Project On Customer

Project On Customer
Project Title: Customer-centric practices at SBI
Submitted to: Prof. Sachin Sinha
Submitted by:
SAMARJIT CHATTERJEE FT-11-1036
IILM Graduate School of Management
Customer-centric practices at State Bank of India

What is bank? A bank is a financial institution licensed by a government. Its primary activities include borrowing and lending money. For example: - Banks are important players in financial markets and offer financial services such as investment funds.
SBI in India:
Banking in India originated in the last decades of the 18th century. The oldest bank in existence in India is the State Bank of India, a government-owned bank that traces its origins back to June 1806 and that is the largest commercial bank in the country. Central banking is the responsibility of the Reserve Bank of India, which in 1935 formally took over these responsibilities from the then Imperial Bank of India, relegating it to commercial banking functions. By Entering into your premises, the customer is giving an opportunity to serve him, but you are not doing any favor by serving him. - Mahatma Gandhi.
SBI is a leading public sector bank in INDIA with large customer base and excellent infrastructure facility. It caters the prospective customers with wide range of products and banking facility. It is the only bank in with various departments and functions and large work force. It has recently under taken the re-engineering process to provide better facilities for the customers and it has adopted various technologies to satisfy the customers to the fullest. It has its prominence from past two decades.
In customer centric practices CRM is one of the main parts: Customer relationship management (CRM) is a business strategy to acquire and manage the most valuable customer relationships. CRM requires a customer-centric business philosophy and culture to support effective marketing, sales and service processes. CRM applications can enable effective customer relationship management, provided that an enterprise has the right leadership, strategy and culture.
CRM in Bank: The idea of CRM is that it helps businesses use technology and human
resources gain insight into the behavior of customers and the value of those customers. If it works as hoped, a business can: provide better customer service, make call centers more efficient, cross sell products more effectively, help sales staff close deals faster, simplify marketing and sales processes, discover new customers, and increase customer revenues. The organization must look into all of the different ways information about customers comes into a business, where and how this data is stored and how it is currently used.
Objectives of CRM:
1) Responses to campaigns, 2) Shipping and fulfillment dates, 3) Sales and purchase data, 4) Account information, 5) Web registration data, 6) Service and support records, 7) Demographic data, 8) Web sales data.
Purpose of CRM:
1) Provide product information, product use information, and technical assistance on websites that are accessible 24 hours a day, 7 days a week. 2) Identify how each individual customer defines quality, and then design a service strategy for each customer based on these individual requirements and expectations. 3) Provide a fast mechanism for correcting service deficiencies (correct the problem before other customers experience the same dissatisfaction). 4) Use internet cookies to track customer interests and personalize product offerings accordingly. 5) Provide a fast mechanism for managing and scheduling maintenance, repair, and ongoing support (improve efficiency and effectiveness).
Data Warehouse & Data Mining:
The Relational Marketing process is supported by a computing infrastructure where many software packages are integrated with the bank's information system.
The marketing campaign process and the software supporting it.
In customer-centric practices of SBI, there are many others topics; those are SBI cards, brand, customer feedback & how life makes simple to customer? etc.
SBI Cards:
SBI Cards & Payments Services Pvt. Ltd., or SBICPSL, is a payment business in India. It is incorporated as a joint venture between the State Bank of India, India's largest bank and GE Capital. They are headquartered in Gurgaon, Haryana/ Delhi NCR and have branches in 50 cities across India. As of January 2012, SBI Cards had 2.171 million credit cards.
Business model and application process

SBI Cards focuses on a customer-centric business model. It is the only company in India to offer 14 different modes of payment options to customers and any of the first few companies to have migrated to the Europe, MasterCard and Visa (EMV) platform. SBI Cards offer comprehensive real-time SMS alerts system with more than 60 types of useful and critical alerts for cardholders. Their website allows cardholders to discover the power of convenience in simple management of their SBI Card account at all times, as well as offering grievance redressed. SBI Cards is also highly active on social media, thus enabling a more modern approach to customer service. The company also launched Click2Card, an online application service. Click2Card allows customers to enter their details on a specially designed secure web interface. Once the customer's details are submitted, the interactive platform intuitively advises applicants on the credit card best suited to their lifestyle. After selecting the credit card from the choices offered, customers need to apply online through a simple and compact credit card application form. The customer's application for a credit card is approved, declined or referred on the basis of the credit history with the credit bureau and the SBI Card risk and policy norms. The customer has a real-time experience, and is updated on the status of the request instantly. For all approved or referred applications, the system sends back a tentative approval and the assigned credit limit. SBI brand cards:
SBI Cards has solutions for every need that allows cardholders to maximize the value with benefits and services provided by their SBI Card to make their life simple. SBI Cards offers a number of cards under each of the following categories:

Premium Cards Classic Cards Travel & Shopping Cards Exclusive Cards Corporate Cards Signature card Gold more card Advantage plus card Railways card etc.
A Leading Issuer of Credit Cards in India:

A leading player in the Indian credit card market, SBI Cards is a joint venture between State Bank of India, the country's oldest and largest bank, and GE Capital to offer Indian consumers extensive access to a wide range of world-class, value-added payment products and services. The partnership is operated through 2 joint-venture companies - SBI Cards & Payment Services Pvt. Ltd., which focuses on the marketing and distribution of SBI Cards and GE Capital Business Processes Management Services Pvt. Ltd., which handles the technology and processing needs of SBI Cards. With a current customer base of over 2.1 million, SBI Cards operates through a footprint of 22 cities in India .
Brand Promise - Make Life Simple:

The SBI Cards Brand is based on the value proposition of 'Make Life Simple' - the core promise of our brand. The proposition stands testimony to our continuous efforts of simplifying the lives of customers, employees and other important stakeholders which impact business in multiple ways. Innovative products and services basket along with responsible corporate citizenship practices form the framework of delivering on this promise, again and again.
Making Life Simple for Customers:

Customer centricity is core to our scale of operations. Many pro-customer initiatives support this belief. In fact, SBI Cards is among the players with the lowest customer complaints received from the Banking Ombudsman, bearing testimony to our continuous efforts to 'Make Life Simple' for our customers.
Project Parivartan: State Bank of India's Internal Communication Initiative

The top management realized that to achieve the transformation they sought, getting the grassroots level employees on board was extremely important. So a massive internal communication initiative called Parivartan (which means transformation/change) was launched. The initiative was aimed at obtaining the support and acceptance of employees for the change initiatives undertaken by the bank, and explaining to them why change was necessary. The project also sought to bring about a change in the attitude and approach of the employees and to help them develop a more customer-centric approach. According to SBI, the program succeeded in achieving its objective. Industry observers too appreciated the initiative and said that Bhatt(chairman) had succeeded in changing the employees' approach to work, which in turn, had led to the bank performing well and maintaining its market leadership position in the Indian banking sector.
Issues:
1) Understand the issues and challenges in change management. 2) Understand the issues and challenges in communicating a change initiative. 3) Study the Parivartan internal communication initiative and understand how SBI tried to change the attitude and mindset of its grassroots level employees. 4) Appreciate the importance of HR in an organizational transformation initiative.

Project On Customer

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Project On Customer

Project Title: Customer-centric practices at SBI

Submitted to: Prof. Sachin Sinha

IILM Graduate School of Management

Customer-centric practices at State Bank of India

Data Warehouse & Data Mining:

The marketing campaign process and the software supporting it.

Business model and application process

A Leading Issuer of Credit Cards in India:

Brand Promise - Make Life Simple:

Making Life Simple for Customers:

Project Parivartan: State Bank of India's Internal Communication Initiative

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