The effect of customer relationship management innovations on service excellence in banking: a case study of Sterling Bank
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Background of the Study
Customer Relationship Management (CRM) innovations have revolutionized how banks interact with their clients by leveraging technology to deliver personalized and efficient services. Sterling Bank has implemented cutting-edge CRM solutions designed to enhance service excellence and drive customer satisfaction. These innovations include integrated data platforms, real-time customer feedback mechanisms, and AI-driven analytics to tailor services to individual customer needs (Adebayo, 2023). The bank’s approach is anchored in relationship marketing theories which assert that strong customer relationships lead to improved loyalty and higher service quality.
By adopting innovative CRM systems, Sterling Bank is able to streamline communication channels, resolve customer issues promptly, and provide customized financial advice. This digital transformation in customer relationship management has led to enhanced operational efficiency, reduced service response times, and a more proactive approach to managing customer concerns (Okonkwo, 2024). Furthermore, the integration of omnichannel strategies ensures that customers experience consistent service quality across various touchpoints, from in-branch interactions to online engagements. Despite these advancements, the bank faces challenges in fully realizing the potential of CRM innovations due to issues such as data integration complexities and resistance to change among staff. This study aims to evaluate the impact of CRM innovations on service excellence at Sterling Bank, providing insights into best practices and areas for further improvement.
Statement of the Problem
Despite the significant investment in CRM innovations at Sterling Bank, there remains a gap between the expected improvements in service excellence and actual customer experiences. Feedback from customers indicates that while some segments benefit from personalized services, inconsistencies in data integration and system responsiveness result in uneven service quality (Olu, 2023). Additionally, the rapid evolution of CRM technologies has led to challenges in training staff adequately, resulting in resistance and underutilization of the new systems. These issues contribute to a disconnect between the strategic intent of CRM enhancements and their practical implementation, potentially undermining customer loyalty and satisfaction. Moreover, the complexity of integrating advanced CRM tools with existing legacy systems creates operational bottlenecks, further exacerbating the problem. This study, therefore, seeks to investigate whether the current CRM innovations at Sterling Bank are effectively translating into service excellence and to identify key operational challenges that need to be addressed to achieve optimal performance (Chinonso, 2025).
Objectives of the Study
To assess the impact of CRM innovations on service excellence at Sterling Bank.
To identify operational challenges hindering effective CRM implementation.
To propose strategies for optimizing CRM systems to enhance customer service quality.
Research Questions
How do CRM innovations affect service excellence at Sterling Bank?
What operational challenges impact the effective use of CRM tools?
How can CRM systems be optimized to improve overall customer service?
Research Hypotheses
CRM innovations are positively correlated with improved service excellence.
Integration challenges negatively affect the overall performance of CRM systems.
Enhanced staff training and system integration lead to higher customer satisfaction.
Scope and Limitations of the Study
This study focuses on Sterling Bank’s CRM practices over the past two years. Limitations include potential biases in customer feedback and challenges in isolating CRM effects from other service quality determinants.
Definitions of Terms
• Customer Relationship Management (CRM): Systems and strategies used to manage and analyze customer interactions and data.
• Service Excellence: The superior quality of service that meets or exceeds customer expectations.
• Omnichannel Strategy: A multi-channel approach to customer engagement that ensures a seamless experience.
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