Bank Satisfaction Barometer (BSB) 2018 Year-End Report

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Bank Satisfaction Barometer (BSB) 2018 Year-End Report

happy woman using ATM

happy woman using ATM

The Bank Satisfaction Barometer (BSB) is 80, as measured on a 0-100 scale, up one point from 79 the previous year. The BSB measures the level of satisfaction customers have with retail banks and is calculated based on feedback from a panel of 1,009 respondents who have a current financial relationship with a bank.

Bank satisfaction historically has run several points lower than the Credit Union Satisfaction Index (CUSI). Banks closed the gap to 2 points in 2016, but the gap continues to widen again to 6 points at the end of 2018.

However, when it comes to resolving customer problems, banks may have an advantage. Banks received a score of 82 from their customers for handling customer problems, compared to the 74 credit unions received from their members. The study also showed that while 13% of bank customers have experienced a specific issue or problem with an aspect of their service in the past 60 days, customer satisfaction levels among those bank customers who experienced a problem is just as high as the satisfaction for bank customers who did not experience a problem.

Most driver scores across the retail bank experience moved up from 2017 to 2018. The Branch Experience score improved the most, going up 2 points from last year, with scores for most other drivers up a point. Online Banking and Mobile Applications remain steady at 87 and 86, respectively. These scores are unchanged from last year but remain high, demonstrating the strong customer appreciation for the mobile tools made available by banks.

Download the full report for more information.

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