Items tagged "loyalty"
Read about our views on marketplace changes as well as updates on our research and event programmes.
From Monday 16 September UK banks will offer their customers a guaranteed ability to switch current accounts in a simple, reliable, hassle free way. The product of two years’ work by the payment industry’s regulator the Payments Council, there are high hopes the new switching guarantee will force banks to be more competitive and improve their customer service.
This comment from Metro Bank chief executive Craig Donaldson is typical. “At the moment far too many consumers put up with poor service from their bank simply because they believe switching to be too complicated,” he says. “Increased competition forces…
We’ve completed our major research project looking at customer loyalty in retail banking. The report, ‘What are banks for? Customer Loyalty in Retail Banking’ is compelling reading for anyone who wants to understand what customer loyalty means for banks in today’s digital economy.
We knew the research subject was ‘of the moment’ when we gained immediate interest and involvement from senior directors in the UK’s big four retailing banking groups, both big and small building societies, new market entrants and pure play internet banks.
The findings are significant for an industry under pressure to improve customer focus and agility:…