The Impact of Technology on Customer Relationship Management (CRM) in UK Banks

Eze, Tobechukwu Cornelia (2025) The Impact of Technology on Customer Relationship Management (CRM) in UK Banks. Doctoral thesis, University of Wales Trinity Saint David.

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Abstract

This research investigates the relationship between retail bank customers in the UK and the technologies the banks have adopted to manage and build customer relationship management. The main objective is to explore the impact of these technological advancements on CRM in UK retail banks and the influence on customers. The researcher’s development of ideas has two phases. The first phase, conducted in 2021, involved an empirical survey of retail bank customers. This phase provided significant insight, such as the increased adoption of online banking. The second phase compared three perspectives: the views of retail banks regarding their customers, customers’ actual responses from the survey, and independent observers’ opinions, drawing on the internet, social networks and various sources in the public domain, all referenced in the body of the thesis. The study recognises that retail banks now operate in a globally competitive financial market, significantly influenced by globalisation, CRM technologies, and the internet. The main research question is, “How have customers responded to significant technological innovations?” It examines the direct interface between three perspectives: customers, retail banks, and independent observers. The author developed a Venn diagram model of technology acceptance that visually represented the blends of acceptance, adoption, and adaptation concepts that highlight each perspective’s intersections, commonalities, and differences. The study findings underscore the significant benefits of retail bank technologies, with high customer awareness and usage. The convenience, accessibility, and personalised experiences these technologies offer have transformed banking interactions and transactions, making online banking the preferred method for most adults in the UK. This transformation signals a promising future for CRM in UK retail banks. The study also found a significant shift from manual processes to sophisticated data-driven systems. This transition has empowered banks to harness customer data for personalised and customer-centric banking, paving the way for a more efficient and customer-friendly future of banking. The transformative power of technology is evident, inspiring a hopeful future for CRM in UK retail banks. However, the findings also highlight the risks associated with technology, on CRM such as fraud, identity theft, and transaction mistakes, which underscore the need for robust security measures and customer education. The thesis offers empirical, academic, and practical contributions by providing a detailed analysis of the evolution of CRM technologies in UK retail banking. It offers an informed future trajectory of CRM technology development, enlightening and preparing the audience for what is to come. This research contributes to the body of knowledge by developing a unique conceptual framework that visually represents and clarifies the relationships and interactions central to CRM technology’s impact. The research also significantly contributes to practitioners by providing helpful advice promoting safety and confidence when using CRM technologies. This emphasis on the safety and confidence provided by the research is intended to make the audience feel secure and reassured about using CRM technologies.

Item Type:	Thesis (Doctoral)
Subjects:	H Social Sciences > HG Finance
Divisions:	Theses and Dissertations > Doctoral Theses
Depositing User:	Victoria Hankinson
Date Deposited:	11 Mar 2025 16:32
Last Modified:	11 Mar 2025 16:32
URI:	https://repository.uwtsd.ac.uk/id/eprint/3643

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