Author(s): Shilpa Santosh Chadichal and Prasanna Mohan Raj M
The Indian banking industry has undergone rapid changes in the recent past. To survive in a highly competitive environment banks have understood that customer retention is the key to stay in the market. Banks have started to leverage technology and implement electronic customer relationship management. This helps to classify the customers based on customer lifetime value and increase the quality of customer service provided by banks. This paper examines how banks are leveraging technology to build customer relationship and influence customer choice in the banking industry. The data collection was carried out with the help of questionnaire with a sample size of 415 customers. This study uses confirmatory factor analysis and identifies the factors influencing customer choice during three phases firstly before the implementation of technology, secondly during the implementation and post implementation. Banks can employ these factors as strategic practices to attract the customers and retain them.