As a side benefit, CRM systems help the bank present a consistent view of the customer relationship across all delivery channels. CRM is costly. It generally requires new database management systems, integration with legacy systems, analysis and decision support systems, campaign management systems, new messaging and routing systems, and sales tracking systems. When done right, CRM is an enterprise-wide endeavor. It requires the melding of employee behaviors with information technologies, for the benefit of the customer.
Technology makes it possible, but process and people make it real.
In today s CRM environment, there is a danger we see with multiple vendors offering systems built on relational database technology and touting theirs as the one customer relationship management tool you need. Because most new banking applications are being developed with a database that aggregates customer data, a data mart, these vendors are jumping on the CRM bandwagon. The problem will come when you have implemented multiple CRM data marts to handle various applications, and then find you cannot reconcile the data in each database. It will be better to implement a single CRM system first and then hang multiple applications off the core database. Back office customer data aggregation and analysis.