The confusing state of bank customer service

Seems like everywhere you turn, someone is bashing financial institutions for something. They’re not innovative enough, their customer service is lousy, or they’re the scourge of the earth and the single root cause of all of society’s ills (OK, so that’s just one man’s views).

I heard about a study that fintech vendor Pega conducted from tweets suggesting FI’s customer service capabilities were lacking and in need of improvement.

After seeing the results, I didn’t come to the same conclusion. In fact–based on the data–I concluded that not only is bank customer service just fine, but that banks have no need to innovate, and no reason to mention the word “omnichannel” ever again.

What Service Factors are Important to Banking Consumers?

According to the study, the three most important service factors are 1) Listening to and understanding my needs; 2) A representative with a courteous, patient and/or friendly attitude; and 3) Responding to inquiries in a timely/responsive fashion.

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