AI-Enhanced SEM Analysis: Evaluating E-CRM's Effect on Customer Experience in NCR's Private Banking Sector

Gurinder Singh, Ameet Sao, Sakshee Singh, Mike Hinchey

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

The current study focuses on the integration of Artificial Intelligence (AI) within Electronic Customer Relationship Management (ECRM) systems in the ever-evolving landscape of financial services, particularly in the private banking sector of Delhi, India. It explores how AI-driven ECRM can affect the customer experience and satisfaction. The research, grounded in empirical data from 323 structured surveys across 23 bank branches, employs advanced AI analytical tools and ML algorithms taking Explanatory Factor Analysis (EF A), Confirmatory Factor Analysis (CFA) and Structural Equation Modeling (SEM) as base to interpret customer feedback. It is concluded that AI-driven ECRM plays a pivotal role in shaping the customer experience, leading to higher satisfaction levels. The ML output confirms with strong significance that ECRM positively impacts customer experience (ß= 0.37, p=0.001) and satisfaction (ß = 0.43, p=0.001), while also establishing customer experience as a crucial intermediary between ECRM and overall customer satisfaction. This underscores the potential of AI in transforming customer relationship strategies and achieving a competitive edge in the financial sector through improved ECRM.

Original languageEnglish
Title of host publicationProceedings - International Conference on Technological Advancements in Computational Sciences, ICTACS 2023
EditorsNaina Chaudhary
PublisherInstitute of Electrical and Electronics Engineers Inc.
Pages957-962
Number of pages6
ISBN (Electronic)9798350342338
DOIs
Publication statusPublished - 2023
Event3rd International Conference on Technological Advancements in Computational Sciences, ICTACS 2023 - Tashkent, Uzbekistan
Duration: 1 Nov 20233 Nov 2023

Publication series

NameProceedings - International Conference on Technological Advancements in Computational Sciences, ICTACS 2023

Conference

Conference3rd International Conference on Technological Advancements in Computational Sciences, ICTACS 2023
Country/TerritoryUzbekistan
CityTashkent
Period1/11/233/11/23

Keywords

  • (SEM)
  • Artificial Intelligence
  • business analytics
  • Electronic Customer Relationship Management
  • Structural Equation Modeling

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