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.

Download entire dataset for $395

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

Download entire dataset for $395

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'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 leading-edge XM 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.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.