Tele-Depths / Surveys News 1/7/12

Why banks are still failing to get customer service right?


The latest figures from the National Customer Satisfaction (NCSI-UK) survey show that large banks are losing customers to smaller banks and building societies because the latter have closer relationship with customers and offer more personalized customer service.

This trend was reflected in our recent research that explored and compared the views of UK consumers and business decision makers on customer service. The findings revealed a significant gap between what financial services providers are offering and the service customers actually need, especially when it comes to service personalization. While almost half of the surveyed organizations claimed to offer personalized services, only  4% of consumers said they felt as individuals when contacting their service providers and a mere 2% of them trusted the advice they were given.

The high level of dissatisfaction with customer service could be partially explained with lack of effective software solutions that enable a 360 degree view of the customer and offer more satisfying customer experience.Almost half of the customer-facing staff that we surveyed could not see all accounts and products for customers on a single screen, along with previous communications. Not surprisingly, almost half of the surveyed consumers (42%) felt they knew more about products and services they have with a company than their provider does. Furthermore the results revealed that more than two thirds of organizations could not deliver a consistent customer experience across all communication channels.

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