THE IMPORTANCE OF IMPLEMENTING CRM CONCEPT IN THE BANKING SECTOR

• https://scindeks.ceon.rs/article.aspx?artid=1451-43541501086M

Summary: In the past banks traditionally operated at the predominantly stable market. With the outbreak of the economic crisis and the increased number of competitors the situation has drastically changed. Today banks are facing aggressive competition, which requires additional efforts in order to ensure survival at the competitive and unpredictable market. Customers are the essence and basis of the banking sector’s development. Banks cannot function without customers. This is why Customer Relationship Management (CRM) is of strategic importance for the banking sector. CRM helps banks to achieve profit by establishing long-term relations.