e-Customer Relationship Management with Special Reference to Commonwealth Bank of Australia

E-CUSTOMER RELATIONSHIP MANAGEMENT
Contents
Introduction......................................................................................................................................4
Commonwealth Bank of Australia..............................................................................................4
e-Technology Opportunities faced by the Bank..............................................................................5
Technology of Blockchain...........................................................................................................5
Digital and Mobile Banking........................................................................................................5
Banking through Wearable..........................................................................................................6
Partnership through e- Technologies...........................................................................................6
E-CRM Initiative Implemented by the Bank...................................................................................6
Commbank app............................................................................................................................7
NetBank.......................................................................................................................................7
Wearables and Digital Wallets....................................................................................................7
Commbank Youth app.................................................................................................................8
Ethical Issues and e-CRM Implementation.....................................................................................8
Use of Customer Data for Banking Purpose................................................................................9
Privacy Issue................................................................................................................................9
Disposing Customer’s Data without their Knowledge..............................................................10
The success of Implemented e-CRM Initiative.............................................................................10
Increased in Customers..............................................................................................................11
Increased Sales Revenue............................................................................................................11
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E-CUSTOMER RELATIONSHIP MANAGEMENT
Increased Rate of Accuracy.......................................................................................................11
Recommendations..........................................................................................................................12
Bibliography..................................................................................................................................13
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E-CUSTOMER RELATIONSHIP MANAGEMENT
Introduction
Electronic customer relationship management is commonly known as e-CRM. It is the process,
which helps in maintaining a customer relationship with the help of e technologies like emails,
chats, websites, social media, online transactions and many more. The process is well-structured
and included a series of steps that connect the organization to its customers through electronic
ways. Electronic ways mainly include CRM through internet, intranet, and extranet. Its main aim
is to maintain a healthy relationship between a company and its customers (Grandori, 2010). In
this project, report impact of e-CRM on commonwealth bank of Australia is analyzed. In order to
identify the extent to which the bank is involved in e-CRM practices and is successful.
Commonwealth Bank of Australia
Commonwealth Bank of Australia is an international bank that is headquartered in Australia. It
was founded in the year 1911 by the Australian government and is privatized in the year 1996.
Its main functions are to provide various integrated financial services to its customers that
include retail, business, and premium banking, Management of funds, superannuation, services
related to insurance, share broking of products and services and investment options (Commbank,
2019).
The services provided by the bank to its customers are from both the ways that are manually and
electronically. On the other hand, the relationship maintained by the bank with its customers is
also by these two ways. In this report, electronic way adopted by commonwealth bank is going to
analyse effectively.
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