A Study on the Effectiveness of Customer Relationship Management (CRM) in Saudi Arabian Banks
Author: Dr Eltayeb M. Suliman, Dr. Syed Mohammad Faisal*, Dr. Ahmad Khalid Khan
Assistant Professor, Department of Management, Applied College, Jazan University, Saudi Arabia.
Published Date: —
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Abstract:
Objective: The objective of this study is to examine the effectiveness of Customer Relationship Management (CRM) through its functional requirement document (FRD) and functional design document (FDD) in various commercial banks in Saudi Arabia. Critical strategies followed to retain bank customers in banks, knowing their support units and risk management are also probed into.
Research Methodology: To get a better knowledge of the Saudi banking sector, this empirical study combines secondary data with qualitative data gathered via semi-structured interviews with Saudi bankers of big banks (Bank A, Bank B, and Bank C), mid-sized banks (Bank D), and small banks (Bank E). In addition to secondary data, such as flyers, articles, and studies carried out by Saudi banks and the Saudi Arabian Monetary Authority (SAMA), qualitative data have also been collected. The goal of depending on these two data collection methods is to establish the investigation's degree of validity and reliability.
Findings: The findings of this research have provided a descriptive and conceptual overview of the single customer view 360° throughout the bank's Retail and Corporate Banking divisions. Moreover, analysis of the qualitative set of questionnaires brought out several different features of the corporate client enrolment procedure. In Saudi Arabia, a qualitative study has discovered enormous opportunities for customer relationship management in Functional Requirement Documents in the Jazan area of the Kingdom of Saudi Arabia.
Feasibility and Limitations of Study: The descriptive and qualitative study of customer relationship management through its functional requirement document has been achieved through the model proposed and presented in this research paper. The study is confined to a few selected national banks operating in the southern part of Saudi Arabia.
