Why retail banking needs a reputation rehab
Most consumers probably don’t have strong opinions about their banks, since the relationship tends to be more transactional than emotional.
However, in the 2019 Retail Banking Report, a study by Reputation.com that analyzed online data relating to retail banking locations for 23 major U.S. banks, the banking industry was found to be lacking.
The study came up with Reputation Scores, measured on a scale of 100 to 1,000, based on online reviews, accurate listings, social media, search results and customer engagement.
At a high level, retail banking didn’t score as well as other industries with a 341, 174 points lower than retail’s 515. Automotive dealers (570) and property managers (558) fared best of all.
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