Welcome to the World Retail Banking Report 2013 from Capgemini and Efma celebrating 10 years of insights into the relationship between customers and their primary bank.
Press Release: Over 50 Percent of Customers at Risk of Leaving Their Bank as Banks Adapt to Provide More Personal Customer Experiences Finds the World Retail Banking Report 2013
According to the Report’s Customer Experience Index, which surveyed over 18,000 bank customers across 35 markets, 10% of retail banking customers are likely to leave their banks in the next six months while an additional 41% say they are unsure if they will stay or go. To re-build the customer-bank relationship, the Report finds banks can become more customer-centric by leveraging vast amounts of customer data and further developing mobile capabilities to create more personal interactions. Other findings:
- Banks must improve customer experience or continue to risk losing customers. With over 50% of customers likely to leave or unsure of staying, banks have work to do on enhancing customer experience to build long-term customer loyalty
- North America continues to lead the Customer Experience Index with Canada (81%), and the United States (80%) in the lead. Find out how your country ranked in this year’s report
- Italy, Saudi Arabia and China reported the largest relative gains in share of customers with positive experience this year. Who do you think will be next?
- Fees, Mobile Capabilities, Quality of Service or Knowledge of Customers? Which is the single most important factor driving customers to switch banks. Find the answer in this year’s report
- Positive customer experience is highly correlated with a bank’s knowledge of their customers’ needs. While 79% of customers with positive experience feel their banks have good knowledge of their needs, only 31% of those having a negative experience felt their banks understand their needs. Does your bank’s priorities match your customers’ priorities? Find out what customers had to say.
Importance of mobility
Mobile banking received the highest increase in importance, relative to all channels, by customers globally in 2013. The quality of a bank’s mobile services could make or break a customer's decision to stay or leave their bank. Here's why mobile is more important now more than ever to banks:
- Mobile banking is emerging as a key tool for banks to drive customer-centricity, enable sales, influence the product-channel mix, and achieve differentiation.
- In developing markets and for younger customers, the quality of mobile service has been found to be a significant influence on the customer’s decision to choose or leave a bank.
- By the end of 2013, there will be more mobile devices than there are people. Social banking services will need to keep up with mobile banking demand.
About the World Retail Banking Report
The World Retail Banking Report provides insights into customer attitudes towards retail banking using a comprehensive Voice of the Customer survey which polled over 18,000 retail banking customers in 35 countries. The survey analyzes customer experiences across 80 banking touchpoints that span the products banks offer, the importance of different channels for obtaining services and the transactions that occur over the lifecycle of a banking relationship, Detailed findings have been supplemented with results collected from 106 in-depth interviews with senior banking executives around the world.
The responses from the global Voice of the Customer survey form the basis for our proprietary Customer Experience Index (CEI) - a ranking at the country level of comprehensive customer experiences. The CEI calculates a customer experience score that can be analyzed across a number of variables. The scores provide insight on how customers perceive the quality of their bank interactions (i.e. positive and negative customer experiences) and can be dissected by product, channel and lifecycle stage, as well as by demographic variables, such as country, age, investable assets and comfort level with technology.