Banking Industry Shows Steady Improvement in Customer Experience With Credit Unions and USAA Leading the Charge, Reports New Temkin Group Research Study.
Third Annual Temkin Experience Ratings Evaluates 246 Companies Across
WABAN, Mass., March 26, 2013 /PRNewswire/ — Based on a study of
10,000 U.S consumers, credit unions and USAA earned the top spots in the
banking sector of the 2013 Temkin Experience Ratings. At the other end
of the spectrum,
HSBC Humane Society of Bay County
and Capital One were the lowest-rated banks. The
banking industry earned the fifth highest average rating out of 19
“Credit unions and USAA continue to lead the banking industry
in customer experience, but the entire sector is making great
progress,” states Bruce Temkin, managing partner of Temkin
The Temkin Experience Ratings evaluates three areas of customer
experience: functional(can customers do what they want to do),
accessible(how easy it is to work with the company), and emotional(how
consumers feel about their interactions).
The ratings include 16 banks:
Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world.
, Capital One , Chase
, Citibank , Citizens , credit unions , Fifth Third , HSBC ,
Here are some additional highlights from the ratings:
* The banking industry has been steadily improving over the last
three years, from an average Temkin Experience Rating of 62.0% in 2011
to 68.6% this year. Banks also made the largest improvement of any
industry between 2012 and 2013, gaining 3.4 percentage points.
* Credit unions take first place in the industry for the second
straight year with a rating of 79%. USAA earned the second spot with a
rating of 78% followed by ING Direct and TD Bank that tied for third
place with ratings of 74%.
* The lowest-ranked bank is HSBC , earning a score of 57%. It also
earned the lowest functional, accessible, and emotional ratings. The two
next lowest banks are Capital One (62%) and Bank of America (63%).
* Credit unions lead in the functional and accessible components
while USAA leads in the emotional component.
* Citibank improved by 15 percentage points between 2012 and 2013.
This gain represents the largest improvement by any company across all
* Regions also had a significant improvement of 10 percentage points
over the last year.
* PNC had the worst decline from 2012 to 2013, experiencing a loss
of six percentage points. HSBC was the only other bank with a ratings
drop since last year.
The 2013 Temkin Experience Ratings along with other ratings can be
accessed at the Temkin Ratings website, www.TemkinRatings.com.
The report “2013 Temkin Experience Ratings” can be
downloaded for free from the Customer Experience Matters[sup.] blog, at
ExperienceMatters.wordpress.com as well as from the Temkin Group
About Temkin Group: Temkin Group is widely recognized as a leading
customer experience research and
. Many of the
world’s largest brands rely on its insights and advice to steer
their transformational journeys. Temkin Group combines customer
experience thought leadership with a deep understanding of the dynamics
of organizations to help accelerate results. Rather than layering on
cosmetic changes, Temkin Group helps companies embed practices within
their culture by building four critical competencies:
1. Having a purpose; intentional:
2. Having or manifesting purpose; determined:
Leadership, Employee Engagement, Compelling Brand Values, and Customer
Connectedness. The firm’s ongoing research identifies leading and
emerging best practices across a wide range of activities for engaging
the hearts and minds of customers, employees, and partners. For more
information, contact Bruce Temkin at 617-916-2075 or send an email.
About Bruce Temkin: Bruce Temkin is widely recognized as a customer
experience thought leader and is Customer Experience Transformist and
Managing Partner of Temkin Group . He is also the author of a very
popular blog, Customer Experience
Matters(ExperienceMatters.wordpress.com). Prior to forming Temkin Group,
he was a VP at
for 12 years. Bruce is a highly
demanded speaker who consistently receives high marks for his
content-rich, entertaining keynote addresses. He is also the co-founder
and Chair of the Customer Experience Professionals Association
(CXPA.org), a global non-profit organization dedicated to the
advancement of customer experience management.
Customer experience matters is a registered trademark of Temkin
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SOURCE Temkin Group