Jennifer White’s Post

Part 2. The quality of service in a bank is crucial for customer satisfaction. Several components contribute to this, and they require careful consideration. 1. Turnaround time: Customers expect efficient service. Checking the average turnaround time for various transactions such as account opening, loan approval, or issue resolution is essential. This data provides insights into the bank's operational efficiency and can help identify areas for improvement. 2. Competitive turnaround time: Benchmarking the bank's turnaround time against competitors is crucial. This analysis helps in understanding whether the bank is keeping up with industry standards and meeting customer expectations. It also provides insights into areas where the bank may be lagging behind and needs to catch up to remain competitive in the market. 3. System capabilities: Assessing the bank's technological infrastructure is vital. This includes evaluating the reliability and user-friendliness of digital banking platforms, ATM networks, and other technological resources. A robust and efficient system enhances the overall customer experience and operational efficiency. 4. Staff capabilities: The bank's frontline staff play a significant role in delivering quality service. Assessing their knowledge, communication skills, problem-solving abilities, and customer-centric approach is crucial. Providing regular training and development opportunities to staff can further enhance their capabilities and contribute to improved service delivery. Ensuring excellence in these components is fundamental to delivering high-quality service in the banking sector, leading to enhanced customer satisfaction and loyalty. #serviceexcellence #bankingindustry

New Post: Maine bank tops J.D. Power customer satisfaction rankings again, BoA comes up last -For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link

In the J.D. Power 2024 U.S. Retail Banking Satisfaction Study, we uncover a stark reality: trust in U.S. retail banks is on a significant decline. Despite stable customer satisfaction scores, a concerning 13% of customers are contemplating a switch in the next year. The culprits? Unexpected fees, poor service and negative press. 🔍 Key highlights: - Customer satisfaction remains steady, but trust falls sharply. - 8% of customers have already switched banks, up from 5% in 2018. - High fees and poor service experiences are major factors influencing the decision to switch. This study sheds light on the importance of fundamental customer service principles in maintaining trust and loyalty in the banking sector. 👉 Want to explore the findings and see how banks stacks up? Read the full release here: https://hubs.la/Q02r6gMF0 #Banking #CustomerSatisfaction #RetailBanking

In the J.D. Power 2024 U.S. Retail Banking Satisfaction Study, we uncover a stark reality: trust in U.S. retail banks is on a significant decline. Despite stable customer satisfaction scores, a concerning 13% of customers are contemplating a switch in the next year. The culprits? Unexpected fees, poor service and negative press. 🔍 Key highlights: - Customer satisfaction remains steady, but trust falls sharply. - 8% of customers have already switched banks, up from 5% in 2018. - High fees and poor service experiences are major factors influencing the decision to switch. This study sheds light on the importance of fundamental customer service principles in maintaining trust and loyalty in the banking sector. 👉 Want to explore the findings and see how banks stacks up? Read the full release here: https://hubs.la/Q02r66-W0 #Banking #CustomerSatisfaction #RetailBanking

New Post: Maine bank tops J.D. Power customer satisfaction rankings again, BoA comes up last -For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link

New Post: Maine bank tops J.D. Power customer satisfaction rankings again, BoA comes up last -For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link

72% of banking customer do not think their bank is proactive enough. Our recent survey reveals a critical gap between customers' desire for proactive service and actual proactivity delivered. Although most customers (69%) are open to proactive contact from their banks on a range of topics — from complex transactions like investments to simple check-ins after periods of inactivity — 72% of customers feel their banks fall short in this area. This disconnect calls for action to realign communication and service delivery strategies to build stronger customer relationships. Implement Consulting Group’s recent Retail Banking Survey Report gathered insights from over 1,000 retail banking customers in Sweden to identify and understand key drivers of customer loyalty and satisfaction. The survey highlights ‘Proactivity’ as one of five key topics. 𝗪𝗮𝗻𝘁 𝘁𝗼 𝗸𝗻𝗼𝘄 𝗺𝗼𝗿𝗲? Reach out to get deeper insights from the report, and discuss the implications on your business. DM me here at LinkedIn or send an email [email protected] #CustomerExperience #BankingTrends #CustomerService #CustomerInsights

New Post: Maine bank tops J.D. Power customer satisfaction rankings again, BoA comes up last -For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link For the seventh consecutive year, Maine-based Bangor Savings took the top spot in New England on a national retail banking satisfaction survey. Source link

Retail banking is an intensely competitive landscape, where Financial Institutions contend for the loyalty and satisfaction of their customers. In such a landscape, strong customer relationships are crucial. To address this, we introduced the Customer Engagement Score (CES) metric, which quantifies the quality of interactions between a Mutual Bank and its customers. CES provides insights that can help your organisation enhance services, deepen connections, and secure customer loyalty. #CustomerEngagementScore #RetailBanking #Finance #Metrics #MarketingAutomation #Data #MutualBanks #CustomerLoyalty

📊 Unlocking Success: Top 10 KPIs for Banking Call Centers 🏦📞 In the competitive landscape of the banking industry, exceptional customer service is non-negotiable. Call centers are the heartbeat of this service, ensuring smooth interactions and problem resolution. But how can banks measure and optimize their call center performance effectively? Here are the top 10 Key Performance Indicators (KPIs) to track: Average Handling Time (AHT): AHT measures the average time an agent takes to handle a customer call from start to finish. Streamlining this metric improves efficiency. First Call Resolution (FCR): FCR indicates the percentage of issues resolved during the initial contact. High FCR rates reduce customer frustration and operational costs. Customer Satisfaction (CSAT): CSAT surveys gauge customer contentment with the service. Happy customers are more likely to remain loyal. Net Promoter Score (NPS): NPS measures customer loyalty and willingness to recommend the bank. It's a reflection of overall customer satisfaction. Service Level (SL): SL measures the percentage of calls answered within a specific timeframe. Maintaining SL ensures customers aren't kept waiting. Abandonment Rate: This KPI reveals how often customers hang up before reaching an agent. High abandonment rates may signal understaffing or service issues. Agent Utilization: It assesses how efficiently agents are utilized during their shifts. Proper scheduling can optimize agent productivity. Quality Assurance (QA) Score: QA scores assess agent performance in delivering consistent and high-quality service. Regular feedback and coaching are essential here. Revenue Per Call (RPC): RPC measures the average revenue generated per customer call. It's a valuable metric for upselling and cross-selling opportunities. Cost Per Call (CPC): CPC calculates the average cost incurred per call. Reducing this cost while maintaining service quality can boost profitability. 🚀 Banking call centers that actively monitor and improve these KPIs can deliver superior customer experiences, enhance operational efficiency, and ultimately drive growth. 💬 What KPIs do you find most crucial in the banking call center environment? Are there any specific strategies or tools you use to optimize performance? Share your insights in the comments! #Banking #CallCenter #KPIs #CustomerService #PerformanceMetrics #BankingIndustry #CustomerExperience #OperationalEfficiency