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Study Of Personal Financial Services, Customer Relationship Management Strategy

Posted on:2003-05-28Degree:MasterType:Thesis
Country:ChinaCandidate:H J ChenFull Text:PDF
GTID:2206360095952836Subject:Political economy
Abstract/Summary:PDF Full Text Request
Personal financial services (PFS) have become the focus of commercial banks. With the entrance of foreign banks into domestic market, good customers will undoubtedly attract attentions from both domestic and foreign banks. Whereas commercial banks of China boast of a large customer asset, foreign banks are famous for their quality services and advanced technologies in PFS. The question of how to enhance financial services in order to keep good customers and utilize customer asset needs an urgent answer. Customer relationship management (CRM) will definitely be a great help if employed. This paper makes a thorough study into the strategies of CRM in financial services and hopes to provide some useful advice on the development of PFS in commercial banks of China.The paper consists of four chapters.Chapter one is the introduction. It gives a definition of PFS and demonstrates the necessity to developing PFS and the social and economic background of developing PFS. Then it puts forth the importance of implementing CRM in PFS.Chapter two is the most important part in this paper. It discusses the customer development strategy of commercial banks. It suggests that banks integrate customer lifetime value (CLV) and activity-based management (ABM) in the segmentation of individual customers so as to maximize customer value.Chapter three deals with attrition management. It gives some ideas on how to manage customer attrition in order to maximize customer lifetime value.Chapter four discusses the application of CRM software in financial services. It also discusses the prospect of CRM in financial services.
Keywords/Search Tags:Personal Financial Services (PFS), Customer Relationship Management (CRM), Customer Lifetime Value (CLV), Activity-based Management (ABM), Activity-based Costing (ABC)
PDF Full Text Request
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