23 Apr Customer Experience Levels in Banking Are Stagnating
Key findings
The World Retail Banking Report 2015 by Capgemini and Efma finds customer experience levels are stagnating as non-bank players with their agile and innovative value propositions make it difficult for banks to keep up with rising expectations around personalized, engaging and seamless customer experiences. The report draws on one of the industry’s largest customer experience surveys including responses from over 16,000 customers across 32 countries as well as in-depth executive interviews.
Key findings from this year’s report:
- Global customer experience levels have stagnated. Customers likely to leave their bank in the next six months increased to over 15% in some regions.
- Gen Y continues to report lower positive customer experience levels versus other age groups, underscoring banks’ challenge to meet Gen Y’s expectations. Less than 50% of Gen Y customers globally are likely to remain with their primary bank in the next six months.
- Banks still have work to do in transitioning customers from branches to digital channels. Customers perceive the branch as offering better service than the internet for both complex and simple services.
- The competitive threat to banks is accelerating due to the bank’s inability to quickly adapt and innovate while burdened with legacy infrastructures and the introduction of agile and digitally-savvy non-traditional players and new entrants such as Apple Pay or crowdfunding sites.
Read more: Capgemini
Visit their interactive website for a full picture of the report data and trends.
