Global Consumer Banking Survey 2012

Foster greater loyalty and satisfaction

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The number of customers who are losing trust in the banking industry far outnumber those who are feeling more confident.

The behaviors and preferences of banking customers worldwide are changing.

Although overall satisfaction remains high, trust levels remain low globally, and customers are demanding more customized attention, products and services from their banks.

Select regional findings from the survey include:

  • Confidence levels fell in all European countries from last year, particularly the countries heavily impacted by the financial crisis.
  • Trust levels improved in all Latin American countries, mainly due to personalized and innovative service offerings.
  • Brazilians demonstrated only a slight increase in trust levels — more than half are unhappy with the quality of their offerings and advice.
  • China’s confidence in banking has recovered over the last year, while the level of confidence in Canada and Japan has remained neutral.

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Customer confidence remains low, with 40% of customers losing trust in the industry — little better than in 2011 (44%).

How can banks rebuild customer confidence?

  • Encourage customer self service. Banks needs to improve the way they provide information and advice to interest and convince self-directed customers, including financial planning tools, ranges of product and pricing bundles.
  • Personalized banking. Customers who report a more tailored experience are often most willing to provide their banks with more frequent updates.
  • Better value and service. Customers are demanding more control of their relationships and will look around for the most attractive fees and rates for the level of service provided.
  • Leverage customer advocacy. Banks should embrace the use of social media as a source of banking information, as views of online communities and affinity groups become more influential.