of customers on the motivational factors for using the internet

banking.

To analyse the influences of socio–economic factors of the customers on the level

of opinion of ATM services, the t-test has been applied.

The Factor Analysis has been used to identify the factors which are responsible

for the performance of banks with regard to e-CRM services. Mathematically, Factors

 

27

Analysis is somewhat similar to Multiple Regression analysis. Each variable is expressed

as a linear combination of underlying factors. The amount of variance, a variable shares

with all other variables included in the analysis, is referred to as communality. The

co-variation among the variable is described in terms of a small number of common

factors plus a unique factor for each variable. These factors are not over observed.

If the variables are standardized, the factor model may be represented as :

Xi = Ai1 F1 +Ai2F2+Ai3F3+……..+AimFm+ViUi

Where

Xi = ith Standardised variable

AiI = Standardised multiple regression coefficient of variable i on common factor j

F = common factor

Vi = Standardised regression coefficient of variable I on unique factor i

Ui = the unique factor for variable i

m = number of common factors

The unique factors are not correlated with each other and with the common

factors themselves can be expressed as linear combinations of the observed variables.

Fi = Wi1 X1 +Wi2X2+Wi3X3+……..+Wik+Xk

Where

Fi = estimate of ith factor

Wi = weight or factor score coefficient

K = number of variables

It is possible to select weights or factor score coefficient, so that the first factor

explains the largest portion of the total variance. Then a second set of weight can be

selected, so that it is the second factor accounts for most of the residual variance, subject

to being uncorrelated with the first factor. This same principle could be applied to

 

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selecting additional weights for the additional factors. Thus, the factors can be estimated,

so that their factor scores, unlike the value of the original variables, are not correlated.

Furthermore, the first factor accounts for the highest variance in the data, the second

factor the second highest, and so on.

For the purpose of analysis of the opinion of the bank employees on specific

statements, null hypothesis was formulated. The formulated hypothesis was tested with

the help of the Kolmogorov Smirvo Test (K.S.Test) which has the following form.

D = O-E

Where

D – refers to calculated value

O – refers to cumulative observed proportion and

E – refers to cumulative expected proportion.

1.13 LIMITATIONS OF THE STUDY

The study has the following limitations:

1. The main difficulty may be collection of information for the study. The customers

may be hesitant to provide the necessary information. The researcher has to visit a

number of times to contact the respondents and collection information.

2. The research covers Virudhunagar District only.

3. Based on their own experience, interest and distaste, the respondents might have

given biased opinion.

4. Though there are 131 branches of 15 public sector banks and 8 private sector

banks in Virudhunagar District, due to research design, the researcher has selected

5 customers from 65 branches for the purpose of the study.

5. In the Questionnaire method of collecting data, it is difficult to derive the exact

information and it has some limits regarding personal things.

 

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1.14 CHAPTERISATION

The present study entitled “A study on Electronic Customer Relationship

Management Services of Banks in Virudhunagar District has been organized into eight

chapters.

The first chapter, “Introduction and Design of the Study”, covers introduction,

review of literature, statement of the problem, objectives, scope, importance,

methodology adopted and chapertisation.

The second chapter, “Profile of the Customers” studies the profile of the

customers of the banks in Virudhunagar District.

The third chapter discusses the opinion of the respondents about internet

banking. It also analyses the influences of socio – economic factors of customers on the

various motivational factors for using internet banking.

The fourth chapter analyses the ATM Services of the Banks. It also examines

the influence of the age, sex and educational qualification on opinion about benefits of

ATM service.

The fifth chapter evaluates the mobile banking services in Virudhunagar District.

Further, it examines whether the difference exists between the favourable and

unfavourable opinion of respondents towards mobile banking services or not.

The sixth chapter attempts to identify the significant and importance dimensions

of factors which influence the e-CRM services of bank branches.

The seventh chapter analyses the opinion of employees about e-CRM services of

banks. It also examines whether the opinion of bank employees differ significantly or not.

The eighth chapter presents the important findings of the study and also offers

the valuable suggestions.

 

30

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