Six years after Russia was rocked by a financial crisis, the country’s banking sector is now going through a period of renewal. By bringing the latest technologies on board, the market could be thrust into a major position as a user of the most advanced Customer Relationship Management (CRM) tools. But a mountain must be climbed before the country’s banks are in a position to adopt the technology seriously.
Profit lies at the heart of CRM, and this can only be achieved if a CRM system is established that understands each bank’s business model. By using CRM to identify customers’ wants, needs and habits, banks are better able to retain customers, promote spending, and encourage the most cost-effective use of banking services.
