Rachel Kiernan’s Post

Did you know 60% of bank customers prefer personalized advice, yet many feel their financial institutions are falling short? It's time to bridge the gap and elevate customer satisfaction with tailored experiences! #Banking #Personalization #CustomerExperience"

Congratulations to Capital One for ranking highest in overall customer satisfaction for a fifth consecutive year, according to the J.D. Power 2024 U.S. National Banking Satisfaction Study! Study insights: - Customers of major national banks feel more confident than ever in their bank’s ability to meet their needs and support them during tough times—boosting satisfaction and trust across the board. - Top Performers: For the third year running, Capital One, Chase and TD Bank lead in customer satisfaction. - Overall Improvement: Satisfaction with national banks is on the rise. However, there’s a notable dip when customers rely on self-service tools (like secure messages, websites, or mobile apps) for help or information. More study insights: https://hubs.la/Q02_vRkL0 #JDPowerAwards #Banking #RetailBanking #CapitalOne #ChaseBank #TDBank

How do you drive customer loyalty in banking? 🤔 It’s something of a juggling act, with a mixture of innovative products, rewards and incentives, and strong security standards. 🔒 But there is one area where banks simply cannot drop the ball – customer service experience. 🌟 A strong service experience elicits an emotional response from the customer, securing long-term loyalty as a result. Here’s what you need to know. 👉 https://lnkd.in/d8UGj3dj

Congratulations to Capital One for ranking highest in overall customer satisfaction for a fifth consecutive year, according to the J.D. Power 2024 U.S. National Banking Satisfaction Study! Study insights: - Customers of major national banks feel more confident than ever in their bank’s ability to meet their needs and support them during tough times—boosting satisfaction and trust across the board. - Top Performers: For the third year running, Capital One, Chase and TD Bank lead in customer satisfaction. - Overall Improvement: Satisfaction with national banks is on the rise. However, there’s a notable dip when customers rely on self-service tools (like secure messages, websites, or mobile apps) for help or information. More study insights: https://hubs.la/Q02_v2220 #JDPowerAwards #Banking #RetailBanking #CapitalOne #ChaseBank #TDBank

Is your bank winning your trust and satisfaction? 🏦💳 Discover what really drives customer loyalty in the banking sector. #CustomerLoyalty #BankingIndustry #ServiceQuality 📈🤝 https://lnkd.in/dQj2B6_D

Addressing Customer Attrition in Banking: 🟩🟧🟦 An insigtful article that explores the persistent issue of customer attrition in banking, emphasising the need for a more human-centered approach to retain customers. While balancing inflow and outflow is important, banks often lose business due to a gradual breakdown in relationships, especially when customers seek other providers for services like savings or investments. Life events and large-scale disruptions, such as the pandemic, also affect customer behavior. Trust plays a key role in retention, with unexpected fees being a major driver of customer loss. J.D. Power’s study recommends improving customer trust through personalised advice, problem resolution, and better communication. However, banks often struggle with integrating new technologies and customer relationship management (CRM) systems, hindering retention efforts. As this article suggests that consistent, value-added interactions, both in-person and digital, can help foster loyalty. Banks must prioritise easy, intuitive digital experiences, such as online bill pay and person-to-person payments, to prevent "silent attrition," where customers gradually move assets elsewhere. Additionally, a proactive, personalized retention strategy, supported by effective marketing and CRM, can help banks close the back door on customer departures. #BankingTrends #CustomerRetention #TrustInBanking #DigitalBanking #CustomerExperience #FinancialServices Read the full article: https://lnkd.in/e22nZ-SU

The latest jdpower.com survey highlights the impact of customers receiving financial advice from their bank on their financial activity and satisfaction levels. However less than half (42%) of customer recall receiving financial advice from their bank. There is a clear imperative for banks to improve the frequency, variety, creativity and quality of their retail customer advice. https://lnkd.in/djPBSFEP

One-size-fits-all just isn't working for many customers. Customers still want human attention alongside their digital banking experiences, but a generalized approach won't do. They want face-to-face, personalized advice - and most say they act on it when they receive it. What is the best way your organization can connect with customers seeking direction? Story by The Financial Brand #DigitalBanking #CustomerService https://bit.ly/3WmQkmE

👉 U.S. Bank named #1 in #Customer #Satisfaction for Retail Banking in California for the fourth consecutive year. Customer Satisfaction has been measured by seven dimensions: ✨ trust; ✨ people; ✨ account offerings; ✨ allowing customers to bank how and when they want; ✨ saving time and money; ✨ digital channels; and ✨ resolving problems or complaints. https://lnkd.in/gxsJfvtB

How do your customers feel? 🤔 It turns out that this is one of the most important questions banks need to ask themselves. While the value of the products offered and other hard benefits matter, the choice to remain with a bank or go elsewhere often comes down to emotion. So, what can banks do to improve loyalty and reduce customer churn in banking? 🏦 Read the post for more. 👉 https://lnkd.in/dFhi6W5W