Financial Services in the UK
After a +3 point growth in its Overall Customer Effort score last quarter, Starling Bank has continued its upwards trajectory with further growth of +2 to 64, which takes it up one place to 4th in the UK financial services rankings.
Starling saw growth across all four pillars, with Valuing the Customer doing especially well with +5 point growth to 66 and 50% saying the way they understood their needs was 'excellent'. Style of Communication, meanwhile, also performed very well with a +4 point growth to 68.
However, in October Starling was embroiled in controversy following a £29 million fine levied by the Financial Conduct Authority (FCA). The fine came from the bank’s failure to uphold adequate financial crime defences, exposing vulnerabilities in its systems. This is a story that might not sit well with its customers whose data sits on these frameworks, so we will see if it has affected the rankings next quarter.
Customer Effort in detail
Style of Communication
68 vs 64 last quarter
56% say the politeness of their customer service agents is 'excellent'
50% rate the ability to communicate with them in their chosen language (other than English) as ‘excellent’
Knowledge and Expertise
64 vs 63 last quarter
51% rate the expertise of the customer service agent as 'excellent'
49% say the way details were clearly explained to them was 'excellent'
48% rate how well the customer service agent understood their particular problem or question as 'excellent'
Understanding & Valuing the Customer
66 vs 61 last quarter
50% say the way they understood their needs was 'excellent'
46% say the range of solutions or options that were suitable was "excellent"
63% say they were 'very satisfied' with the outcome of their communication or contact
Speed Solving the Problem
62 vs 61 last quarter
48% rate how easy it was to find the information they wanted on the website/app as 'excellent'
50% rate how they were able to achieve what they set out to do, or resolve their issue, with the first agent they contacted as "excellent"
