GoResponse Telephone Answering Service Staff

Banks failing to improve customer services

Customer or employees care conceptA new report has highlighted that many retail banks in the UK have failed to improve their customer services over the past 12 months, putting institutions at risk of losing consumers in droves. The UK Customer Satisfaction Index (UKCSI) showed that banks are the only sector that has not improved its service ratings since 2015.

For many call centres, the past year has been focussed on offering better consumer care and ensuring clients have everything they demand. However, it appears that telephone answering services in the banking sector have fallen behind, with the overall ranking dropping down the ratings from fourth to seventh. In a list of the top 50 companies for customer satisfaction, just four banks are named. Meanwhile, only two institutions improved their 2015 score by more than two points, and five companies saw their score fall.

The Institute of Customer Service’s Chief Executive, Jo Causon, said that it seemed as though banks were resting on their laurels because they know that customers simply do not change their accounts often. “Aside from public services, banking has the highest percentage of customers who have used the same service for more than 20 years, supporting the CMA’s assertion that the sector suffers from weak competitive pressures,” Ms Causon said.

She added: “I believe the lack of improvement in the customer service offered by banks and building societies is a direct symptom of this complacency.”

Meeting the demands of consumers is essential in the digital world. Failing to address people’s needs could result in a loss of loyalty and customers – even for banks.

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