Recently, customer experience research and consulting firm The Temkin Group polled 10,000 U.S. consumers to gauge customer experience trends in the banking industry. Overall, the banking sector is making strides in improving customer experience, the poll found, with USAA and credit unions leading the way. Here, we look at some of the more notable findings from the report.
1. Credit Unions Rule
Overall, credit unions as a group took first place in the industry for the second straight year with a positive rating of 79% (individual credit unions were not ranked, just as an entire group). USAA earned the second spot with a rating of 78% followed by ING Direct and TD Bank, which also placed favorably.
2. Big Movers
Both Regions and Citibank saw their customer experience ratings improve dramatically over the past year. Regions improved 10 percentage points from 2012, while Citi saw a jump of 15 percentage points, which represented the largest improvement by any company across all industries, according to Temkin.
3. Overall Improvement
As mentioned, the banking industry in general has seen an uptick in customer experience ratings, according to Temkin. In fact, the industry has been steadily improving over the last three years, from an average Temkin Experience Rating of 62% in 2011 to 68.6% this year. Banks also made the largest improvement of any industry between 2012 and 2013, gaining 3.4 percentage points.
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Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio