Fewer would recommend bank to friend
Tuesday 31 May 2011
In a further blow to banks struggling as hard to rebuild their public reputation as their private capital, a survey of their customers today shows increasing dissatisfaction with the service they receive.
Leading consultancy firm Accenture carried out a survey of current account customers at the end of last year and again this spring. The survey discovered that the banks' relationships with their customers are "under increasing pressure several years after the financial crisis began – with loyalty, satisfaction levels and behavioural patterns posing new challenges".
In particular, Accenture found that the number of British high street bank customers likely to purchase their next financial product from their current provider declined from 66 per cent to 46 per cent; and those who had actually purchased new products from their bank within a 12-month period fell from 29 per cent to 22 per cent; and the number of British customers declaring themselves satisfied with their high street bank declined from 84 per cent to 73 per cent.
The number of respondents who would recommend their provider to family and friends fell from 64 per cent to 58 per cent. The complaints ratio rose from 14 per cent to 17 per cent, and one bank received complaints from nearly one in three customers over a 12-month period.
"These results provide further evidence that even several years since the financial crisis hit, the relationship between banks and their customers continues to decline," said Peter Kirk, senior executive in Accenture's financial services practice and author of the research.
The survey suggests that banks have a problem with their newest customers. For 18- to 24-year-olds – are 50 per cent more likely than others to move to another bank, though this may merely reflect the rising financial pressures from unemployment and student finance in this age group.
- 1 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 2 The confessions of men who ordered mail-order brides
- 3 UK weather: Britain braced for snow as arctic air mass moves in
- 4 Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
- 5 'Isis' schoolgirls: Missing British teenager tweets picture of her Syrian takeaway
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
UK weather: Britain braced for snow as arctic air mass moves in
Power of Nepal earthquake was equivalent to 20 huge atomic bombs
Nepal earthquake video: Terrifying footage shows moment avalanche hit Everest Base Camp
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£25 - 30k: Guru Careers: We are seeking an Application Support Analyst / 1st L...
£45K - £55K (DOE) + Benefits: Guru Careers: We are seeking a full stack .NET D...