ItemBook Chapter

The Role of Al in Customer Relationship Management for Tailored Financial Services

Title
The Role of Al in Customer Relationship Management for Tailored Financial Services
Creator
Lakshmi, S.R.; Rajimol, K.P.; Sunidu, Y.K.; Samai, Ajatashatru; Priya, R.P.; Srija, H.R.
Description
Much as the financial services industry is characterised by dynamism, Artificial Intelligence (Al) is gradually transforming the Customer Relationship Management (CRM). Among the AI-related advances is the advancement of bespoke financial services that increases involvement and experience of the customers. This chapter seeks to address the following research question: how has the incorporation of Al tools influenced the CRM strategies adopted by the industry? Newer, implementing Al in CRM systems, banks can go through terabytes of customers' information looking for more about each other's preferences, tendencies and needs. This information may therefore allow for financial services, proactive customer care and consumption point marketing based on segments of the population. Information on financial organisations' successful implementation of Al-based CRM systems is provided in the chapter; in addition, challenges and ethical issues regarding the use of these technologies are also described. The findings show how the use of Al can enhance CRM in the financial services sector resulting in satisfied and loyal customers alongside more organisation productivity. As for the maximisation of CRM results, the report also suggests that financial institutions must use Al appropriately while addressing the problems associated with the latter. 2025 Lakshmi S.R., Rajimol K.P., Y.K. Sunitha, Ajatashatru Samal, Priya R.P. and Srija H.R. All rights reserved.
Source
Security Intelligence in the Age of AI: Navigating Legal and Ethical Frameworks;pp.203-221
Date
01-01-2025
Publisher
Emerald Publishing
Subject
Artificial Intelligence; Chatbots; CRM; Financial advisory; Personalised banking; Virtual assistants
Coverage
Lakshmi S.R., Christ University, India; Rajimol K.P., Atria Institute of Technology, India; Sunidu Y.K.; Samai A., Sri Venkateshwara College of Engineering, India; Priya R.P., Sri Venkateshwara College of Engineering, India; Srija H.R., Sri Venkateshwara College of Engineering, India
Rights
Restricted Access; Hardcopy may be available in the library
Relation
ISBN: 978-183608156-2; 978-183608157-9;
Format
online
Language
English
Type
Book chapter

Citation

Lakshmi, S.R.; Rajimol, K.P.; Sunidu, Y.K.; Samai, Ajatashatru; Priya, R.P.; Srija, H.R., “The Role of Al in Customer Relationship Management for Tailored Financial Services,” CHRIST (Deemed To Be University) Institutional Repository, accessed June 18, 2026, https://archives.christuniversity.in/items/show/24278.

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