.SERVICES - Banks
Bank customer satisfaction is pinnacle to customer
retention. What steps are you taking to ensure your
customers don’t take their accounts to a competing
institution? Proactive steps will increase customer
satisfaction. Our quality assurance evaluations provide the
opportunity to view your employee-customer interactions
“Customers do more business with banks they like,
and switch from banks that do a poor job satisfying
customers,” said Jeff Taylor, director of the banking
practice at J.D. Power and Associates. “The banks that
are going above and beyond to satisfy their
customers…are the ones who enjoy higher retention and
commitment rates among their customers, which is
essential in the industry’s intense competitive
Transactions have the greatest impact on a
customer’s overall satisfaction with their bank.
Overall, in-person branch transactions are conducted
most frequently and are next highest in satisfaction,
followed by ATM and online transactions.
Problems that focus on “in-person” customer service
issues—such as in-branch and phone customer service—have
the greatest impact on the overall banking experience
The proximity of branches and free services are the
top reasons people initially choose a bank.
Lower fees, better branch access, better service,
and improved Web site access and reliability are the top
reasons customers switch banks.
Omnipresent bank mergers are not contributing to
improved customer satisfaction.
* Some of the abovementioned data was from the
2006 J.D. Power and Associated Retail Banking
Satisfaction Study and American Customer Satisfaction