An Empirical Study Of It Development In The Banking Industry Of Taiwan

Abstract

The focal point adopted in the present study is Customer Relationship Management (CRM) and its adoption in Taiwan’s banking industry. Since the current challenge banks are facing is in implementing and supporting new technological solutions that will enable them to be more responsive and flexible to their clients, a quantitative research methodology was employed in the present study in an attempt to answer the following research question: What are the critical factors that explain the degree of success in the deployment of CRM systems in Taiwan’s banking industry? First, based on the findings from the previous studies, an exploratory study consisting of focus-group interviews was conducted to uncover the nature of the problems confronting the banks in adopting CRM. Second, based on the findings from this preliminary investigation, a quantitative analysis using survey and statistical methods was conducted to identify possible answers to the research question. The research done with the present study has uncovered a number of factors which can be used to guide companies for a successful CRM deployment. These factors include primacy of customer service, customizing CRM functions/modules, discovering customers’ needs, maintaining employee’s moral, conducting a decision support system. If the major goal of implementing a CRM system is to improve the overall CRM deployment, the management in Taiwan’s banking industry should then emphasize three of two factors: primacy of customer service and customizing CRM functions/modules.