Customer relationship management (CRM) are three of the most provocative words in the retail banking lexicon. Since the term was coined in the late 1990s, there have been countless claims made as to how the proper use of client and customer data can transform the uneasy relationship between a bank and its retail customers and act as a potent fertilizer for cross-selling.
These claims have been difficult to prove and the ambitious plans for promoting banking brands and encouraging greater customer activity have often been based on the suspect supposition that customers actually like their bank and see it as a retail outlet rather than the place that looks after their money.
