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Customer Relationship Management Functions: A Survey of Greek Bank Customer Satisfaction Perceptions

John Mylonakis

The IUP Journal of Bank Management, 2009, vol. VIII, issue 2, 7-31

Abstract: In a competitive and globalized banking era, customers constitute one of the most important and valuable assets of a bank. Banks’ technological developments are interpreted as the intensive use of information technology and facilitating massive collection of information and their direct and integral processing. The aim of this paper is to present Customer Relationship Management (CRM) functions, as applied in the banking sector, examined from a bank marketing point of view. The study was carried out in 2007 on a convenience sample of 300 respondents through the distribution of structured questionnaires to bank customers within the area of Athens, Greece. The main finding of the study reveals that a majority of customers are satisfied with their bank. Most bank customers believe that the use of new technologies helps their communication with banks. They trust the bank employees for obtaining information on the existing banking products and services, while for new programs, they prefer to choose alternative channels, such as the Internet, phone services, brochures and press releases. The Greek banking market has adopted CRM solutions in recent years, as banks have realized the need to maintain their customer base and to better use their resources in order to promote their products and services. In general, there is a positive attitude towards CRM.

Date: 2009
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Handle: RePEc:icf:icfjbm:v:8:y:2009:i:2:p:7-31