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CONTENTS
1. INTRODUCTION ................................................................................................................ 2
2.CRM IN RETAIL BANKING: CURRENT TRENDS AND DYNAMICS: ................................................ 3
3. CRM OBJECTIVES IN BANKING SECTOR: ............................................................................. 3
I. SOCIAL MEDIA FOR CUSTOMER CARE IN RETAIL BANKING SERVICE: .................. 4
1. ENHANCING THE BRAND: ................................................................................................ 5
2. REDUCING COSTS: ......................................................................................................... 5
3. CREATING AND IMPROVING INNOVATION: ......................................................................... 6
4. INCREASING REVENUE: ................................................................................................... 6
5. A UNIQUELY CHALLENGING INDUSTRY: ............................................................................ 7
6. A PATH TOWARD SOCIAL MEDIA MASTERY: ....................................................................... 7
7. CRAFTING A SOCIAL MEDIA STRATEGY: ............................................................................ 8
8. CRAFTING THE VISION: .................................................................................................. 8
9. DEFINING AND MEASURING SUCCESS: .............................................................................. 8
10. GOVERNANCE: ........................................................................................................... 9
11. TECHNOLOGY: ........................................................................................................... 9
12. CONCLUSION FOR SOCIAL MEDIA: ................................................................................. 9
II. DEPLOYING CUSTOMER SERVICES IN THE CLOUD TECHNOLOGY: ...................... 10
1. FINDING COST SAVINGS IN THE CLOUD: .......................................................................... 11
2. WHAT OPPORTUNITIES DOES THE CLOUD CREATE FOR BANKS BEYOND COST SAVINGS? ......... 11
3. BUILDING A FRICTIONLESS AND FLEXIBLE ECOSYSTEM: ................................................... 12
4. CONSUMER CLOUD COMPUTING: ................................................................................... 12
5. THE RISE (AGAIN) OF ANALYTICS: ................................................................................. 12
6. HAVING CONFIDENCE IN CLOUD COMPUTING: ................................................................. 13
7. MAKING THE MOVE TO THE CLOUD: .............................................................................. 14
8. A JOURNEY NOT A DESTINATION: ................................................................................... 14
III. USING MOBILE TECHNOLOGY TO ENHANCE CUSTOMER SERVICE: ................. 15
1. MOBILE TECHNOLOGY FOR INCREASED PRODUCTIVITY & PROFITABILITY: ......................... 15
2. NETWORKING AND COMMUNICATION: ........................................................................... 16
3. DEVELOPMENT: .......................................................................................................... 17
4. MARKETING: .............................................................................................................. 17
5. COMMERCE: ............................................................................................................... 18
6. BENEFITS: .................................................................................................................. 19
CONCLUSION ..................................................................................................................... 20


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1. Introduction
Today, many businesses such as banks, insurance companies, and other service providers
realize the importance of Customer Relationship Management (CRM) and its potential to help them
acquire new customers, retain existing ones and maximize their lifetime value. At this point, close
relationship with customers will require a strong coordination between IT and marketing
departments to provide a long-term retention of selected customers. This paper deals with the role
of Customer Relationship Management in banking sector and the need for Customer Relationship
Management to increase customer value by using some analitycal methods in CRM applications.
CRM is a sound business strategy to identify the banks most profitable customers
and prospects, and devotes time and attention to expanding account relationships with those
customers through individualized marketing, repricing, discretionary decision making, and
customized service-all delivered through the various sales channels that the bank uses. Under this
case study, a campaign management in a bank is conducted using data mining tasks such as
dependency analysis, cluster profile analysis, concept description, deviation detection, and data
visualization. Crucial business decisions with this campaign are made by extracting valid,
previously unknown and ultimately comprehensible and actionable knowledge from large
databases. The model developed here answers what the different customer segments are who more
likely to respond to a given offer is which customers are the bank likely to lose who most likely to
default on credit cards is what the risk associated with this loan applicant.
Finally, a cluster profile analysis is used for revealing the distinct characteristics of each
cluster, and for modeling.



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2.CRM in retail banking: current trends and dynamics
Today, more than ever before, the ability to maximize customer loyalty through close and
durable relationships is critical to retail banks ability to grow their businesses. As banks strive to
create and manage customer relationships, several emerging trends affect the approach and tools
banks employ to achieve sustainable growth. These trends reflect a fundamental change in the way
banks interact with the customers and those they want to acquire.
How can a retail bank drive growth? Traditionally, banks have grown through an aggressive
strategy of acquiring direct competitors and taking over their branch networks. Today, that strategy
is no longer sufficient, since it doesnt create organic growth for the financial institution. To build
stronger customer loyalty, banks need improved customer knowledge to develop products and
deliver services targeted at specific market segments, resulting in more directed marketing, sales
and service tactics. This is not to say M&As will not continue to be an effective way to expand
product offerings and service capabilities. However, retail banks will focus on acquiring businesses
that have essential products or capabilities to complete the banks portfolio of offerings. The goal to
gain greater wallet share of current customers and support their organic growth.
3. CRM Objectives in Banking Sector
The idea of CRM is that it helps businesses use technology and human resources gain
insight into the behavior of customers and the value of those customers. If it works as hoped a
business can provide better customer service, make call centers more efficient, cross sell products
more effectively, help sales staff close deals faster, simplify marketing and sales processes, discover
new customers, and increase customer revenues.It doesn't happen by simply buying software and
installing it. For CRM to be truly effective, an organization must first decide what kind of customer
information it is looking for and it must decide what it intends to do with that information. For
example, many financial institutions keep track of customers' life stages in order to market
appropriate banking products like mortgages to them at the right time to fit their needs. Next, the
organization must look into all of the different ways information about customers comes into a
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business, where and how this data is stored and how it is currently used. One company, for instance,
may interact with customers in a myriad of different ways including mail campaigns, Web sites,
brick-and mortar stores, call centers, mobile sales force staff and marketing and advertising efforts.
Solid CRM systems link up each of these points. This collected data flows between operational
systems (like sales and inventory systems) and analytical systems that can help sort through these
records for patterns. Company analysts can then come through the data to obtain a holistic view of
each customer and pinpoint areas where better services are needed. In CRM projects, following data
should be collected to run process engine:
Responses to campaigns.
Shippingand fulfillment dates.
Sales and purchase data.
Account information.
Web.
I. Social media for customer care in retail banking service
Outside of financial services, consumer salready are connecting with many of their preferred
brands via social media, and recent Forrester research shows that a sizable portion(42 percent of
online adults on social networking sites) are interested inengaging with their financial providers as
well. In fact, when asked the top three ways consumers would like to interact with their financial
services firms via social media, they listed the following (in descending order):
Alert me about upcoming promotionsand specials
Offer customer service
Let me read reviews from other customers
Offer financial advice
Present relevant financial offers to me
Reward me for recommending the brand
Post educational information about personal finance
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Let me post reviews, complaints, and questions
Access applications to improve my financial situation
Create a profile page, so I can become a fan
Clearly, now is the time for banks taget serious about social media, beyond declaring they
will throw budget. However, this is easier said than done. Social media is a vast, dynamic, and
confusing area of competence and poorly conceived initiatives squander valuable time, resources,
and leadership support if not executed effectively. This is likely to already have had a significant
impact on individual organizationss ability to embrace social media. This is compounded by the
fact that todays major banks operate across multiple lines of business, each with their own
leadership and business functions.Thus, before banks set out on any major social media initiatives,
they first must align social media with concrete business goals, think about social media across the
organization, take careful stock of industry specific challenges, and bear in mind that mastery of
social mediarequires long term commitment.
1. Enhancing the brand
Social media can play an important role in differentiating brands and making them more
relevant to consumers. Much of its power in this regard derives from the fact that in a consumers
mind, the most credible spokes personal company can have is a person like me. In fact, research
shows that the number of people who trust such a hypothetical person more than they trust brands
or organizations increases around the world each year.
2. Reducing costs
Social media can be a major contributor to banks ongoing cost reduction efforts, especially as
they pertain to service, sales, and marketing. For instance, banks can use social media as a low-cost
channel to distribute messages, host conversations, provide customer service, identify dissatisfied
customers, and increase the impact and reach of traditional media efforts. Consider Bank of
America, which was the first and largest bank in the world to use Twitter for customer service. The
bank uses a dedicated Twitter page on which a wide variety of real peopl with their actual photos
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which help customers solve their issues. User feedback reveals the sentiment among customers that
receiving help through this page is easier and faster than traditional customer service. In addition to
driving customer service costs down, the page creates brand impressions across consumers social
graphs, there by allowing other consumers to see the value of the channel for a variety of goals
3. Creating and improving innovation
Banks can use the channel to create better, more innovative products and services that reflect
real-time consumer demand. Chase, for example, created an online community of mass-affluent
consumers and tasked the group with designing a credit card purpose-built to their specific wants
and needs.
4. Increasing revenue
While the use of social media to drive revenue within banks is still in its infancy, results from
other industries further along the growth curve are encouraging. For example, has been able to use a
variety of coordinated social media efforts to boost its sales by 9 percentin a competitive,
commoditized industry with flat or declining revenues. As an example of a more specific and
successful effort, USAA, a financial services provider for members of the US armed forces, allows
site visitors to rate products like auto insurance or home equity lines of credit and add a written
review. In fact, USAA customer have added thousands of reviews to products, and consumers have
responded strongly. In the first year of adding product reviews to the site, USAA claims
incremental sales of over 15,000 products. This tactic clearly shows a direct impact on growth and
demonstrates the value of people like me.In both cases, using social media to unlock increased
revenue requires firms to focus on fundamentals. Providing service that customers want to talk
about and delivering products that are worth recommending. Once those conditions exist, the
chance of successfully using social media to drive revenue goes up exponentially.

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5. A uniquely challenging industry
Typical challenges include:
a) External communications are strictly governed by a host of rules and regulations that
limit what they can and cannot say.
b) Banks must observe strict rules regarding consumers personal information and data
security.
c) Sanctioned employees, whether from customer service, marketing, or another
functional group, must be knowledgeable about products, services, rules, and how to get things
done within the ban and they must be mature enough to make decisions and craft responses to
difficult questions. Plus, all this must be done within the strict legal and regulatory framework that
banks inhabit and occur within real time in order to be effective. For many banks, technology itself
is a major concern when it comes to implementing a social media strategy. Banks must identify and
implement the tools they will need to be active in social networks, from simple listening platforms
to sophisticated tools that enable the integration of social media with legacy CRM systems,
customer service tools and workflows, reporting and record keeping requirements, and overall
marketing analytics. Finally, some banks will need to overcome a lack of organizational structures
and in-house talent to derive full business value from social media. More specifically, many banks
may find they have to close talent gaps and bridge internal divisions between product-oriented
teams, all while gaining senior leadership support for a company-wide approach to social media.
This is no small task, especially given the fact that most senior leaders are not well-versed in social
media.
6. A path toward social media mastery
To begin, banks must strive to understand what their customers, prospects, and competitors are
discussing online, as well as the social technologies that seem most relevant. This includes
developing profiles of how various customer segments actually use social technology and
understanding the practical implications of those uses. For example, strategies for student loan
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customers may vary widely from those designed for private wealth management clients in areas of
execution, content, and technology. Banks also must assess their current social media capabilities
and activities: All too often there are separate, potentially conflicting social media initiatives under
way, as well as underutilized technology, insights, and experience. Banks must begin to consider
their collective presence versus that of individual lines of business. Consumers dont make those
distinctions, and neither should banks.
7. Crafting a social media strategy
All of this work will prepare banks for the successful development and implementation of a
comprehensive social media strategy.
8. Crafting the Vision
With an overarching framework in place, social media can be designed from the ground up,
versus as a collection of disparate tactics. It also can focus on specific segments and experiences, as
well as on the necessary internal to implement social media connections across channels. Indeed,
every good customer experience is carefully designed, and good social media experiences must
follow suit.
9. Defining and Measuring Success
A banks social media strategy must encompass well-defined metrics that reflect progress
toward the banks business goals (as defined in the vision). However, first and foremost, they must
align with the same type of metrics that drive the business today. For example, a social media
strategy focused on sales as an outcome should look at driving traffic from social media, converting
that traffic into leads, and successfully cross-selling and up-selling customers that are interacting
across social media channels. In effect, viewing the efforts through the same eyes that traditional
channels evaluate success.

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10. Governance
A social media strategy should include clear governance and effective organizational structures,
whether that means establishing a dedicated social media center of excellence or appointing social
media champions across the banks functional groups or product lines. Regardless of the specific
measures or structuresin place, the banks goal should be to support efficient, effective engagement
in social media with the right skills, staff, and controls. This structure must be simble, include
processes for iteration, and have senior
leadership included.
11. Technology
It is only when the vision, metrics, and organizational structures have been defined that the
bank should start thinking about technologies and the tactics they dictate. Banks should start with
basic learning and listening platforms that allow them to test the waters and identify areas of
potential engagement, and then progressively integrate that platform with existing CRM tools to
achieve a single view of customers. Banks must also consider what technologies are appropriate for
record keeping and adherence to policy.
12. Conclusion for social media
For banks considering their presence in social media, the time has come to get serious. Indeed,
because of the social media activities of leading brands outside of financial services, the growing
expectations of customers, and the already-existent level of chatter regarding banks across the open
Web, banks must get their strategies in motion now. Any well-executed business is necessarily built
upon robust strategy and leadership. With such a foundation in place, banks can find a successful
way to design social media into their business and reap its benefits. And while it is likely that many
banks will find themselves playing catch-up in this area, others will establish themselves as leaders.
Indeed, those banks that place big bets and dive into this powerful channel will long be recognized
for their innovation. Social media will make positive contributions to the customer experience and
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to the banks brand. In other words, social media will play a central role in their pursuit of high
performance.
II. Deploying customer services in the cloud technology
Cloud computing is one of the hottest technology and business topics today, and the market for
cloud services is expected to skyrocket in the next few years. At its most basic, cloud computing
can enable banks to reuse IT resources more efficientlywhether they are purchased up-front or
rented without any long-term commitment. However, cloud computing is much more than simply
renting servers and storage on-demand to reduce infrastructure cost as many believe. Furthermore,
its not simply a technology issue. In fact, the cloud offers a host of opportunities for banks to build
a more flexible, simble and customer-centric business model that can drive profitable growth and,
as a result, should be something that non - IT decision makers at banks understand and appreciate.
So what does the future of cloud computing look like for banks both in the near and long term?
The pundits tend to overestimate the impact of a technology and paradigm shift in the short term
and underestimate what happens in the long term. In this paper, we explore some forward-thinking
uses of cloud computing in the banking sector and discuss ways we believe innovative banks will be
leveraging the cloud for competitive advantage in the next five years.
What exactly is Cloud Computing?
Cloud computing as the dynamic provisioning of IT capabilities, whether hardware, software or
services, from a third party over the network. Although the term cloud computing is relatively
recent, elements of the concept, such as time sharing and virtual machines, have been around for
several decades. What makes cloud computing real now is the pervasiveness of the Internet and
Internet technologies, virtualization, hardware commoditization, standardization, and open source
software. Characteristics of cloud services include the following:
Little or no capital investment required
Variable pricing based on consumption; buyers pay per use
Rapid acquisition and deployment
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Lower ongoing operating costs
Programmable.
1. Finding cost savings in the Cloud
Indeed, one of the benefits of the cloud especially in the short term is lower costs. For example,
estimates its own IT organization could save up to 50 percent of its hosting costs annually by
transferring most of its applications to infrastructure clouds. The cloud also can substantially reduce
the time it takes for banks to roll out new applications. For example, SunTrust Bank rolled out its
Salesforce.com CRM application to 2,000 employees in just over two months instead of the six to
12 months a typical non-cloud CRM solution would take to implement. In addition, a number of
factors can play an important role in determining how much money a bank ultimately can save by
using the cloud:
Adopting common standards that make data sharing and movement easier.
Using standard, fit for purpose service levels as much as possible, according to
requirements of the specific application.
Applying security and data privacy restrictions appropriately and again standardizing
the number of different levels as much as possible.
Overcoming any departmental ownership issues so as much work can be moved to
the shared cloud as possible.
Taking care to maintain flexibility around procurement to avoid being locked into
specific supplier arrangements.
2. What opportunities does the Cloud create for banks beyond cost savings?
While saving money can be attractive, we believe there is much more to cloud computing than
cost reduction. We see four areas in which cloud computing can create significant opportunities for
banks to create new business models that are more customer centric and nimble and, consequently,
can help banks grow more quickly and more profitably.

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3. Building a Frictionless and Flexible Ecosystem
Cloud computings most compelling use case for banks likely will be in the way innovative
services can be created. The cloud gives banks an opportunity to break apart their own value chain
be it credit approval or back-office fulfillment. A bank can re-configure its business in-real-time by
dynamically sourcing from several service providers. For example, an e - invoicing company called
Tradeshift allows for dynamic invoices that pay themselves. The service constantly monitors
exchange rates and then automatically sends out an order to withdraw funds or to make a purchase
when the process is cheapest.
4. Consumer Cloud Computing
Banks also will be able to provide a more engaging and relevant customer experience that will
enable customers to more easily access and use banking products and services and, thus help attract
and retain customers. For example an application that consumers might find useful on a smartphone
and that could be supported by traditional financial services that are now made available by the
cloud is Split the Bill. This would enable consumers dining out together to easily divide the bill
among each other. At its heart, such functionality is still the same basic transaction enabled by just a
bit of clever logic that sits within the application, plus the required security. But its afforded by
banks willingness to accept messages in a certain way with a certain level of security around them
from a mobile device, and enables consumers to conduct their transaction completely differently
(and in a way that is convenient to them).
5. The Rise (again) of Analytics
Analytics has always been a differentiator for companies looking for ways to personalize
interactions with customers as well as their products or services. Yet many companies still lack
mature analytical capabilities, whether its because they lack appropriate tools or have difficulty
sharing, integrating and storing vast amounts of
data for analysis.
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Cloud computing has the potential to render such shortcomings obsolete. In fact, analytics is
really tailor made for the cloud for several reasons:
The cloud enables banks to store an enormous amount of data and put dormant data
to work.
It provides a cost-effective platform for developing analytics models, reports and
driving business intelligence.
It can enable a bank to work with historical as well real-time or transaction
information from a variety of sources.
It enables banks to churn through vast amounts of data and decipher patterns and
anomalies not only in the past, but also project into the future much more quickly, efficiently and
cost effectively
6. Having confidence in Cloud Computing
For good reason, security and data privacy remain prime concerns for cloud implementers in the
banking sector. The fear of having their data in the cloud is the single greatest hurdle that banking
leaders must overcome to build trust and gain the benefits from cloud computing Many banks today
have very specific challenges in areas of security and data privacy. Their existing IT estates consist
of highly fragmented landscapes of security and data privacy approaches and policies taken across
different functions or business lines. This in turn carries a lot of risk and cost. Using the move to
cloud computing to drive more consistency and automation in security and data privacy may
actually provide a catalyst for driving greater security and reduced costs. Banks need to adopt a
very practical approach to security and data privacy in the cloud. Most banks tag data with different
levels of sensitivity, from low level (published widely with no restrictions) to ultra secure (only
accessible by top decision makers). In the same way, banks will need to design their cloud to have
similar and appropriate security built in, through a managed combination of both private and public
clouds. So, for example, low level data and access may well be suitable to go onto a public cloud
infrastructure service with simple password access, whereas highly sensitive data may require
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dedicated servers housed in ultra secure data centers with strong authentication required for access.
There will be several different levels of security in between.
7. Making the Move to the Cloud
It will take time for banks to make the transition to cloud computing. Executives are still
grappling with its risks, possibilities, and the cost of writing off current IT investments. As well, the
thorny issue of integrating existing legacy applications that will remain in house with those sent to
the cloud is one that needs to be addressed. Still, a transition to a hybrid of cloud and conventional
computing is underway. The capabilities and potential savings from clouds are too great to ignore.
In addition, software developers and venture capitalists will be drawn to this new market. The low
development cost, short development cycle, and quick return on cloud services are irresistible. This
means future IT advances and innovations are much more likely to be based on clouds than
conventional computing. The critical issue isnt whether cloud computing will become a
fundamental technology in the next decade. It is how successfully banks will profit from the
capabilities it offers.
8. A journey not a destination
Despite banking executives current reluctance to embrace the cloud, we believe cloud
computing offers banks enormous potential to not only substantially reduce the amount of money
they spend running IT, but also to dramatically improve how they attract and retain customers and
expand the markets they serve. Security is a major and legitimate concern. However, it is clear that
cloud providers are investing in capabilities that will allow them to adhere to higher standards of
security and data protection and in the future those standards will likely meet or exceed those held
by internal operations. The important thing for bank executives to remember is that cloud
computing is a journey, not a destination, and that it alone does not render sustainable competitive
advantage. Like any new technology, early adopters do gain some advantage over those taking a
wait and see attitude. But that initial advantage is fleeting, lasting only as long as the rest of the
pack catches up. Banks
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that generate lasting advantage are those that capitalize on the clouds lower costs, unlimited
capacity and flexibility to continually develop innovative products, services and channels.
III. Using mobile technology to enhance customer service
As mobile device technology evolves from being device-driven to consumer-driven, we are
witnessing a corresponding shift in the consumers outlook towards the usage of mobile devices. In
the earlier days, the consumer would feel overawed by the impact of technology and could be easily
satisfied with the simple promise of convenience. Todays consumer, exposed to unprecedented
levels of information and awareness, is becoming more and more demanding by the day. The
average mobile device user is not swayed by the bundle of services being offered on his device; he
now expects service providers to push the envelope continuously, leading to the age of consumer-
led innovation. The evolution of mobile device technology and the consumers expectations has
had a significant impact on the banking industry. With non-banking players venturing into the realm
of mobile payments, wallets etc., the consumer is spoilt for choices. However, with the mobile
payments industry still in a state of flux, ambiguities remain in terms of regulations, cross-border
transactions, and most significantly, ownership of the customer. To survive the onslaught of non-
traditional competitors, banks need to ramp up their capabilities to service the connected and aware
consumer. This whitepaper examines the current trends in the mobile banking sector, placing
emphasison the disruptive innovations that are altering the global banking landscape
1. Mobile Technology for Increased Productivity & Profitability
The demand for access to business information and applications through mobile technologies
such as the Apple iPhone and iPad, devices running Google Android and Windows 7 Mobile or
using RIM Blackberry is surging as consumer preferences and behavior spill over into the business
workforce. The massive growth of adoption of these technologies around the world has many
business managers wondering how to effectively position their firms to benefit from the trend. The
drive for mobility is part of the business technology agenda for most companies
today. Obviously, however, in a business rather than personal context, more types and complexity
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of information are needed, ranging from access to documents and presentations, to status on
initiatives and processes, and for specific application needs to perform various business intelligence
functions.
Against this fast-moving mobile background it is clear that just having mobile access to e-mail
is profoundly insufficient for increasing productivity and producing better-informed employees.
The integration of mobile devices such as laptops, tablet computers, and smartphones, along with
their various applications and software, make it easier than ever for workers to collaborate and
businesses to communicate with staff, customers, and vendors.
Mobile technology allows people to use company data and resources without being tied to a
single location. Whether your staff are travelling to meetings, out on sales calls, working from a
client's site or from home anywhere on the globe, mobile devices can help them keep in touch, be
productive, and make use of company resources.
Mobile IT devices can also change the way your company does business - new technologies
lead to new ways of working, and new products and services that can be offered to your customers.
They can make your team more efficient, more creative, and more valuable to your clients.
Every day businesses are learning more about the ways mobile technology can be used to
increase their productivity and lead to increased profitability. Below are some of the key areas in
which mobile technology can be useful:
2. Networking and Communication
Mobile technology allows companies to have an unprecedented level of connectivity between
employees, vendors, or customers. Workers can download applications on their mobile devices that
allow them to connect with others through social media such as LinkedIn, Facebook and Twitter; or
the firm can use native or web-based applications to enable direct communication with these
audiences in a variety of ways.
Real-time communication with the office can be important in delivering business benefits,
such as efficient use of staff time, improved customer service, and a greater range of products and
services delivered. Examples might include:
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Making presentations to customers, and being able to download product information to their
network during the visit
Quotations and interactive order processing
Checking stock levels via the office network
Interacting with colleagues while travelling - sending and receiving emails, collaborating on
responses to tenders, delivering trip reports in a timely manner
3. Development
Because of the interactive nature of mobile technology, sharing information through this
medium allows businesses to get immediate feedback on products and services from customers.
This speed and accessibility have led to faster research and development for companies, an
important part of staying ahead of the competition. It has also led to product upgrades moving at a
faster rate. In addition, customers and clients feel as if they have a more direct role in a company's
development.
4. Marketing
Mobile technology has introduced a new dimension into advertising and marketing for
businesses worldwide. Potential customers now see business advertisements on mobile phones thru
a wide variety of mobile marketing technologies including: SMS (text) messaging, mobile websites,
mobile applications, banner ads.
These advertisements can be customized to reach a more specific, targeted audience thanks to
software that "reads" the website or information individuals are seeking on their mobile device and
displaying advertisements that relate to that information. Marketing is made more effective by this
customization, and because most potential customers always have a mobile device handy, their
exposure to advertisements is increased.


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5. Commerce
Mobile ticketing: Tickets can be booked and cancelled mobile phones using a variety
of technologies. Users are then able to use their tickets immediately, by presenting their phones at
the venue.
Mobile vouchers, coupons and loyalty cards: Mobile technology can also be used for
the distribution of vouchers, coupons, and loyalty cards. These items are represented by a virtual
token that is sent to the mobile phone. A customer presenting a mobile phone with one of these
tokens at the point of sale receives the same benefits as if they had the traditional token.
Content purchase and delivery
Mobile content purchase and delivery mainly consists of the sale of ring-tones, wallpapers, and
games for mobile phones, and is evolving into the purchase and delivery of full-length music tracks,
video, books and more.
Information services
A wide variety of information services can be delivered to mobile phone users in much the same
way as it is delivered to PCs. These services include:
International and national News / sports
Stock quotes
Financial records
Mobile banking
Banks and other financial institutions use mobile commerce to allow their customers to access
account information and make transactions, such as:
Check bank balances
Process bill payments
Transfer funds between accounts
Mobile brokerage
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Stock market services allow the subscriber to react to market developments in a timely
fashion and irrespective of their physical location.
Mobile Purchase
Merchants accept orders from customers electronically via mobile device thru mobile
websites and/or apps. In some cases, catalogs delivered via mobile.
6. Benefits
Mobile technology can improve the services you offer your customers. For example, when
meeting with customers you can access your firm customer relationship management system - over
the internet - allowing you to update customer details while away from the office. Alternatively,
you can enable customers to pay for services or goods without having to write a check or swipe a
credit or use cash. More powerful solutions can link you directly into the office network while
working off-site to access such resources as your database or accounting systems. For example, you
could:
Set up a new customer's account
Check prices and stock availability
Place an order online
Mobile technology leads to great flexibility in working - for example, enabling home
working, or working while travelling. The growth of cloud computing has also impacted positively
on the use of mobile devices, supporting more flexible working practices by providing services over
the internet.



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Conclusion
The benefits that CRM systems can bring to an organisation are many, and can be realised by
sales, marketing, operational and finance teams as well as, and perhaps most importantly, by
customers. The positive impact that CRM can have upon the customer base is illustrated by the
finding that over half of the respondents stated that their CRM has led to improved customer service
and retention. In terms of operational efficiencies, a large proportion of respondents (59%) stated
that CRM has reduced duplication and time wasting across multiple departments. CRM software
also has a profound impact on business decision making. Over two thirds of respondents stated that
it has led to better quality information being available for strategic management decision
making.CRM vendors are continuously innovating their products, making them available on new
platforms and also adding new features to meet the specific needs of different vertical sectors across
the range of company sizes. The ability to make CRM software available on mobile devices was the
improvement to their CRM that most respondents said they would like to see, while renting their
CRM services on demand from a cloud provider was another popular option, and one that provides
an answer to the situation that many firms find themselves in, with overstretched staff and limited
capital budgets.
A CRM system is a major purchase and choosing a vendor and product set can be a aunting
task. Some vendors appear to offer solutions more suited to enterprise organisations, and some
CRM solutions have failed to keep pace with the evolving market. It is important that organisations
settle on a system that will not only meet their current needs and budget, but which will be flexible
enough to scale with them and to take full advantage of emerging technologies.




21

References
1. Banking on the cloud. Author Daniel Benton and Walid Negm.
2. Mobile banking Technology Options. On the website.
3. Social Banking. Copyright 2011 Accenture.
4. Use of CRM tools in E-Banking/ M-Banking. Sonali Mote, Vikram Patalbansi.
5. https://www.hlb.com.my/vn/