Customer Relationship Management System as a Tool for Improving Bank's Competitiveness

The activities of any bank are inextricably connected with competition, whereas bank's competitiveness is determined by its competitive advantages. Formation of them is possible through active involvement of marketing techniques and modern technologies by a bank. CRM systems are one of the prospective tools to improve competitiveness by gaining competitive advantages, the nature of which can vary depending on the type of a CRM system and situation of its introduction. The introduction and use of CRM systems often encounters some problems that significantly diminish positive effect of utilizing them. These problems, their number and easiness of their elimination are closely related to the conditions under which a CRM system is introduced. The main factor behind the success of the CRM system is the presence or absence of a CRM strategy in a bank.