Despite maintaining its Overall Effort Score of 58, the Commonwealth Bank of Australia has increased to second place in the Australian Financial Services rankings.
It scored lower in three of the four pillars in comparison to the previous quarter with its Speed of Resolving Problems, Style of Communication and Valuing the Customer each dropping -1 point compared to last wave.
When asked if they were ‘very satisfied’ with the outcome of their communication or contact, 11% fewer customers gave them this score than last wave, something the bank will likely look to rectify for next quarter.
This could also worsened by the latest news surrounding the bank whereby The Market Watchdog said that more than $28 million will be refunded after major banks - Commonwealth Bank of Australia and ANZ were also included - were found to have overcharged low-income Australians who should have had low-fee accounts.
Its Knowledge and Expertise pillar scored the same as last time, at 60.