General Studies · Customer Relationship Management

Consider the statements below regarding Customer Relationship Management (CRM) in banking: Statement 1: CRM in retail banking is a comprehensive management philosophy that leverages technology to integrate front-office and back-office operations for a 360-degree view of the customer. Statement 2: Analytical CRM systematically processes customer data from touchpoints for propensity modeling and customer lifetime value estimation. Statement 3: Operational CRM provides automation for sales forces and service desks, ensuring real-time access to interaction history. Statement 4: Collaborative CRM synchronizes customer interactions across email, phone, and social media channels to prevent data silos. Statement 5: A critical challenge in public sector banks is legacy systems where customer information is fragmented across different product modules. Statement 6: Share of Wallet measures the total percentage of a customer's financial transactions captured by the bank. Statement 7: Under RBI guidelines, banks integrate CRM systems with the Integrated Ombudsman portal to track grievances in real-time for resolution within 30 days. Based on these statements, identify the correct assessment: