Spotlight on banks - Customer experience barometer | KPMG | BE

Spotlight on banks

Spotlight on banks - Customer experience barometer

Despite all of the challenges faced by the bank sector over the past six years, customers still report fairly high levels of satisfaction.


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Key findings for banks:

  • In all markets surveyed, banks scored either equal to or higher than the all sector average of 35 percent
  • German and Australian respondents claimed the highest levels of satisfaction with their banking experience, the UK returned the lowest score (35 percent)
  • Overall, customers believe that their banking experience has improved over the past year
  • 46 percent of respondents from China said that their experience had improved
  • Banking customers place highest importance on two attributes: value for money and honest, trustworthy staff
  • Respondents from China were most likely (72 percent) to say that they had recommended their bank brand in the past year versus only 29 percent of respondents from the UK
  • The UK led the rankings for complaints resolved at the first point of contact with a third of respondents claiming swift complaint resolution, US banks trailed the pack with less than 22 percent claiming the same.

“Banks are not nearly as poor at meeting customer expectations as many would think, largely thanks to their continued investment in security, technology and operational excellence.” 

“For many banks, the customer experience is a highly over-subscribed investment request,” noted Daniel Knoll, KPMG in Australia. “It can take significant work to bring the deluge of investment requests down to a realistic and achievable level of demand.”

Customer experience barometer

KPMG’s Customer Experience Barometer is based on an in-depth survey of 5,000 consumers across five major markets and five key service sectors.

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In the current economic and financial climate banks are faced with a multitude of business challenges that need to be addressed.

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