WALTHAM, Mass. - Using the Internet to handle banking tasks tends to increase customers' satisfaction with their banks, according to a study by Gomez Inc., an Internet quality measurement firm.
The study, "Customer Satisfaction in Online Banking: An Exercise in Relationship Management," found that online banking customers have an average satisfaction level of 5.1 on a scale of 1 to 7. Customers older than 55, and those who use the Internet as their primary means of banking, reported higher levels of satisfaction.
"Online bankers who perform the majority of their banking tasks via the Internet are realizing the time savings and at-your-service availability of information that the Internet delivers," said Moriah Campbell-Holt, the Gomez lead research analyst who co-wrote the study.
Gomez also found that 31% of online banking customers who are unsatisfied with their Web experience have considered switching banks because of it. Customers who have stopped getting into their accounts online said they did so primarily because of a lack of benefit, convenience, or interest; concern about Internet security; or unreliable site performance.
A significant lack of awareness exists among customers about their banks' Web offerings, the study found. For example, 50% of the customers who banked online were unsure whether their primary bank offers Internet stop-payment capabilities.