Regions and Credit Unions Lead Banking Industry in 2014 Temkin Experience Ratings

We recently released the 2014 Temkin Experience Ratings that ranks the customer experience of 268 companies across 19 industries based on a survey of 10,000 U.S. consumers.

Regions and credit unions earned an 81% rating—only narrowly overtaking USAA and TD Bank—and tied for 8th place overall out of 268 companies across 19 industries. Credit unions scored the highest rating in both 2012 and 2013, while Regions earned the top spot in 2011. At the other end of the spectrum, HSBC received the lowest rating for any of the 16 banks for the second year in a row, landing in 226th place overall with a 56% rating. Fifth Third also tumbled down the rankings from its “good” rating in 2013 to have the second lowest score in the banking industry.

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BanksA
Here are some additional findings from the banking industry:

  • The ratings of all banks in the 2014 Temkin Experience Ratings are as follows: Credit unions (81%), Regions (81%), USAA (80%), TD Bank (80%), ING Direct (74%), SunTrust Bank (74%), US Bank (73%), PNC (71%), Chase (71%), Wells Fargo (71%), Citizens (67%), Capital One (66%), Citibank (64%), Bank of America (63%), Fifth Third (60%), and HSBC (56%).
  • Regions (+12 points), TD Bank (+6 points), Wells Fargo (+6 points), and Chase (+5 points) improved their ratings the most between 2013 and 2014.
  • Fifth Third (-10 points), Citibank (-2 points), and HSBC (-1 point) were the only banks whose ratings declined between 2013 and 2014.
  • Overall, the banking industry averaged a 71% rating in the 2014 Temkin Experience Ratings and placed 5th out of 19 industries. Banking is also one of the 15 industries to improve its rating over the past year, increasing its average by 2.4 percentage points.

Here are how the companies performed on each of the three components of the Temkin Experience Ratings, compared with the industry average:

BanksB

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To see all of the Temkin Ratings (Experience, Trust, Forgiveness, Customer Service, and Web Experience), visit the Temkin Ratings websiteTemkin Ratings website

Written by 

I am an experience management transformist, helping organizations improve business results by engaging the hearts and minds of their customers, employees, and partners. My "job" is Head of the Qualtrics XM Institute. The Institute is still being established, but our goal is to help organizations around the world thrive by mastering Experience Management (XM). As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. And, as many people know, I love to speak about these topics in almost any forum. Prior to joining Qualtrics, I was managing partner of Temkin Group (leading CX research, advisory, and training firm), co-founder and chair of the Customer Experience Professionals Association (CXPA.org), and a VP at Forrester Research. I'm a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Check out my LinkedIn profile: www.linkedin.com/in/brucetemkin

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