Regions Delivers Top Banking Experience

April 15, 2011 3 Comments

In The 2011 Temkin Experience Ratings, we examined the customer experience across 12 industries. For this post, we will take a closer look at the 16 banks in the ratings.

Banks, as a group, had an average rating of “Okay” and ended up in the middle of the pack; the 5th ranked industry out of 12…

Let’s take closer look at the results for all of the individual banks…

As you can see, Regions is the only bank with a “Good” customer experience rating, but is closely followed by USAA, credit unions (as a group), and TD. At the other end of the spectrum, five banks ended up with “Poor” overall customer experience ratings: HSBC, Citibank, Capital One, Bank Of America, and Citizens.

Let’s take a look at the three components of the Temkin Experience Ratings…

While 10 of the 16 banks crossed the “Good” line for the Functional component of their experience, only the top three made it to that level for the Accessible component.

For more access to the data, visit the Temkin Ratings website.

The bottom line: Banks need to make it easier for customers

You can download a version of this post for printing or sharing.

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About Bruce Temkin, CCXP
I'm an experience (XM) management catalyst; helping organizations improve results by engaging the hearts and minds of their employees, customers, and partners. I enjoy researching and speaking about these topics. I lead the Qualtrics XM Institute, which is the world's best job. We're igniting a global community of XM Professionals who are inspired and empowered to radically improve the human experience. To achieve this goal, my team focuses on thought leadership, training, and community building. My work is driven by a set of fundamental beliefs: 1) Everything starts and ends with human beings, so you need to understand how people think, feel, and behave; 2) XM is a discipline that needs to be woven throughout an organization's entire operating fabric; and 3) Building the XM discipline requires a combination of culture, competency, and technology.

3 Responses to Regions Delivers Top Banking Experience

  1. Alison says:
    April 15, 2011 at 11:09 am

    Thanks for the analysis, Bruce. I hope we’ll see the same breakdown for insurance firms sometime soon.

    Reply
  2. Alison from Bizwiz France says:
    April 18, 2011 at 3:44 am

    Hello Bruce,

    Thank you!
    My comment concerns the Temkin group Insight report 2010 (free download).
    I thought this document was very clear and well-written. It certainly was a good read for me and got my neurones buzzing – so thank you for sharing this on your website.

    I would like to add that I feel a major part generally lacking in the customer experience cyle is the ease with which the customer can give feedback. For me companies should be actively encouraging feedback from their customers. Maybe this is why so many customers don’t give feedback, bercause it is such hard work! Often you have to look for how to leave a positive or neagative comment. Often there is no human mail contact, or you phone a “Customer Service” number where you have to gtive all of your peronal details before they even want to know what you have to say!

    If I may add a suggestion: If you would like feedback on the documents you publish (e.g. for the great download I had) it could be a good idea to leave an invitation for action at the end of the document along with your mail address (also a good sales ploy. On you blog I had trouble finding a means of contact.

    Alison from Bizwiz France

    Reply

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