A Study of Factors Affecting Towards the Implementation of Customer Relationship Management Systems in Local Commercial Banks of Sri Lanka Module Code and Title BLB00096 – 3 Investigations Submitted By: Archchana Vekneswaran Intake Code: GF11 B1BA Submitted to the Business School In partial fulfillment of the requirements for the degree of Bachelors of Arts (Hons) in Business Administration Supervised By:
119
Embed
Factors Influencing Towards Successful Implementation of CRM Systems in Local Commercial Banks in Sri Lanka
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
A Study of Factors Affecting Towards the Implementation of
Customer Relationship Management Systems in Local
Commercial Banks of Sri Lanka
Module Code and Title
BLB00096 – 3 Investigations
Submitted By:
Archchana Vekneswaran
Intake Code:
GF11 B1BA
Submitted to the Business School
In partial fulfillment of the requirements for the degree of
Bachelors of Arts (Hons) in Business Administration
Supervised By:
Prof. Kennedy Gunawardena
Staffordshire University
25th June 2012, Colombo
CRM Implementation in Local Commercial Banks CB 003654
ABSTRACT
This study analyses the factors which contributes towards the successful CRM system
implementation in locally established commercial banks of Sri Lanka. Maintaining
effective relationships with the customers is of great importance in today’s context for
commercial banks due to intensified competition from the external forces such as
dynamic nature of the environment and evolvement of technology. Bankers have to
consider various factors when it comes to CRM in the context of technological systems
such as internet banking, ATM, mobile banking etc.
The major objectives of this report are to identify the extent computerized operations in
banking, to identify the current barriers to CRM implementation in banks, to identify
factors affecting towards the implementation of successful CRM, to figure out the
relationship between factors and successful CRM implementation, and to provide
possible recommendations to overcome issues. The main factors identified for analysis
are technological orientation, customer centricity, external competitive pressures, top
management support and leadership, employee behaviour and financial aspects. Under
literature review the above factors were elaborated in the context of financial sector
institutes like commercial banks.
Under methodology conceptual framework was developed based on the review of
literature. Stratified random sampling method was adopted to select the sample from the
local commercial banks which has implemented CRM technology in their current
operations. Proposed statistical methods of the previous researches are also included for
1.2 Problem Statement................................................................................................................9
1.3 Problem Justification.............................................................................................................9
1.4 Objectives of the study..........................................................................................................9
1.5 Significance of the study.....................................................................................................10
1.6 Scope and Limitations of the study.....................................................................................10
CHAPTER 2: LITERATURE REVIEW.......................................................................................11
2.1 CRM and Banking Sector – A Technological Stance..........................................................11
2.2 Applications of CRM..........................................................................................................11
2.3 Electronic Banking in Sri Lanka: Prospects and Constraints...............................................12
2.4 Challenges ahead for Sri Lankan commercial banks which could impact CRM technology adoption....................................................................................................................................13
2.4.1 ICT revolution and impact on banking.........................................................................13
2.4.2 Challenges posed by globalization...............................................................................14
2.4.3 Race for adopting new technologies.............................................................................14
Table 1: List of Hypothesis...........................................................................................................27Table 2: Proposed Statistical Models............................................................................................31Table 3: Reliability of the statistics................................................................................................33Table 4: Growth of LCB Branches in Sri Lanka...............................................................................35Table 5: Growth of Domestic LCB branches in Colombo...............................................................36Table 6: Telecommunication Services Trend in Sri Lanka 2001 - 2009..........................................38Table 7: Features of Different Forms of E-Banking........................................................................40Table 8: Trend of ATMs in SL.........................................................................................................41Table 9: Credit Card Transaction Trends.......................................................................................42Table 10: Trend of Value per Transaction - Credit Cards...............................................................42Table 11: Debit Card Transactions of LCBs in SL............................................................................43Table 12: EFPOS Trends of LCBs in SL............................................................................................44Table 13: Online Banking Trends in SL...........................................................................................45Table 14: Mobile/Tele Banking Trends of LCBs in SL.....................................................................45Table 15: Composition of Electronic Payments.............................................................................46Table 16 - Awareness and Use of Electronic Banking Solutions....................................................48Table 17: Legislations governing E-Banking Transactions..............................................................50Table 18: Operational Risks of E-Banking Solutions......................................................................51Table 19: Barriers in E-CRM Implementation in LCBs of Sri Lanka - Primary Data.........................53Table 20: Mean and Standard Deviation Statistics of Variables....................................................54
Asia Pacific Institute of Information Technology 5
CRM Implementation in Local Commercial Banks CB 003654
Table 21: Frequency Table for Technology Orientation................................................................54Table 22: Frequency Distribution Table for Customer Centricity..................................................56Table 23 : Frequency table for External Competitive Pressures....................................................57Table 24: Frequency table for Top Management Commitment and Leadership...........................58Table 25: Frequency Table for Employee Behaviour.....................................................................60Table 26: Frequency Table for Financial Aspects...........................................................................61Table 27: Frequency table for Successful CRM Implementation...................................................62Table 28: Correlation of Technological Orientation and CRM Implementation............................64Table 29: Correlation of Customer Centricity and CRM Implementation......................................64Table 30: Correlation between External Competitive Pressures and CRM Implementation.........65Table 31: Correlation between Top Management Commitment and CRM Implementation........65Table 32: Correlation between Employee Behaviour and CRM Implementation..........................66Table 33: Correlation between Financial Aspects and CRM Implementation...............................66
LIST OF FIGURES
Figure 1: Conceptual Framework..................................................................................................25Figure 2: Sample Selection............................................................................................................28Figure 3: Population and Sampling...............................................................................................28Figure 4: Response Level for Distribution of Questionnaires........................................................32Figure 5: Banking Density of All the Banks by District - 2011........................................................34Figure 6: Growth of LCB Branches in Sri Lanka..............................................................................35Figure 7: Expansion of Commercial Banks and No of Commercial Bank Branch Density per 100000 for SL.............................................................................................................................................36Figure 8: Growth of Domestic LCB's in Colombo District...............................................................37Figure 9: Total Number of Domestic LCB branches in Colombo in 2011 (Population of the Study)......................................................................................................................................................37Figure 10: Telecommunication Trends in Sri Lanka (2001-2009)...................................................39Figure 11: Evolution of E-CRM Solutions of Sri Lanka....................................................................40Figure 12: Trend of Value per Transaction - ATM..........................................................................41Figure 13: LCB ATMs per 100,000 people......................................................................................41Figure 14: Credit Card Operations per 100,000 people.................................................................42Figure 15: Trends of Debit Cards Issued and Transactions............................................................43Figure 16: Trend of value per transaction via EFTPOS...................................................................44Figure 17: Trend in transaction via online banking sites of LCBs...................................................45Figure 18: Trend in Mobile/Tele banking Transactions.................................................................46Figure 19: Composition of Non Cash Transactions........................................................................46Figure 20: Transaction cost for bank Vs E-CRM Solutions.............................................................47Figure 21: Risks involved in Internet Banking................................................................................49Figure 22: Histogram for Technology Orientation.........................................................................55
Asia Pacific Institute of Information Technology 6
CRM Implementation in Local Commercial Banks CB 003654
Figure 23: Histogram for Customer Centricity...............................................................................56Figure 24 : Histogram of External Competitive Pressures.............................................................57Figure 25: Histogram for Top Management Commitment and Leadership...................................59Figure 26: Histogram for Employee Behaviour..............................................................................60Figure 27: Histogram for Financial Aspects...................................................................................61Figure 28: Histogram for Successful CRM Implementation...........................................................63Figure 29: Solution Model for Successful CRM Implementation...................................................68Figure 30: Sample Representation of LCBs....................................................................................75Figure 31: Location Representation in the sample........................................................................75Figure 32: Private Vs Government Banks Representation in the sample......................................76Figure 33: Gender of the respondents..........................................................................................76Figure 34: Age Composition of the Sample...................................................................................77Figure 35: Educational Qualifications of the Sample.....................................................................77Figure 36: Customer Base of the Samples.....................................................................................78Figure 37: Annual Revenue of the Sample Branches.....................................................................79
LIST OF ABBREVIATIONS
Asia Pacific Institute of Information Technology 7
CRM Implementation in Local Commercial Banks CB 003654
CHAPTER 1: INTRODUCTION TO THE STUDY
1.1 Introduction
In today’s context customers are becoming increasingly sophisticated and demanding for
better product or service which is often referred by the phrase “Customer is the King”.
For any industry customers have become their main focal point. This emerging trend has
lead to the concept of Customer Relationship Management (CRM). Technology plays a
vital role in such context to manage customer profiles and to maintain long term stable
banking relationship. Banking operations has increasingly become customer centric now
days. Competition has intensified among the retail banks to create customer loyalty by
escalating usage of customer details and offering customized services. Banks started to
use CRM technologies such as internet banking, mobile banking, e-mails, call centers etc
to provide an enhanced service experience to their customers.
In global context, 83% of customers are satisfied with internet banking, and 79% prefer
ATMs (E & Y, 2011). Call centers are not that preferred and 42% of the customers never
used mobile banking (E & Y, 2011). Customers demanding for more personalized
services from call centers and require more availability of ATMs and user friendly
internet banking sites (E & Y, 2011). Even though most of the matured markets have
sophisticated technological infrastructure, customers’ reliability drop questions on
rebuilding trust soon after the credit crunch in 2008.
In Sri Lankan context, Commercial banks heavily started following international trends in
adopting CRM technologies in banking. Banks offer similar CRM solutions as in the
global scenario to provide services anywhere and at anytime. Sri Lanka experienced a
phenomenal growth in ICT over last two decades which is evident through the large
penetration of 68 mobile phones per 100 people (Economic Review, 2011). Even though
the internet usage rate stays at 8.3% (Internet world stats, 2011) these developments
shows a strong potential for the providing of CRM solutions via e-banking, m-banking etc
(Economic Review, 2011). These facilities were mostly used by commercial customers
Asia Pacific Institute of Information Technology 8
CRM Implementation in Local Commercial Banks CB 003654
where as ATM has been the most popular CRM solution (Economic Review, 2011).
Customer awareness on above facilities are very minimal as they were not publicized
(Economic Review, 2011). It is evident that CRM related technologies are new
phenomenon in Sri Lanka.
1.2 Problem Statement
What are the factors affecting towards the implementation of CRM in local commercial
banks and how to overcome those barriers?
1.3 Problem Justification
It’s the foremost challenges for commercial banks to acquire capacity to serve its clientele
efficiently. Efficiency refers to offering requested service on time, at superior quality and
in competitive prices. To improve the reach for their customers, one possibility is banks
should increase their market presence by opening various branches. Even though this
serves the issue, administration cost and having skilled staff in all branches is really
expensive and ROI will be very low. This would erode the viability of having branches.
Limiting only to physical location would place barriers in future expansions for a bank.
So multi channel integration has become tremendously important feature of a bank to
meet customer expectations. Due to this CRM systems have been an important feature of
commercial banks in Sri Lanka.
Even though emergence of technical CRM tools has bought tremendous customer insights
there seems to be issues in successfully adapting to fully fledged CRM services due to
various reasons. These issues are low in the context of foreign commercial banks
operating in Sri Lanka due to the significant difference in the customer segment to which
they serve and also due to the sophisticated systems they have. So the locally established
commercial banks has to combat by determining and overcoming factors influencing
towards successful CRM implementation to sustain their customer focused market
presence.
1.4 Objectives of the study
1. To identify the extent of computerized operations in local commercial banking
sector.
Asia Pacific Institute of Information Technology 9
CRM Implementation in Local Commercial Banks CB 003654
2. To identify the existing CRM implementation barriers in local commercial banks.
3. To identify factors affecting to the successful CRM implementation to the local
commercial banks.
4. To find out the relationship between factors affecting to the successful CRM
implementation to the local commercial banks.
5. To make suitable recommendation to overcome the CRM implementation barriers.
1.5 Significance of the study
The beneficiaries of the report would be the local commercial banking institutions in Sri
Lanka. The barriers and possible recommendations would help the bankers to develop
strategies to overcome current barriers in future. More focus on these technological CRM
would improve their performance in as it would give more insight to customers’ contact
to develop customized services in future. This research could act as a guiding tool to
avoid failures in CRM implementations.
Shareholders of the local commercial banks could also be benefited as successful CRM
implementation would increase the reach of the bank and thereby increases level of
transaction which would lead to better revenue stream. As this could improve the
shareholder wealth the study would be useful from investors’ perspective.
There would be an insight to the ICT sector firms as CRM solution were developed and
installed by them. This research could give indication as to what a bank should
necessarily include in its CRM solution in the case of internet banking, mobile banking
etc. Employees of local commercial banks would be benefited through increased
efficiency in customer interactions. Customers would be benefited at the end as well due
to improved reach in financial solutions from local commercial banks.
1.6 Scope and Limitations of the study
The study will only look into the 40 branches of locally established commercial banks
which use CRM application and do not focus on foreign commercial banks. The area of
study will be limited to Colombo district only. The study will limit the identification of
factors on CRM only related to technology aspect or software applications and not the
Asia Pacific Institute of Information Technology 10
CRM Implementation in Local Commercial Banks CB 003654
traditional face to face customer relationship. Only limited factors appropriate to Sri
Lankan context would be considered for analysis.
CHAPTER 2: LITERATURE REVIEW
2.1 CRM and Banking Sector – A Technological Stance
CRM as concept has been a topic which has been looked at by the researchers globally. It
is one of the fastest growing business trends in the world (Raman et al, 2006). Haq et al
(2010) states “Customer Relationship Management (CRM) is extensively accepted as an
effective tool to collect, analyzes, and translates precious customer information into
managerial action”. Another point of view of CRM as Silva (2006) says, “CRM is a
combination of business processes and technology that seeks to understand a company’s
customers from multiple perspectives to competitively differentiate a company’s products
and services”. CRM could be seen as a method to indentify, convert, acquire and retain
customers (Silva, 2006).
Traditional customer relationship would be only limited to front office face to face
contact but this situation has changed to greater extent over time with emergence of
technologies. With the deployment of ICT tools financial sector firms such as commercial
banks faced a paradigm shift to technology driven CRM practices. One main factor
influenced towards this was banks once faced “data rich and information poor” situation.
Analytical tools were required to analyze customer profiles to improve their cross selling
and up selling opportunities to improve growth and profitability (Campbell, 2003).
Financial firms have been able leverage maximum knowledge out of IT - CRM solutions
to customize their service offering to match the exact needs of customers through tracking
of information (Campbell, 2003).
2.2 Applications of CRM
Perspectives of CRM soft ware technologies could exist in the following three ways:
1. Operational CRM:
The business processes and technologies that help improving the efficiency of day-to-day
customers operations and this include sales and service automation. This service is
Asia Pacific Institute of Information Technology 11
CRM Implementation in Local Commercial Banks CB 003654
provided through many channels such as phone, e-mail, fax etc (O’Brien and Marakas,
2006). It provides a uniform view of the customers to deliver better services (O’Brien and
Marakas, 2006).
2. Collaborative CRM:
It provides easy collaborations between the firm and its customers and improves
efficiency towards service delivery. This would provide greater responsiveness
throughout the value delivery chain (O’Brien and Marakas, 2006).
3. Analytical CRM:
This concerns customer data analysis to improve business decisions. It includes data
warehouse systems, customer profiling, reporting, analysis and data mining. These
analatytical techniques help to improve customizations for a customer’s required needs
(O’Brien and Marakas, 2006).
2.3 Electronic Banking in Sri Lanka: Prospects and Constraints
Together with unprecedented innovations in ICT coupled with finance sector
liberalization electronic applications are emerging in Sri Lanka (Colombage, 2011).
Electronic banking is offered in different platforms such as internet banking, telephone
banking, mobile banking, mobile money etc (Colombage, 2011). The use of electronic
banking such as online banking and phone banking has shown emerging trend in Sri
Lanka (Colombage, 2011).
Commercial banks and other specialized banks started offering virtual banking which
includes the services such as balance enquiry, check status, stop payments, bill payments,
inward remittance and fund transfers (Colombage, 2011). Due to growth of
telecommunication facilities offered most of the population has mobile phone and this has
created the potential for m-banking which has been offered by most of the financial sector
firms (Colombage, 2011). Even though the computer literacy level shows exception 40%
compared to other developing countries still the adoption or knowledge on internet/
mobile banking is very limited (Colombage, 2011). 70% of the population has some
knowledge on ATM usage and most of ultra poor migrant workers have knowledge on
10. When the bank did start using alternative solution to branch banking [Ex: ATMs,
online banking, mobile banking etc]?
11. What type of customer details are gathered from the above solutions?
73
CRM Implementation in Local Commercial Banks CB 003654
PART - B
Please choose the most suitable answer with a “X” sign in the given box.
[SA – Strongly Agree, A – Agree, N – Neutral, D – Disagree, SD – Strongly Disagree]
Questions SA A N D SD
Tech
nolo
gy O
rient
ation
12 Bank’s information systems are integrated across the different functional areas [Savings division, loan division, pawning division etc]
13 Individualized information about each customer is available at all contact points
14 Bank has right technical staff to provide technical support for use of technology in building customer relationships
15 Bank is able to consolidate all information acquired about customers in comprehensive up-to-date database
16 Bank has promoted their alternative banking solutions such as ATMs, online banking, mobile banking etc promptly for the creation of awareness among their banking customers
Cust
omer
Cen
tric
ity
17 Bank’s market excellence is based on understanding customer needs
18 Bank’s business strategies are driven by objective of increasing value for customers
19 Bank offers personalized services for key customers
20 Anybody in the organization is convinced of the importance of customers for the organization (Customer centric organizational culture)
21 Loyal customers are rewarded
74
CRM Implementation in Local Commercial Banks CB 003654
Exte
rnal
Com
petiti
ve P
ress
ures
22 Competitive pressures are the main reason for the usage of customer interaction technologies in the banking operations to out beat the rivals
24 The technology in our industry is changing rapidly
25 Technological changes provide big opportunities in banking industry in terms of technology to serve customers better
26 Business intelligence units are there to continuously monitor changes in customer service technologies adopted by competitors
Top
Man
agem
ent C
omm
itmen
t an
d Le
ader
ship
27 In the bank's vision you declare the commitment to customers
28 Top management is strongly involved in implementation of customer relationship targets to retain the customers
29 Senior Executives would sooner create something new to improve the market presence
30 The bank management has provided a very friendly customer focused environment
31 Top management shows leadership when initiating a customer oriented technological program
Empl
oyee
Beh
avio
ur
32 Bank has qualified (expert) employees needed to succeed in customer relationship technology usage.
33 Training programs are designed to help employees develop skills neededto manage customer relationships appropriately
34 Employee performance is measured for rewards on basis of detection of customer satisfaction with service provided
75
CRM Implementation in Local Commercial Banks CB 003654
35 Bank has provided an environment where the employees are freely allowed to share the knowledge about serving customers
36 Bank's employees are motivated in various ways towards the commitment of customer related initiatives of the bank
Fina
ncia
l Asp
ects
37 Bank's financial capability is the most influential factor when considering new technology adoption for better contact management
38 Viability of the project is measured through the return per investment for better financial evaluation of the investment
39 Budgetary targets for each investment is set for control purposes of adverse budget over run
40 Efficiency of the banking operations in terms of cost per customer contacts has shown improvements after implementing customer contact technologies over time
41 Bank's market share has improved with effective technological solutions
Succ
essf
ul C
RM Im
plem
enta
tion 42 Customer trust in our technological banking solutions without any human interactions have
improved43 Perceived customer satisfaction has improved with customer related technological solutions
44 Customer loyalty has shown improvements after the technological initiatives
45 Bank's competitive position has improved with innovative technological solutions
46 Customer complaints on banking services have significantly reduced after alternative technological solutions to branch banking
76
CRM Implementation in Local Commercial Banks CB 003654
PART - C
48. What are the barriers existing in your branch and area you serve the customers through a technological banking solution? Are those services heavily welcomed by your customer base?
49. In your opinion, what are the major considerations when introducing and implementing a new customer related technological solutions in local commercial banks?
APPENDIX B – Interview Questions
1. Can you give an insight to the initial investment of implementing a sophisticated CRM
solution?
2. What are the main strategic information that are been gathered via a CRM solution like
ATMs, online transactions, mobile banking solutions etc?
3. How are you managing the employee resistance for IT solutions? What type of training
facilities do you provide the employees to work with IT solutions? How often do they get
trained?
4. Is there any customer oriented performance related pay schemes for the employees?
5. What are the initiatives taken by the top level management to make the customers aware
of the solutions and also to persuade them towards using them?
6. In your opinion, do you think that branch banking would still be viable in few years time
with emerging technological advancements in the context of banking in Sri Lanka?
77
CRM Implementation in Local Commercial Banks CB 003654
APPENDIX C: Demographics of Primary Survey
a. Local LCBs’ representation in the sample
b. Branch Location representation in the sample
78
Figure 30: Sample Representation of LCBsSource: Compiled by Author
Figure 31: Location Representation in the sample
Source: Compiled by Author
CRM Implementation in Local Commercial Banks CB 003654
c. Type of banks in the sample (Government Banks Vs Private Banks)
Figure 32: Private Vs Government Banks Representation in the sample
d. Respondents Gender
Figure 33: Gender of the respondents
79
Source: Compiled by Author
Source: Compiled by Author
CRM Implementation in Local Commercial Banks CB 003654
e. Respondents Age
Figure 34: Age Composition of the Sample
f. Educational Qualifications of the Respondents
Figure 35: Educational Qualifications of the Sample
80
Source: Compiled by Author
Source: Compiled by Author
CRM Implementation in Local Commercial Banks CB 003654
g. Customer Base of Respondents
81
Figure 36: Customer Base of the Samples Source: Compiled by Author
CRM Implementation in Local Commercial Banks CB 003654
h. Annual Revenue of the sample branches
82
Figure 37: Annual Revenue of the Sample Branches Source: Compiled by Author
CRM Implementation in Local Commercial Banks CB 003654
REFERENCES
Bank of Ceylon (2012), [online] Available at: http://www.boc.lk/bochome/index.jsp [Accessed on February 1st 2012]
Bankable Frontier Associates (2008). Managing the Risk of Mobile Payments [Online] Available at: http://www.bankablefrontier.com/assets/pdfs/MBTechnologies_risks.pdf [Accessed on June 1st, 2012]
Bharadwaj A.S. (2000). A resource-based perspective on information technology capability and firm performance: An empirical investigation. MIS Q 24(1):169–96.
Bitner, M.J., Brown, S.W., & Meuter, M.L. (2000). Technology infusion in service encounters. Journal of the Academy of Marketing Science, 28, pp 138–149.
CBSL (2012), Monthly Bulletin November 2011 [Online] Available at: http://www.cbsl.gov.lk [Accessed on 16th June, 2012].
CBSL (2012), Payments Bulletin Periodical 2005 – 2011 [Online] Available at: http://www.cbsl.gov.lk/htm/english/10_pub/p_4.html [Accessed on 7th June, 2012]
CBSL (2012), Statistics on Banking Sector [Online] Available at: http://www.cbsl.gov.lk/htm/english/08_stat/s_6.html [Accessed on 29th May, 2012].
Central Bank of Sri Lanka corporate website (2012), [online] Available: http://www.cbsl.gov.lk [Accessed on February 1st 2012].
Commercial Bank (2012), [online] Avilable at: http://www.combank.net/[ Accessed on February 1st 2012].
Crocket, B., & Reed, K. (2003). The foundation of insight: three approaches to customer-centric understanding, The Ultimate CRM Handbook, McGraw-Hill, New York.
DFCC Vardhana Bank (2012), [online] Available at: http://www.dfccbank.com/ [Accessed on February 1st 2012]
Dr. Tennakoon, U. A. (2011). The Role of State Banks in the Sri Lankan Economy with Special Reference to the People’s Bank, Economic Review April/May 2011. p. 36-43.
Economic Review (2010) Highlights of Banking Industry Sri Lanka, Economic Review April/May 2011. p. 36-43. People’s Bank.
Haq, I.U., Ramay, I.M, Rehman, A.M. & Jam, A.F., (2010).Big Five Personality and Perceived Customer Relationship Management, Research Journal of International Studies, Issue 15.pp. 37 – 45.
Hatton National Bank (2012), [online] Available at: http://www.hnb.net/ [Accessed on February 1st 2012].
Hung, S.H., Hung W.H., Tsai, C.A. & Jiang S.C. (2009). Critical factors of hospital adoption on CRM system: Organizational and information system perspectives, Decision Support Systems, 48, pp 592 – 603.
Intel (2012). Top 10 Technological Risks [online] Available at: http://www.nortech.com/solutions/dox/Top_10_Technology_Risks.pdf [Accessed on May 20th, 2012]
Internet world stats, (2012), [online] Available at: http://www.internetworldstats.com/stats2.htm [Accessed on January 15th 2012].
Khaoticen (2012). Technology Risk Management in the banking industry [Online] Available at: http://www.khaoticen.com/Downloads/Technology%20Risk%20Management%20in%20the%20Banking%20Industry.pdf [Accessed on 6th June, 2012]
Ko, E., Kim, S.H., Kim, M. & Woo, J.Y. (2007). Organizational characteristics and the CRM adoption process, Journal of business research, 61, pp 65 – 74.
Kumara, S. (2012). Branch Banking is still Valid [Online] Available at: http://www.apbsrilanka.org/articales/15an/artical-saliya%20kumara.html [Accessed on 16th June, 2012]
Maldeni M.S., and Jayasena S., (2009). Information and Communication Technology Usage and Bank Branch Performance. The International Journal on Advances in ICT for Emerging Regions 02 (02): 29 – 37
Moreno, A.G. & Melendez, A.P. (2011). Analyzing the impact of knowledge management on CRM success: The mediating effects of organizational factors, International Journal of Information Management, 31, pp 437 – 444.
Nations Development Bank (2012), [online] Available at: http://www.ndbbank.com/ [Accessed on February 1st 2012]
CRM Implementation in Local Commercial Banks CB 003654
Nations Trust Bank (2012), [online] Available at: http://www.nationstrust.com/ [Accessed on February 1st 2012]
O’Brien, J.A. & Marakas, G.M, (2006). Management Information Systems, 7 th Ed, New Delhi: Tata-McGraw Hill.
Pan Asia Bank (2012), [online] Available at: http://www.pabcbank.com/ [Accessed on February 1st 2012]
Payne, A., & Frow, P. (2005). A strategic framework for customer relationship management. Journal of Marketing, 69, pp 167–176.
Payne, A., & Frow, P., (2006). Customer relationship management: from strategy to implementation, Journal of Marketing Management, 22, pp 135 – 168.
Peelen, E., Montfort K.V., Beltman R. & Klerkx A. (2009), An empirical study into the foundations of CRM success, Journal of Strategic Marketing, vol. 17, no 6, pp 453 – 471.
Peoples Bank (2012), [online] Available at: http://www.peoplesbank.lk/ [Accessed on February 1st 2012]
Piskar, F. & Faganel, A (2009). A Successful CRM Implementation project in a service company: Case Study, Organizacija Journal, vol.42, no.1, pp 199 – 208.
Prof. Colombage, S. (2011). Electronic Banking in Sri Lanka: Prospects and Constraints, Economic Review April/May 2011. p. 8-12.
Rahimi, I. & Berman, U. (2009). Building a CSF framework for CRM Implementation, Journal of Database Marketing and Customer Strategy Management, vol 16 (4), pp 253 – 265.
Raman, P., Wittmann, M.C., & Rauseo, A.N., (2006). Leveraging CRM for sales: The role of organizational capabilities in successful CRM implementation, Journal of Personal Selling and Sales Management, vol.26, no.1, pp 39 – 53.
Rapp, A., Trainor, J.K. & Agnihotri, R. (2009). Performance implications of customer – linking capabilities: Examining the complementary role of customer orientation and CRM technology, Journal of Business Research, no 63, pp 1229 – 1236.
Ratnayake (2012). Overview of legislature in Sri Lanka to tackle internet banking fraud [Online] Available at: http://www.helium.com/items/1931888-overview-of-legislature-in-sri-lanka-to-tackle-internet-banking-fraud?page=2 [Accessed on 7th June, 2012]
Sampath Bank (2012), [online] Available at: http://www.sampath.lk/index.php [Accessed on February 1st 2012]
Seylan Bank (2012), [online] Available at: http://seylan.net/ [Accessed on February 1st 2012]
CRM Implementation in Local Commercial Banks CB 003654
Silva, D.S., (2006). Customer-centric knowledge management in E-Business: A Paradigm shift in Sri Lankan Banking, 18th Anniversary Convention, Sri Lanka, IBSL.
Speier, Cheri, and Vishwanath V., (2002), “The Hidden Minefields in the Adoption of Sales Force Automation Technologies,” Journal of Marketing, 66 (3), pp 98–112.
Sunday Times (2010), Mobile Payments: Central Banks Guidelines Should Not Kill Innovations. Business Times on Sunday. September 5th.
Suraweera, T., Kahingala, S., Batepola, A., Punchihewa, M.G., Seneviratne, K., and Khandawaarachi. C., (2012). IT driven Banking Services in Sri Lanka: Customer Acceptance and Service Quality [Online] Available at: http://www.kln.ac.lk/uokr/ICBI2011/ICT%20203.pdf [Accessed on 8th June, 2012]
Union Bank (2012), [online] Available at: http://www.unionb.com/contactUs.jsp [Accessed on February 1st 2012]
Wijeratne (2011). Electronic Payment Systems in Sri Lanka, 23 rd Anniversary Convention Issue, Sri Lanka, IBSL.
Wijewansa, S.M., (2011). Customer Relationship Management Systems in the Sri Lankan hospitality industry for sustained growth and development, B.Sc thesis, University of Moratuwa. Sri Lanka.
Wijewardena, A.W., (2011).New Challenges in Banking, [online] Available at: http://www.cbsl.gov.lk/htm/english/02_prs/prs.html [Accessed on January 20th 2012].
World Bank (2012). Information Technology Risks [Online] Available at: http://www1.worldbank.org/finance/assets/images/Information_technology_risks.pdf [Accessed on May 24th, 2012]