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Financial Services

  US, UK & Australia Financial Services

  • Sector average score 59 Financial Services
  • Knowledge & Expertise 62
  • Style of Communication 62
  • Speed of Resolving Problems 61
  • Valuing the Customer 63

A notable shift in the rankings this month as UK Financial institutions best those in the US for the first time ever recorded by the CEI. A particularly strong performance from Nationwide, which tops the UK charts with the highest score across in this industry across all territories, has given the edge. 

 
Rank
Country
Effort
i
  Effort

The Overall Effort Score is calculated using modelling on the results recorded in each of the four pillars

  Score breakdown Hide
Knowledge
&
Expertise
i
  Knowledge & Expertise

Having knowledgable customer service agents that can clearly explain details to customers impacts the score in the ‘Knowledge & Expertise’ pillar

Style
of
Communication
i
  Style of Communication

How polite customer service staff are and whether they can communicate in a customers’ chosen language contribute to ‘Style of Communication’ 

Speed
of
Resolving
Problems
i
  Speed of Resolving Problems

A quick resolution and short holding times ensure a strong ‘Speed Solving the Problem’ score

Valuing
the
Customer
i
  Valuing the Customer

Companies that make their customers feel valued and understand their needs perform well in the ‘Understanding & Valuing the Customer’ pillar

NPS
i
  NPS

NPS scores can be used to compare and contrast with Effort for an additional perspective

1
UK UK
59 UK
   
Knowledge & Expertise 62
Style of Communication 65
Speed of Resolving Problems 62
Valuing the Customer 63
Avg. NPS -32
2
US US
61 US
   
Knowledge & Expertise 65
Style of Communication 64
Speed of Resolving Problems 64
Valuing the Customer 65
Avg. NPS -4
3
AU AU
57 AU
   
Knowledge & Expertise 59
Style of Communication 58
Speed of Resolving Problems 58
Valuing the Customer 60
Avg. NPS -22
US Top Brands
  1. Chase Bank 67 Chase Bank
  2. US Bank 65 US Bank
  3. USAA Bank 65 USAA Bank
  4. More
UK Top Brands
  1. Nationwide 68 Nationwide
  2. First Direct 66 First Direct
  3. Lloyds Bank (part of LBG) 65 Lloyds Bank (part of LBG)
  4. More
Australia Top Brands
  1. Bendigo Bank 67 Bendigo Bank
  2. Bank of Queensland 64 Bank of Queensland
  3. AMP Bank 60 AMP Bank
  4. More
Last updated: Oct 2024 Next update: Jan 2025

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Last updated: Oct 2024 Next update: Jan 2025
Image 05

Customer Effort Scores for the quarter are presented in the rankings, ordered by highest Overall Effort Score first, to show which brand scored highest with its customers for that period. Individual brand ratings against the four pillars take us underneath that Overall Effort Score, with brand-specific explanatory analysis from the CEI Editorial team.

You can use the display above to toggle between score, ranking and individual pillars. Clicking 'Performance Tracker'  enables you to analyse the performance over time.

The Customer Effort Index is calculated using a self-referential scale that is recomputed every wave based on what the minimum and maximum values are. This enables us to see how each brand is performing compared to the others within the data set. See About for more on the methodology. 

ContactEngine sponsors the Customer Effort Index

ContactEngine believes that a great customer experience is an effortless one, where life is made as easy as possible for the customer. ContactEngine commissioned the Customer Effort Index to measure how real people perceive the effort it takes to be a customer of some of the leading brands in the world. By enabling a comparison of effort not only within an industry, but across industries, we can identify and learn from the brands who lead on making it easy for their customers to do business with them.

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