JD Power – a US marketing information company – carried out a survey about bank customer satisfaction and the numbers show that digital-only services are those that are the least appreciated by respondents.
Indeed, out of a score of 1000, mixed services (digital and branch services) are those that scored the highest (823). Satisfaction of people strictly using bank branches scored 804. The lowest score (791) goes to digital-only customers who find communication and advice via digital platforms below expectations; are unsatisfied with the products and fees; and are disappointed about account-opening procedures.
Contrary to what one might think, customers with the highest expectations in regards to digital services are Millennials and Generation X users. In fact, although digital services provide speed and efficiency for certain activities, they don’t cover more complex demands, quickly leading to customer frustration.
This has already caused some banks, like Bank of America and Chase, to announce the opening of hundreds of bank branches – counter to a more global trend of bank branch closures.
In the US, 28% of retail customers have access to digital-only services – and they are also the least satisfied.
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