First Direct leads sector in delighting customers

First Direct leads sector in delighting customers

Research carried out by Opinium showed Net Promoter Scores (NPS scores) varied from -46 for the worst performing bank to 54 for the best bank, with First Direct clearly leading, indicating strong customer loyalty.

Of the main banks surveyed, customer views varied widely on a number of different factors relating to service and communication. First Direct and The Co-operative Bank far outperformed the other main banks on all factors, rating the highest for friendly staff, meeting expectations and being able to reach the right person.

On the flip side among the worst performing banks were those with incompetent staff, inability to resolve issues quickly and poor communication.

Worryingly results also showed that ?resolving issues quickly? performed the worst on average across all banks but was also the most important for customers with this being a key ??moment of truth??.

The wide range of customer ratings which the survey highlighted, clearly demonstrates that not all banks are seen the same by their customers and that some are far better at retaining and satisfying customers than others.

Although switching is still relatively low in this category, greater ease of current account switching is set to invigorate competition further, especially with the threat of new emerging bank brands such as M&S Bank, which launched earlier this year. It is therefore even more important than ever that banks focus on embedding customer centric behaviour throughout the organisation to ensure they differentiate themselves and maintain a loyal customer base.

Research based on 2,020 Online Interviews (UK Nat. Rep)
Fieldwork dates: 2nd to 5th November 2012

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