Regions and Credit Unions Lead Banking Industry in 2014 Temkin Experience Ratings
March 24, 2014 Leave a comment
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.
- 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:
To see all of the Temkin Ratings (Experience, Trust, Forgiveness, Customer Service, and Web Experience), visit the Temkin Ratings website