Credit Unions and PNC Deliver Best Customer Experience in Banking
February 23, 2012 6 Comments
This post examines the 16 banks included in the 2012 Temkin Experience Ratings.
Credit unions, which are ranked third across all industries, as a group were the only bank to receive an excellent rating. Four banks earned “good” ratings: PNC, TD Bank, USAA, and ING Direct. Eight banks received “okay” ratings while three banks received “poor” ratings: Citibank, Bank of America, and HSBC.
The banking industry received the fifth highest average customer experience rating, falling behind grocery chains, fast food restaurants, retailers, and parcel delivery services. Compared with 2011, banks increased their ratings by three percentage points, an improvement that was only outdone by insurance carriers and personal computer makers. Thirteen of the 16 banks improved their customer experience ratings between 2011 and 2012.
Credit unions and PNC experienced double-digit increases in their ratings between 2011 and 2012 while ING Direct, TD Bank, and Fifth Third improved by more than five percentage points. Only Regions experienced a double-digit decline in its ratings between 2011 and 2012 and Citibank is the only other bank that declined by more than five percentage points.
Do you want to see the data? Go to the Temkin Ratings website where you can sort through all of the results for free. You can even purchase the underlying data if you want to get more access.
The bottom line: Some big banks are heading in the wrong direction