WABAN, Mass. Banks may get knocked for their service, but the industry as a whole continues to be rated higher than many other providers even as one person described service levels at banks as “mediocre.”
In a new survey and analysis released by Temkin Group that included 16 banks as part of a customer service survey of 235 companies, 12 of the banks scored at or above 50%, which essentially is the middle of the rankings. Bruce Temkin, managing partner of the company, said banks, “were actually among the higher-performing industries in the survey. But most were still in the mediocre range for customer service.”
The highest rated financial institution in the survey of 10,000 consumers was a longtime high-performer, USAA, which beat the next highest-ranked bank, U.S. Bancorp, by 13 percentage points. Most of banks in the survey including Chase, Fifth Third, SunTrust, PNC and Citigroup fell somewhere in the middle of the pack, scoring between 50% and 56% in customer service satisfaction.
Temkin said most banks' customer service problems come down to byzantine products and processes.
Banks scoring below 50% including Wells Fargo, Capital One, BofA and HSBC.
