The use of CRM in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by the banks in todays competitive milieu. The article explains that CRM in banking has been done with regard to: Targeting customers, sales, consistent interfacing with customers, etc. This article focuses on the CRM initiatives taken by ICICI Bank to manage its customers. ICICI Bank has more than 13 million customers. The bank has over 550 branches, a network of 2025 ATMs, multiple call centers, Internet banking, and mobile banking.

The use of CRM in banking has gained importance with the aggressive strategies for customer acquisition and retention being employed by the banks in today's competitive milieu. This has resulted in the adoption of various CRM initiatives by these banks to enable them to achieve their objectives.

CRM has been deployed in retail banking. Retail banking refers to mass-market banking where individual customers typically use banks for services such as savings and current accounts, mortgages, loans (eg: personal, housing, auto, and educational), debit cards, credit cards, depository services, fixed deposits, investment advisory services (for high-net-worth individuals), etc. The challenges in managing customer relations in retail banking are due to the multiple products being offered and the diverse channels being used for distribution of the products. Customer expectations from banks can be summed up as: Anytime anywhere service, personalized offers, and lower payouts.

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