Welcome to Finextra. We use cookies to help us to deliver our services. We'll assume you're ok with this, but you may change your preferences at our Cookie Centre.
Please read our Privacy Policy.

Accept
Channels
Blog article
See all stories »

Channels

Retail banking

Group

Banking Strategy, Digital and Transformation
External | what does this mean?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.

The CMA’s latest customer satisfaction in banking survey

The Competition and Markets Authority has published its latest personal banking service quality report. The survey asked UK current account holders how likely they would be to recommend their provider to a friend, relative or other business.

When the CMA launched this report six months ago, it seemed a natural fit when most customers rated a bank without any branches, First Direct, as the one they would recommend to their friend for online and mobile banking services. Barclays has now taken the number one spot, however, reflecting the fact that traditional high street banks recognise the importance of online and mobile, and are working to deliver stronger customer experience across all channels. In fact, our own research found that more than a third (38 percent) of people hadn’t visited their local bank for six months or longer, underlining the importance of a strong online and mobile offering.

It was also interesting to see Metro Bank maintain its position as the bank UK customers would be most likely to recommend to a friend both for overall service quality, and for services in branches. This should serve as a reminder that local branches still have an important role to play, and can be a cornerstone of a quality customer service operation. Our own research shows that more than three quarters (79 percent) of consumers are concerned customer service would be damaged by the rise of remote banking; customers haven’t given up on physical banking, and the banks shouldn’t do so either. Whether somebody wants to interact at the counter or through a smartphone, they expect banks to be able to share the right information with them, in a timely manner. Those who fail to provide this will struggle to keep their customers happy.

 

7949

Channels

Retail banking

Group

Banking Strategy, Digital and Transformation
External | what does this mean?
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Report abuse

Comments: (1)

Ambrish Parmar
Blog group founder
Ambrish Parmar - Digital Strategy and Transformation Director - London 04 September, 2019, 20:43Be the first to give this comment the thumbs up 0 likes

Thank you for sharing your post. Ambrish - group founder and owner.

 

Report abuse
Join the discussion
Andrew Stevens

Andrew Stevens

Global banking and financial services specialist

Quadient

Member since

14 Aug 2019

Location

Reading

Blog posts

5

More from Andrew

This post is from a series of posts in the group:

Banking Strategy, Digital and Transformation

Latest thinking in respect to Banking Strategy, Digital and Transformation. Harnessing our collective wisdom to make banking better. Ambrish Parmar

See all
Community
See all Blogs »
 

Why the Future of Open Banking Belongs to Platforms

Jan Thomas

Jan Thomas

Disruption in Retail Banking 

Challenger Banks: inflection point or moment of truth?

Chris Harris

Chris Harris

Banking Strategy, Digital and Transformation 

What, no banks in the future, are you insane?

Christian Ball

Christian Ball

Digital Banking Trends 

Creating Digital Financial Services with the Problem-Solution Cycle

Alex Kreger

Alex Kreger