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Customer satisfaction with retail banks increase from past year

Consumer sentiment toward retail banks appears to have reversed its historical downward slide, increasing in 2011 for the first time since 2007, according to the J.D. Power and Associates 2011 U.S. Retail Banking Satisfaction Study released on April 21.

The study, now in its sixth year, finds that retail banking customer satisfaction has improved by four index points from 2010 to an average of 752 (on a 1,000 point scale) in 2011. Satisfaction with most factors of the retail banking experience – account information; facility; problem resolution; and product offerings – has improved from 2010, while satisfaction with account activities has remained stable. In particular, satisfaction with in-person branch interaction, product offerings and account information have all improved significantly. In addition, customer perceptions regarding their bank's brand reputation and image have improved in 2011 for the first time since 2008.
 
You can read the entire report by clicking here.

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