Contemporary Issues and Futuristic Trends in Retail Banking Management

n the Arena of retail banking scenario, the customers’ expectations are boundless and they look for many factors like appropriateness and accuracy of accounting and reporting norms, speed of service, returns or yield on deposits, cost of processing, facilities, ambience of the environment, procedures and case of process, security aspects and relationship of the people. For fulfilling the ever-growing expectations of the customers, the role of Electronic Customer Relationship Management (ECRM) becomes very important. E-CRM, if implemented and integrated correctly, can help significantly in improving customer satisfaction levels. E-CRM helps retail banks to analyze and measure customer transaction patterns and behavior. This can help a lot in improving service levels and finding new business opportunities. In the process of experiencing the E-CRM, the retail banking customers are exposed to the opportunities and challenges. The researcher has taken an attempt to identify the merits and demerits of customer relationship management, which are faced  by the retail banking customers in Madurai. The research findings reveal that the cordial relationship is ranked as top most opportunity extended by E-CRM to the customers. Similarly, the top most challenge is identified as the banks’ strictness in adhering rules. Hence the retail bankers can be aware of the perceptions of their customers. The retail bankers have to take efforts to optimize the merits and demerits of customer relationship management to their retail banking customers.