architecture of the crm used by the bank

8/6/2019 Architecture of the CRM Used by the Bank

1/6

Architecture of the CRM used by the bank.

The Customer relationship management architecture can be broken down into three categories, and

these are operational, collaborative, and analytical. Each plays an important role in Customer relationship

management, and a company that wants to success must understand the importance of using these three

components successfully.

OPERATIONS:-

The Customer Relationship Management should include various touch points for its customers to operate

the accounts. The software should have an option were as in i t automatically keeps the data of all

customers when they operate the various touch points :-

Automated Tailor Machine

Mobile Banking

Internet Banking

Personalized Banking

These are the various touch points

y Automated Teller Machine - is a computerized telecommunications device that provides

the clients of a financial institution with access to financial transactions in a public space without

the need for a cashier, human clerk or bank teller. ATM, customers can access their

bank accounts in order to make cash withdrawals, credit card cash advances, and check their

account balances.

y Mobile Banking - is a term used for performing balance checks, account transactions, payments,

credit applications and other banking transactions through a mobile device such as a mobile

phone.

y Internet Banking - provide online banking facility to their customers as an added advantage. Thebank for conducting their banking transactions. Internet banking enables people to carry out most

of their banking transactions using a safe website, which is operated by their respective banks. It

provides many features and functions to their customers, and enables them to view their account

balance, transfer money from their account to another account (be it in their respective bank or

any other bank), view their account summary.

y Personalized Banking - extremely strong, flexible, accommodating and efficient banking

relationships. bankers will personally get involved and talk directly to sellers, their brokers, their

bankers and lawyers to ensure smooth closing and payment process.


2/6

Relationship with the customers

The bank should have relationship with all its customers. It should treat all his customers equal . the

banks should provide more services to those customers who have more value and the transactions are

more.

The High Networth Investors should get a personal banker who will look after their funds and not let it geteroded. The services should be premium and should be f irst.

The people who have more account balance then the normal customers should get a special counter and

a person appointed for them so that they do not need to stand in a line and wait for their turn to come.

Customer Contact Center

The contact center typically includes one or more online call centers but may include other types of

customer contact as well, including e-mail newsletters, postal mail catalogs, Web site inquiries and chats,

and the collection of information from customers. A contact center would typically be provided with special

software that would allow contact information to be routed to appropriate people, contacts to be tracked,

and data to be gathered.

The customer contact center helps the customers to solve their queries as well as their problems. The

contact center will help provide various services ;-

y A/c Balance

y A/c Clearance

y Demat Holding

y Cerdit Cards Issues

y Mutual Fund NAV of the particular Mutual Fund managed by the bank

y Loan Inquiry

y Bank Charges.


3/6

To design the CRM for the bank we need to take help of the Software Development Life Cycle .System Development Life Cycle

The Systems Development Life Cycle (SDLC) is a conceptual model used in project management thatdescribes the stages involved in an information system development project from an initial

feasibility study through maintenance of the completed application. Documentation is crucial is usuallydone in parallel with the development process. Some methods work better for specific types of projects,but in the final product , the most important factor for the success of a project may be how closelyparticular plan was followed.

The image below is the SDLC method and it describes the various phases involved in development.

Briefly on different Phases:

Feasibility

The feasibility study is used to determine if the project should get the go-ahead. If the project is toproceed, the feasibility study will produce a project plan and budget estimates for the future stages ofdevelopment.

Requirement Analysis and Design

Analysis gathers the requirements for the system. This stage includes a detailed study of the businessneeds of the organization. Options for changing the business process may be considered. Designfocuses on high level design like, what programs are needed and how are they going to interact, low-leveldesign (how the individual programs are going to work), interface design (what are the interfaces going tolook like) and data design (what data will be required). During these phases, the software's overallstructure is defined. Analysis and Design are very crucial in the whole development cycle. Any glitch inthe design phase could be very expensive to solve in the later stage of the software development. Muchcare is taken during this phase. The logical system of the product is developed in this phase.


4/6

Implementation

In this phase the designs are translated into code. Computer programs are written using a conventionalprogramming language or an application generator. Programming tools like Compilers, Interpreters, andDebuggers are used to generate the code. Different high level programming languages like C, C++,Pascal, Java are used for coding. With respect to the type of application, the right programming language

is chosen.

Testing

In this phase the system is tested. Normally programs are written as a series of individual modules, thissubject to separate and detailed test. The system is then tested as a whole. The separate modules arebrought together and tested as a complete system. The system is tested to ensure that interfacesbetween modules work (integration testing), the system works on the intended platform and with theexpected volume of data (volume testing) and that the system does what the user requires(acceptance/beta testing).

Maintenance

Inevitably the system will need maintenance. Software will definitely undergo change once it is deliveredto the customer. There are many reasons for the change. Change could happen because of someunexpected input values into the system. In addition, the changes in the system could directly affect thesoftware operations. The software should be developed to accommodate changes that could happenduring the post implementation period.


5/6

In the Design Stage the Developers will sit down and in reality work on the software that they have beenplanning to create. Since the requirements of the software has already been laid out. All the inputs fromprevious stages of SDLC will now be implemented.

This Stage involves the following steps :

y Interface Design.

In this stage, developers have to build the commands and tasks of the system. In thisenvironment, they should always follow what was set before and use that as a goal.

The interface is very important as this will dictate how the software will interact with

user. The interface should be at least familiar as it will follow the initial workflow of theprograms in other departments. The interface will be universal and everyone has tounderstand the interface fast. The easier the interface could be understood, the fasterthe training.


6/6

y Data Storage Design.

The software should have available information to be processed for which there has to be asource data. It is also important for software developers in terms of data storage to concentrate inthe design of the data capturing software. It is important for most user that the software ispleasing to the eye. Developers should have an input control to prevent bad data to enter theSystem. If bad dates will be accepted, it could easily proliferate and eventually crush the systemdown. With correct data storage design and internal control of information, developers canprevent the crash of the software.

y Program Design.Program Design will dictate on what type of output is expected. The software will b interactiveto other programs is through its output. Developers should determine whether the output of theirsoftware is connected to software for another process.

Analytical CRM

Customer relationship management analytics comprises all programming that analyzes data about banks

customers and presents it so that better and quicker business decisions can be made. CRM analytics can

provide customer segmentation groupings , profitability analysis. Analytical customer relationship

management may be defined as a decision support system that is targeted to helping senior executives,

marketing, sales and customer support personnel to better understand and capitalize upon their customer

needs, the company's interactions with the customer, and the customer buying cycle.

architecture of the crm used by the bank

Documents