Comment on Competition and Markets Authority’s latest customer satisfaction in banking survey

Comment on Competition and Markets Authority’s latest customer satisfaction in banking survey

Andrew Stevens

Global Banking and Financial Services Specialist at Quadient

Views 1128

Comment on Competition and Markets Authority’s latest customer satisfaction in banking survey

16.08.2019 12:00 pm

“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.”

Latest blogs

Harshad Borde Transparency Market Research

Financial Crime and Fraud Management Solutions: Technology Remains a Double-edged Sword

FinTech breakthroughs, while they facilitate online financial transactions, are indicating an upsurge in the adoption of next-generation technologies, including artificial intelligence, data science, and machine learning, to fight financial crime Read more »

Shailendra Malik DBS Bank

Let Your Agile Squads Breathe!!!

Most people are other people,Their thoughts are someone else’s opinions,Their lives a mimicry,Their passions a quotation!!!                         -   Oscar Wilde Nothing can sum up social life as beautifully as Oscar while did more than a century Read more »

Jay Ablian Fiserv

Despite Mixed Messages from Consumers, Businesses Shouldn’t Slow Cybersecurity Efforts

Many businesses have increased their investments in cybersecurity and data protection in recent years and, in many ways, it has paid off. Consumers have seen a 25 percent decrease in debit and credit card compromises since 2017, according to a Read more »

n/a n/a

Cryptocurrency And Cybersecurity For Your Business

While there is hardly any denying that cryptocurrencies such as Bitcoin are quite important for businesses as it enhances customer convenience in terms of payments among other benefits, although, many businesses find themselves confronted with Read more »

Andrew Beatty FIS

Top Tech for Mobile Banking? GPS.

We've all been there – wherever there is. Those times we find ourselves away from home, on a business trip, or vacation, or just lost and too proud to ask for directions. We're somewhere we've never been before, looking for a street name or an Read more »

Related Blogs

Claus Christensen Know Your Customer

Is business banking ripe for FinTech disruption?

There are always many reasons one might want to organise a trip to Paris. For the last couple of years, the Paris FinTech Forum has become another one of these reasons. First launched in 2015 and hosted in the charming Palais Brongniart - the former Read more »

Vikas Srivastava Integral

Why increasing cost pressures mean banks need to put their ‘head in the cloud’

It’s true that banks are having to do more with less budget. Recent headlines have demonstrated we’re currently operating in an increasing cost pressured environment. The solution for some banks has been to cut costs through staff reductions – but Read more »

John Phillips Zuora

Subscription Services and the Race Towards the Future of Banking

In the not too distant past, we would sign up for a current account post-school or university and still be carrying around the same worn debit card in our 30s and 40s. With very little differentiation between retail bank offerings combined with Read more »

David Villaseca Oracle

Are Banks really responsible in a digital world? Challenges on United Nations

This week, we held a discussion on Responsible Banking on the 25th United Nations Climate Change Conference (COP25). It connected different experts from Bank of Spain, Santander, etc, with the coordination of CEU. Green and Responsible Banking Read more »

Ian Bradbury Fujitsu

Bank Branch Closures Risk Leaving People Behind

Although we are moving towards a cashless society, and card spending is overtaking cash spending, a rapid move towards digital banking risks leaving people behind. The latest report from Which? highlights this problem, and it’s now businesses’ and Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel