WIT Press


A Study Of Customer Relationship Management In Financial Services On The Web

Price

Free (open access)

Paper DOI

10.2495/MIS040181

Volume

32

Pages

10

Published

2004

Size

297 kb

Author(s)

J. Lawler, D. Anderson & E. Rosenberg

Abstract

In the current period of constrained economic conditions, this study initiates an analysis of customer relationship management on the Web sites of financial service businesses. Customer relationship management is a critical differential that effects competitive edge for businesses focused on the affluent customer market. Though investment in marketing, sales and service innovation is limited under the existing financial and global political conditions, the analysis of the study on large financial businesses in the United States indicates that the businesses enable higher commerce, content and context, but lower and generally inadequate communication, community, connection and customization design on their Web sites. The analysis contributes an important insight into the competitive dynamics of customer relationship management for Web empowered financial service businesses striving to service the demanding affluent market. This study furnishes an expanded framework to research customer relationship management of financial service businesses competing in the paradigm of the Web. Keywords: customer relationship management (CRM), customer service, e-banking, financial services, wealth management. 1 Introduction The World Wide Web is an important consideration in the growth of businesses. From its inception, the Web has initiated unprecedented change in effecting fast and innovative channels of business with customers. From customer-centric channels to customer-focused processes, businesses have employed innovation in customer relationship management (CRM) to enhance their business models

Keywords

customer relationship management (CRM), customer service, e-banking, financial services, wealth management.