THE LEVEL OF IMPLEMENTATION OF CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING INDUSTRY OF SERBIA

On the Serbian market today there are 33 registered domestic and foreign banks, with fierce competition between them, additionally increased with the recent world economic crisis. It has been an extremely complicated task to retain the most profitable customers and also to attract new ones. This is exactly why customer relationship management (CRM) is becoming increasingly important as a strategy which can help banks improve their business performance and become more competitive. The aim of this paper is to determine the extent, to which banks in Serbia implement the CRM strategy, as well as to identify and assess the processes in customer relationship management. We also identify the weaknesses in CRM processes and point out possible improvements.