Can CRM help banks succeed in current financial crisis?

Yes, CRM is the need for all service sector industry at present scenario. And it will definitely help to banking sector to overcome the financial crisis..

Yes, very much !!! I understand even a public sector bank like SBI has allocated a huge budget and training its employees on CRM. And, CRM is all the more necessary in current financial times (not, crisis please) 

I dont have that much of experience with the banks but i can say most of the banks are facing challenges between them so they should not loose one point in any way. CRM is the way of attracting the soul of people if they did that definately it will work-out befor that industry analysed the people what they are mainly expecting from the banks..

Yes, CRM is necessary. Let me quote a recent bad experience of mine with a bank. I lost my debit card and applied for another one. Somehow my address got changed, the person who helped me fill the form, did not ask for any address proof, it seemed strange to me but taking their knowledge for granted, I filled in the form. For the next 1 month, I didn't get any reply or the debit card. I took out time, went to bank again. It took them 2 hours to tell me that due to address change , the debit card didn't reach you. They handed me over the card but pin number was missing this time. Without even feeling sorry for the incident, they told me to bring the address proof and apply for the card again. I felt ashamed to be associated with that bank. Pathetic customer service , I must say. If I cannot trust them for such a small service, would I be able to approach them for big deals later on, I do not think so.This is an individual case, but might be the bank is use to dealing with its customer's in the same way. One bad word for the service goes a long way..

Nowadays, many businesses such as banks, insurance companies, and other service providers realize the importance of Customer Relationship Management (CRM) and its potential to help them acquire new customers retain existing ones and maximize their lifetime value. At this point, close relationship with customers will require a strong coordination between IT and marketing departments to provide a long-term retention of selected customers. This paper deals with the role of Customer Relationship Management in banking sector and the need for Customer Relationship Management to increase customer value by using some analytical methods in CRM applications.

yes , I strongly agree with you.banks can take care of his costumers by adopt CRM and also understand theirs need.

there are many banks and if CRM is not adopt then costumers may switch to another one bank.so CRM is helpful to improve bank's productivity, faith and growth also.

Efficency with accuracy can only be provided through CRM and its the only thing that can lead to a fullproof solution against faulty assumptions and there after bad analysis.

I strongly believe that CRM can help banks to improve their productivity. This will improve all the process & hence it will result in maximum output & customer satisfaction.