Cq Personal Bank Business Customer Relationship Management Problems And Countermeasures

Services for personal banking have been the core of competition in all commercial banks; banks are trying hard to create more innovative products and marketing strategies for personal banking services. Since the entry of foreign banks into Chinese market, valuable high-end customer resources have become the focus of competition. With the banking industry's full opening up by the end of 2006, domestic banks are threatened by competition. For domestic banks, their competitive advantage is the extensive resources of individual customers, while outstanding techniques personal business service customer service-centric approach are strength of foreign banks. In current market, developing a great personal banking services system, expanding client base and retaining quality customers are the biggest challenges which domestic commercial banks are facing. Therefore, creating a Customer Relationship Management System to satisfy better service the needs of individual customers has become the core of domestic bank's competition strategy.CQ Bank as an urban commercial bank has repositioned its mission statement as a retail-oriented bank recently. Hence, CQ banks will focus on individual business development in the next few years, while its target customer groups have switched from business clients to individual customers. During its restructuring, CQ Bank must facing'not only competition for client resources between other banks, but also challenges to reform a service model that will work more efficiently, better fulfill customer needs and strengthen customer relations.Based on extensive research, this paper first illustrated Customer Relationship Management theories and the current status of implementation of Customer Relationship Management in domestic and foreign banks. Second, the paper also points out the significant value of personal banking services and importance of developing Customer Relationship Management, after doing SWOT analysis of CQ Bank's personal banking operations system. Third, the paper listed current strategies that CQ Bank is using on personal management system. And extensively explains all problems that might exist in the following area: sales; service channel; product development; customer information analysis; organizational structure; business processes; information management and human resource management. Last, based on this analysis, the paper lists possible solutions for each problem and proposes a Customer Relationship Management system that will fit CQ Bank's restructuring much better.In this paper, most of the theories are based on books and publications from China and foreign countries. More importantly, most of the in-depth analyses are through extensive market researches and case studies. I have proposed many strategies which can efficiently improve current CRM condition and level; consequently create more competitive advantages over other banks. Such strategies will also service CQ Bank much better through restructuring.