Banks Can't Get No (More) Satisfaction
One analyst is speculating that new research indicates that banks have hit a "customer satisfaction ceiling." The analysis follows the release of the University of Michigan's American Customer Satisfaction Index in which the banking industry had a score of 75-its highest mark since the survey began in 1994-but also the third consecutive year banks have been similarly rated.
One of the researchers involved suggested that banks will simply never score any higher. The industry had similar scores at the survey's outset, but those scores dropped in the latter 1990s before rebounding. The survey is conducted quarterly and gauges expectations, perceived quality and perceived value of companies across various industries on a 100-point scale.