Third Annual Temkin Experience Ratings Evaluates 246 Companies Across 19 Industries
Based on a study of 10,000 U.S consumers, credit unions and USAA earned the top spots in the banking sector of the 2013 Temkin Experience Ratings. At the other end of the spectrum, HSBC and Capital One were the lowest-rated banks. The banking industry earned the fifth highest average rating out of 19 industries.
“Credit unions and USAA continue to lead the banking industry in customer experience, but the entire sector is making great progress,” states Bruce Temkin, managing partner of Temkin Group.
The Temkin Experience Ratings evaluates three areas of customer experience: functional (can customers do what they want to do), accessible (how easy it is to work with the company), and emotional (how consumers feel about their interactions).
The ratings include 16 banks: Bank of America, Capital One, Chase, Citibank, Citizens, credit unions, Fifth Third, HSBC, ING Direct, PNC, Regions, SunTrust Bank, TD Bank, U.S. Bank, USAA, and Wells Fargo .
Here are some additional highlights from the ratings:
- The banking industry has been steadily improving over the last three years, from an averageTemkin Experience Rating of 62.0% in 2011 to 68.6% this year. Banks also made the largest improvement of any industry between 2012 and 2013, gaining 3.4 percentage points.
- Credit unions take first place in the industry for the second straight year with a rating of 79%.USAA earned the second spot with a rating of 78% followed by ING Direct and TD Bank that tied for third place with ratings of 74%.
- The lowest-ranked bank is HSBC, earning a score of 57%. It also earned the lowest functional,accessible, and emotional ratings. The two next lowest banks are Capital One (62%) and Bank of America (63%).
- Credit unions lead in the functional and accessible components while USAA leads in theemotional component.
- Citibank improved by 15 percentage points between 2012 and 2013. This gain represents the largest improvement by any company across all industries.
- Regions also had a significant improvement of 10 percentage points over the last year.
- PNC had the worst decline from 2012 to 2013, experiencing a loss of six percentage points. HSBCwas the only other bank with a ratings drop since last year.
The report “2013 Temkin Experience Ratings” can be downloaded for free from the Temkin Group website,www.TemkinGroup.com.
About Temkin Group: Temkin Group is widely recognized as a leading customer experience research and consulting firm. Many of the world’s largest brands rely on its insights and advice to steer their transformational journeys. The 2013 Temkin Experience Ratings along with other ratings can be accessed at the Temkin Ratings website, www.TemkinRatings.com.
Source: PR Newswire