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Why the banking sector is bad at customer service - comment PDF Print E-mail
Wednesday, 20 January 2016

Mike Davies, VP EMEA GMC, comments on today’s UK Customer Satisfaction Index that reveals banking is the only sector to see customer satisfaction fall: "The Institute of Customer Service’s UKCSI report has highlighted one of the key issues within the banking sector that has led to the fall in customer satisfaction - legacy infrastructure and an unwillingness to change this. While the larger established banks make attempts to patch new customer focused technology onto their older infrastructure, challenger banks are investing in building new systems from the ground up that have this technology integrated from the start.

"Customers are increasingly demanding better customer service from their bank, expecting them to engage in similar ways to their favourite retailers through email, Twitter, through an app and by post. One of the easiest ways to create unhappy customers is when this engagement falls short of expectations and becomes inconsistent. The way HSBC handled its recent service outage is a prime example of what happens when this fails. We can expect these incidents to increase if the underlying issues with its technology is not addressed and the result will be that customer satisfaction continues to fall."
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