Study: Bank Customer Satisfaction Edges Up

Satisfaction among bank customers moved up slightly from 2017 to 2018, according to CFI Group’s 2018 Bank Satisfaction Barometer released today. The study, based on the feedback of more than 1,000 respondents, gave banks a customer satisfaction score of 80 on a 100-point scale, up one point from the previous year. Banks showed improvement across all but two of the seven driver scores — online banking and mobile applications — and those held steady from the year before, at 87 and 86, respectively.

The study also found that customers do not identify rates and fees as a primary reason for joining a bank. Instead, customers most commonly choose a bank based on convenient location (37 percent), a trusted recommendation (31 percent) and the right products and services (12 percent).