e-Commerce Roadmap for Success in the Banking Industry: A Customer Relationship Management Approach

Abstract

Many new technologies, especially the Internet, have been changing the ways of doing business. The banking industry is highly information-intensive, and thus makes it important to recognize new developments in strategy to create value through the e-Commerce (EC) on customer relationship management (CRM). Four profitable EC/CRM business strategies, including contact channel management, customer information management, enterprise-wide strategy, and information technology support are puzzled out through literature review. It is also to review some best practices and events, instead of experience survey, in the banking industry to find out the critical activities for every strategy. Hopefully, a roadmap for success to customer-effective EC strategy for the banking industry is provided.