ANN ARBOR, Mich.-A new study has found a slight decline in levels of consumer satisfaction with online banking, even though the overall score remains high, with CUs strongly outperforming banks overall.
The 2010 Online Financial Services Study from ForeSee Results and Forbes.com found consumer satisfaction fell two points in 2010, from 83 in 2009 to 81, on a 100 point scale). ForeSee results noted, however, that overall satisfaction remains high, as any number above 80 is considered "excellent," and the score remains above that given to offline banking and most other online industries.
The five largest banks scored the lowest in the study, on average, while CUs tend to have the highest satisfaction scores. "However, with all bank categories scoring higher than 80, online banking (81) is clearly providing superior satisfaction to offline banking (75)," the study's authors noted. Other findings:
• 56% more likely to purchase additional products and services and 65% more likely to increase online bill payment.
• 64% more likely to use the website as a primary channel for interacting with the bank/CU.
• 56% more satisfied with their bank overall and 41% more likely to continue to use their bank's services than unsatisfied customers.
