Regions and credit unions earned the highest customer experience scores among banks in the 2014 Temkin Experience Ratings, released earlier today. Regions and credit unions tied with scores of 81%, followed closely by USAA and TD with scores of 80%, and USAA also earned the highest score among credit card issuers with 77%.
[For More on USAA’s Push in Customer Experience, Check Out: USAA's Greg Schwartz Keeps IT's Focus On The Customer Experience]
Overall both the banking and credit card issuing industries improved their scores over last year. The banking industry averaged a 71%, an improvement of 2.4 points, placing 5th out of the 19t industries in the study. Regions had the biggest improvement in its score, gaining 12 points, followed by TD Bank and Wells Fargo, which gained 6 points each over last year. Credit unions also earned the top spot in the survey both 2012 and 2013.
Credit Card issuers had the biggest improvement of any in the study, increasing the average rating for issuers by 4.1 points to 68%. Discover and American Express placed second among issuers behind USAA with scores of 71%.
HSBC earned the lowest customer experience rating (56%) of any bank for the second year in a row. Fifth Third had the biggest decrease in their ranking , dropping 10 points to a rating of 60%, followed by Citi, which dropped 2 points to 64%.
Other top banks that earned “good” ratings of at least 70% included ING Direct (74%), SunTrust Bank (74%), U.S. Bank (73%), PNC(71%), Chase (71%) and Wells Fargo (71%).
Temkin produces the ratings by surveying customers on their experience based on functionality, accessibility and how they feel about their interactions with a company. Scores of 70% or higher are considered good, while 80% or higher is considered excellent.
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Jonathan Camhi has been an associate editor with Bank Systems & Technology since 2012. He previously worked as a freelance journalist in New York City covering politics, health and immigration, and has a master's degree from the City University of New York's Graduate School ... View Full Bio