What does a virtual relationship manager do?
What Does a Virtual Relationship Manager Do in 2025?
The banking sector in India is undergoing a digital transformation, with private banks like ICICI Bank, HDFC Bank, Axis Bank, IDFC First Bank, and Kotak Mahindra Bank leading the charge. Amid this shift, the role of a Virtual Relationship Manager (VRM) has emerged as a critical position, blending traditional client relationship management with digital tools. With India’s banking industry growing at 10–12% annually and digital transactions like UPI reaching 100 billion in 2024, VRMs are pivotal in delivering personalized banking services remotely. This blog explores the responsibilities, skills, and career prospects of a Virtual Relationship Manager in 2025, with expert insights from Eduooze Skill Institute, a trusted training provider with over 7,000 placements in top banks.
Who Is a Virtual Relationship Manager?
A Virtual Relationship Manager is a banking professional who manages client relationships primarily through digital channels, such as video calls, mobile apps (e.g., ICICI’s iMobile, HDFC’s PayZapp), email, and WhatsApp. Unlike traditional Relationship Managers who operate from branches, VRMs engage clients remotely, catering to high-net-worth individuals, retail customers, or small businesses. They focus on delivering tailored financial solutions, driving sales, and ensuring customer satisfaction, all while leveraging digital platforms.
Key Stats:
- Demand: Over 20,000 VRM roles expected in private banks by 2025, per industry trends.
- Salary: ₹3.8 LPA–₹6 LPA for freshers, with bonuses up to ₹1 lakh annually.
- Growth: Progression to Senior VRM or Branch Manager in 5–7 years.
Eduooze Skill Institute’s Post Graduate Certificate in Retail Banking (PGCRB) equips freshers with the skills to excel as VRMs through targeted training in digital banking and client management.
Key Responsibilities of a Virtual Relationship Manager
VRMs play a multifaceted role, combining sales, customer service, and financial expertise. Below are their core responsibilities in 2025, tailored for banks like ICICI, HDFC, and Axis.
1. Managing Client Relationships Digitally
- What It Involves: Building and maintaining relationships with clients via video calls, mobile apps, and CRM platforms. VRMs handle portfolios worth ₹5 crore–₹50 crore, depending on the bank.
- Example: An ICICI VRM conducts a Zoom meeting to discuss a client’s investment portfolio, recommending mutual funds via iMobile.
- Tools Used: Video conferencing (Zoom, Microsoft Teams), CRM software, and bank apps (e.g., Axis Mobile).
- Relevance: Ensures personalized service despite physical distance, aligning with digital banking trends.
Eduooze Skill Support: PGCRB’s CRM training and role-plays teach effective client engagement.
2. Selling Financial Products
- What It Involves: Cross-selling products like personal loans, credit cards, mutual funds, and insurance to meet revenue targets (e.g., ₹10 lakh/month in sales).
- Example: An HDFC VRM pitches a ₹5 lakh personal loan at 10.5% interest via WhatsApp, closing the deal through PayZapp.
- Skills Needed: Persuasive communication, product knowledge, and data analysis.
- Relevance: Drives bank revenue, with 30% of private bank income from retail products in 2024.
Eduooze Skill Support: Sales workshops simulate pitching scenarios, boosting target achievement.
3. Providing Financial Advice
- What It Involves: Offering tailored financial solutions, such as investment plans, loan restructuring, or wealth management, based on client needs.
- Example: A Kotak VRM advises a client to invest in a mutual fund with 12% returns, using portfolio analysis tools.
- Skills Needed: Financial analysis, market knowledge, and customer-centricity.
- Relevance: Enhances client trust and retention, critical for banks like ICICI’s wealth management division.
Eduooze Skill Support: PGCRB’s financial advisory modules cover investment products and client profiling.
4. Ensuring KYC and AML Compliance
- What It Involves: Verifying client identities using e-KYC (Aadhaar, PAN) and monitoring transactions for suspicious activity, per RBI’s Anti-Money Laundering (AML) guidelines.
- Example: An Axis VRM flags a ₹10 lakh cash deposit for AML review, using automated tools like Actimize.
- Skills Needed: Knowledge of KYC/AML regulations and attention to detail.
- Relevance: Prevents fraud and ensures compliance, a priority for all banks.
Eduooze Skill Support: PGCRB’s compliance modules teach KYC/AML processes and RBI guidelines.
5. Handling Customer Queries and Complaints
- What It Involves: Resolving issues like loan rejections, transaction disputes, or app navigation via digital channels.
- Example: An IDFC VRM assists a client with a failed UPI transaction via email, achieving 95% satisfaction.
- Skills Needed: Empathy, problem-solving, and digital proficiency.
- Relevance: Maintains customer satisfaction, with 90% of interactions resolved digitally in 2024.
Eduooze Skill Support: Customer service role-plays prepare VRMs for complaint resolution.
6. Driving Digital Banking Adoption
- What It Involves: Encouraging clients to use digital platforms like UPI, mobile apps, and net banking for transactions.
- Example: A Kotak VRM trains a client to use Kotak’s mobile app for bill payments, increasing app usage by 15%.
- Skills Needed: Knowledge of digital tools and client education.
- Relevance: Aligns with India’s digital banking surge (UPI: 100 billion transactions in 2024).
Eduooze Skill Support: Digital banking modules cover platforms like iMobile and PayZapp.
Skills Required to Excel as a Virtual Relationship Manager
To succeed as a VRM in 2025, freshers need a blend of technical, digital, and soft skills:
- Banking Knowledge:
- Terms: KYC, AML, NPAs, repo rate (6.75% in 2025).
- Products: Loans, mutual funds, credit cards.
- Eduooze Skill: PGCRB modules and flashcards cover 20+ banking terms.
- Digital Proficiency:
- Tools: CRM software, Zoom, bank apps (e.g., Axis Mobile).
- Eduooze Skill: Hands-on training with digital banking platforms.
- Sales and Communication:
- Skills: Persuasive pitching, active listening, and clear articulation.
- Eduooze Skill: Sales role-plays and mock interviews.
- Customer Service:
- Skills: Empathy, conflict resolution, and problem-solving.
- Eduooze Skill: Customer service workshops simulate real scenarios.
- Financial Analysis:
- Skills: Portfolio management, investment advisory.
- Eduooze Skill: Financial advisory modules teach market analysis.
Career Prospects and Salary in 2025
- Starting Salary: ₹3.8 LPA–₹6 LPA, with bonuses (10–20% of salary) for meeting sales targets.
- Examples: ICICI VRM (₹5 LPA), HDFC Personal Banker (₹4.5 LPA), Axis VRM (₹4 LPA).
- Growth Path:
- 2–5 Years: Senior VRM (₹6 LPA–₹10 LPA).
- 5–10 Years: Branch Manager (₹12 LPA–₹20 LPA).
- 10+ Years: Regional Manager (₹20 LPA+).
- Demand: High, with private banks hiring 20,000+ VRMs in 2025 to support digital banking.
- Perks: Medical insurance, performance bonuses, and training stipends (e.g., ₹15,000/month in ICICI Manipal).
Eduooze Skill Insight: “Our PGCRB program prepares freshers for VRM roles, ensuring they thrive in the digital banking era,” says Rahul Jain, Director.
Testimonial: “Eduooze’s digital banking training helped me secure an ICICI VRM role at ₹5 LPA!” – Neha R., 2024.
Challenges of Being a Virtual Relationship Manager
- Digital Dependency:
- Challenge: Reliance on stable internet and tech tools.
- Solution: Eduooze Skill’s digital proficiency training ensures comfort with platforms.
- Sales Targets:
- Challenge: Meeting revenue goals (e.g., ₹10 lakh/month).
- Solution: PGCRB’s sales workshops teach effective pitching.
- Client Expectations:
- Challenge: Managing diverse client demands remotely.
- Solution: Customer service role-plays build empathy and solutions.
- Compliance Pressure:
- Challenge: Adhering to KYC/AML regulations.
- Solution: PGCRB’s compliance modules simplify RBI guidelines.
How to Become a Virtual Relationship Manager
- Education:
- Graduate degree (any stream) with 50–55% marks; finance/economics preferred.
- Age: 21–27 years for most VRM roles.
- Certifications:
- Eduooze Skill’s PGCRB: Covers banking, sales, and digital skills.
- JAIIB or NIIT IFBI’s banking diploma for added credibility.
- Apply for Bank Programs:
- ICICI Manipal PO, HDFC Future Bankers, Axis Sales Academy.
- Use bank websites (www.icicibank.com, www.hdfcbank.com) or Eduooze Skill’s job fairs.
- Prepare for Selection:
- Exams: Aptitude tests (quantitative, reasoning, English, banking awareness).
- Interviews: Questions like “How would you sell a mutual fund online?” or “Explain KYC.”
- Eduooze Skill: Offers 1,000+ mock tests and mock interviews.
- Build Digital Skills:
- Learn CRM tools, video conferencing, and bank apps.
- Eduooze Skill: Provides hands-on digital banking training.
Actionable Tip: Enroll in Eduooze Skill’s PGCRB via 9142465110 or www.eduooze.com to start your VRM journey.
Why Choose Eduooze Skill Institute?
Eduooze Skill Institute empowers aspiring VRMs with:
- PGCRB Program: Covers banking knowledge, digital tools, sales, and compliance.
- Mock Tests/Interviews: Simulates ICICI, HDFC, and Axis selection processes.
- Job Fairs: Connects candidates with recruiters, with 7,000+ placements.
- Certifications: PGCRB certificate enhances employability.
- Contact: 9142465110 or www.eduooze.com.
Testimonial: “Eduooze’s CRM training and mock interviews prepared me for HDFC’s VRM role at ₹4.5 LPA!” – Rohan K., 2024.
Conclusion
The Virtual Relationship Manager role in 2025 is a dynamic, high-demand position in private banks like ICICI, HDFC, and Axis, offering salaries of ₹3.8 LPA–₹6 LPA and growth to leadership roles. By managing client relationships, selling products, ensuring compliance, and driving digital adoption, VRMs are at the forefront of banking’s digital era. Eduooze Skill Institute’s PGCRB program, with its tailored training, mock tests, and job fairs, ensures freshers excel in this role. Start your journey today to become a successful VRM.
Call to Action: Launch your VRM career with Eduooze Skill’s PGCRB program! Call 9142465110 or visit www.eduooze.com to enroll and access mock tests, certifications, and job fairs for 2025.