Journal of Information Systems Engineering and Management

Journal of Information Systems Engineering and Management, 2024 - Volume 9 Issue 2, Article No: 24663
https://doi.org/10.55267/iadt.07.14676

Published Online: 23 Apr 2024

Views: 378 | Downloads: 180

Strategic CRM and IT boost CRM efficacy in Chinese banks, according to this study. It studies how IT adoption, CRM strategy execution, IT integration, and CRM digitalization effect customer satisfaction, loyalty, retention, and organizational performance. Modern banking requires IT integration and digitization in an AI-driven environment. A quantitative study comprised 300 Chinese banking industry workers from various demographics. Five models (M1–M5) examined key variable correlations. Regression analysis found high positive connections between CRM strategy implementation, IT adoption, and other CRM attributes, showing how technology and strategy improve customer experiences. Thematic analysis of 20 industry expert interviews indicated Chinese banks' CRM implementation obstacles, corroborating quantitative findings. The study concluded that CRM strategy implementation and IT adoption improve CRM and organizational effectiveness. These findings have theoretical and practical significance for Chinese banks and businesses aiming to improve CRM and customer experiences in a shifting financial industry. Information technology integration and digitization are essential in an AI-driven world to align enterprises with financial sector dynamics for long-term success.

IT Adoption CRM Practices Customer Engagement IT Regulatory Environment Banking Information Management

• Al-Hawary, S. I. S., & Aldaihani, F. M. F. (2016). Customer relationship management and innovation capabilities of Kuwait Airways. International Journal of Academic Research in Economics and Management Sciences, 5(4), 201-226.
• Ali, K. Y., Lotayif, M. S., & Al-Deeb, H. M. (2022). Impact of customer relationship management on customer loyalty: Evidence from Kingdom of Bahrain. Journal of Statistics Applications & Probability, 11(S1), 65-70.
• Alshurideh, M. T., Al Kurdi, B., Alhamad, A., Hamadneh, S., Alzoubi, H. M., & Ahmad, A. (2023). Does social customer relationship management (SCRM) affect customers' happiness and retention? A service perspective. Uncertain Supply Chain Management, 11(1), 277-288.
• Attia, A. (2023). Effect of sustainable supply chain management and customer relationship management on organizational performance in the context of the Egyptian textile industry. Sustainability, 15(5), 4072.
• Bagale, G. S., Vandadi, V. R., Singh, D., Sharma, D. K., Garlapati, D. V. K., Bommisetti, R. K., . . . Sengan, S. (2023). Retracted article: Small and medium-sized enterprises' contribution in digital technology. Annals of Operations Research, 326, 3-4.
• Berestetska, O., Iankovets, T., Orozonova, A., Voitovych, S., Parmanasova, A., & Medvedieva, K. (2023). Using CRM systems for the development and implementation of communication strategies for digital brand management and internet marketing: EU experience. International Journal of Professional Business Review, 8(4), 1-16.
• Bilgihan, A., Kandampully, J., & Zhang, T. (2016). Towards a unified customer experience in online shopping environments: Antecedents and outcomes. International Journal of Quality and Service Sciences, 8(1), 102-119.
• Buttle, F., & Maklan, S. (2015). Customer relationship management: Concepts and technologies. London, UK: Routledge.
• Carlson, J., Rahman, M. M., Taylor, A., & Voola, R. (2019). Feel the VIBE: Examining value-in-the-brand-page-experience and its impact on satisfaction and customer engagement behaviours in mobile social media. Journal of Retailing and Consumer Services, 46, 149-162.
• Chandra, S., & Kumar, K. N. (2018). Exploring factors influencing organizational adoption of augmented reality in e-commerce: Empirical analysis using technology-organization-environment model. Journal of Electronic Commerce Research, 19(3), 237-265.
• Chen, X., Sun, X., Yan, D., & Wen, D. (2020). Perceived sustainability and customer engagement in the online shopping environment: The rational and emotional perspectives. Sustainability, 12(7), 2674.
• Chen, Y., Hu, Y., Zhou, S., & Yang, S. (2023). Investigating the determinants of performance of artificial intelligence adoption in hospitality industry during COVID-19. International Journal of Contemporary Hospitality Management, 35(8), 2868-2889.
• Chong, W. K., Man, K. L., & Kim, M. (2018). The impact of e-marketing orientation on performance in Asian SMEs: A B2B perspective. Enterprise Information Systems, 12(1), 4-18.
• Das, S., Mishra, M., & Mohanty, P. K. (2018). The impact of customer relationship management (CRM) practices on customer retention and the mediating effect of customer satisfaction. International Journal of Management Studies, 5(1(4)), 95-103.
• Dash, G., & Chakraborty, D. (2021). Digital transformation of marketing strategies during a pandemic: Evidence from an emerging economy during COVID-19. Sustainability, 13(12), 6735.
• Gallego-Gomez, C., De-Pablos-Heredero, C., & Montes-Botella, J. L. (2021). The impact of customer relationship management systems on dynamic capabilities at firms: An application to the banking industry. Journal of Global Information Management, 29(1), 103-122.
• Garrido-Moreno, A., García-Morales, V., King, S., & Lockett, N. (2020). Social media use and value creation in the digital landscape: A dynamic-capabilities perspective. Journal of Service Management, 31(3), 313-343.
• Gerea, C., Gonzalez-Lopez, F., & Herskovic, V. (2021). Omnichannel customer experience and management: An integrative review and research agenda. Sustainability, 13(5), 2824.
• Indriasari, E., Gaol, F. L., & Matsuo, T. (2019). Digital banking transformation: Application of artificial intelligence and big data analytics for leveraging customer experience in the Indonesia banking sector. In 2019 8th International Congress on Advanced Applied Informatics (IIAI-AAI) (pp. 863-868). New York, USA: IEEE.
• Isaías, P., Carvalho, L. C., Cassundé Junior, N., & Cassundé, F. R. (2020). E-business management assessment: Framework proposal through case study analysis. Journal of Information, Communication and Ethics in Society, 18(2), 237-254.
• Jambulingam, T., Joshi, M. P., & Kathuria, R. (2018). Competitive analysis of CRM strategies using analytic hierarchy process. Management Dynamics, 18(1), 1-22.
• Jelonek, D. (2015). The evolution of customer relationship management system. Recent Advances in Computer Science, 29-33.
• Katsikeas, C., Leonidou, L., & Zeriti, A. (2020). Revisiting international marketing strategy in a digital era: Opportunities, challenges, and research directions. International Marketing Review, 37(3), 405-424.
• Kaur, S. J., Ali, L., Hassan, M. K., & Al-Emran, M. (2021). Adoption of digital banking channels in an emerging economy: Exploring the role of in-branch efforts. Journal of Financial Services Marketing, 26(2), 107-121.
• Kohtamäki, M., Parida, V., Patel, P. C., & Gebauer, H. (2020). The relationship between digitalization and servitization: The role of servitization in capturing the financial potential of digitalization. Technological Forecasting and Social Change, 151, 119804.
• Kumar, P., Mokha, A. K., & Pattnaik, S. C. (2022). Electronic customer relationship management (E-CRM), customer experience and customer satisfaction: Evidence from the banking industry. Benchmarking: An International Journal, 29(2), 551-572.
• Lokuge, S., Sedera, D., Ariyachandra, T., Kumar, S., & Ravi, V. (2020). The next wave of CRM innovation: Implications for research, teaching, and practice. Communications of the Association for Information Systems, 46, 560-583.
• Luhtanen, S. (2017). The preparation for implementation a customer relationship management (CRM) tool in SMEs (Master's thesis, Häme University of Applied Sciences, Hämeenlinna, Finland). Retrieved from https://core.ac.uk/download/pdf/84800197.pdf
• Mbama, C. I. (2018). Digital banking services, customer experience and financial performance in UK banks (Doctoral dissertation). Retrieved from ProQuest. https://www.proquest.com/openview/09ec25358756dc764ddf76ec0c495164/1?pq-origsite=gscholar&cbl=2026366&diss=y
• Mutambik, I. (2023). Customer experience in open banking and how it affects loyalty intention: A study from Saudi Arabia. Sustainability , 15(14), 10867.
• Nguyen, T. H., Le, X. C., & Vu, T. H. L. (2022). An extended technology-organization-environment (TOE) framework for online retailing utilization in digital transformation: Empirical evidence from Vietnam. Journal of Open Innovation: Technology, Market, and Complexity, 8(4), 200.
• Nithya, N., & Kiruthika, R. (2021). Impact of business intelligence adoption on performance of banks: A conceptual framework. Journal of Ambient Intelligence and Humanized Computing, 12(2), 3139-3150.
• Omarini, A. E. (2018). Fintech and the future of the payment landscape: The mobile wallet ecosystem. A challenge for retail banks? International Journal of Financial Research, 9(4), 97-116.
• Padmavathy, C., Balaji, M.S. & Sivakumar, V.J. (2012). Measuring effectiveness of customer relationship management in Indian retail banks. International Journal of Bank Marketing, 30(4), 246-266.
• Peillon, S., & Dubruc, N. (2019). Barriers to digital servitization in French manufacturing SMEs. Procedia CIRP, 83, 146-150.
• Pohludka, M., & Štverková, H. (2019). The best practice of CRM implementation for small-and medium-sized enterprises. Administrative Sciences, 9(1), 22.
• Saxena, N., & Taneja, M. (2018). A study on CRM effectiveness in public and private sector banks. International Journal of Public Sector Performance Management, 4(1), 45-56.
• Sheth, J., Jain, V., & Ambika, A. (2020). Repositioning the customer support services: The next frontier of competitive advantage. European Journal of Marketing, 54(7), 1787-1804.
• Siddiqi, T., Sahel, S., & Mahmud, I. (2018). CRM dimensions affecting customer satisfaction in Bangladeshi banking industry: A structural equation modeling approach. European Journal of Business and Management, 10(8), 11-22.
• Telukdarie, A., Dube, T., Matjuta, P., & Philbin, S. (2023). The opportunities and challenges of digitalization for SME's. Procedia Computer Science, 217, 689-698.
• Tulcanaza-Prieto, A. B., Cortez-Ordoñez, A., & Lee, C. W. (2023). Influence of customer perception factors on AI-enabled customer experience in the Ecuadorian banking environment. Sustainability, 15(16), 1-22.
• Wongsansukcharoen, J. (2022). Effect of community relationship management, relationship marketing orientation, customer engagement, and brand trust on brand loyalty: The case of a commercial bank in Thailand. Journal of Retailing and Consumer Services, 64, 102826.
• Yang, X., Yang, J., Hou, Y., Li, S., & Sun, S. (2023). Gamification of mobile wallet as an unconventional innovation for promoting Fintech: An fsQCA approach. Journal of Business Research, 155, 113406.
• Yapanto, L. M., Diah, A. M., Kankaew, K., Dewi, A. K., Dextre-Martinez, W. R., Kurniullah, A. Z., & Villanueva-Benites, L. A. (2021). The effect of CRM on employee performance in banking industry. Uncertain Supply Chain Management, 9(2), 295-306.

This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.