Senior teaching assistant Faculty of Business Economics, University of East Sarajevo Bosnia and Herzegovina, Republic of Srpska
Bosnia and Herzegovina

Assistant Professor, Faculty of Economics in Subotica, University of Novi Sad, Republic of Serbia

Erste bank, Novi Sad


Banks are primery focused on satisfying needs of clients. Nowdays the banks are faced with the anfair competition more than ever before. CRM (Customer Relationship Management) is a recent concept, which completely replaces the traditional approach to satisfying needs of bank clients, which have been individualized. The competitiveness in the banking market has created such a business environment banks, where there is a need of rapid tempo of creating loyal customers of the bank. The use of this concept will be provide improvement of customer loyalty, minimize operating costs and increase their profitability in the long term. CRM concept is a complex business strategy of the bank, which in his development was conceived as a software, and eventually developed into a comprehensive philosophy, which is focused on the client. Due to the variable and unpredictable conditions that exist in a globalized financial market, banks are increasingly attach importance of developing and improvement of the CRM concept. Three key factors for successful CRM are: people, processes and technology. This paper will attempt to explain the importance of managing relationships with customers, improve the CRM concept and its application in banks.


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