Credit Unions and PNC Are Top Banks in Customer Experience Ratings, According to New Temkin Group Research

WABAN, Mass., Feb. 23, 2012 /PRNewswire/ -- A new research report published by Temkin Group, 2012 Temkin Experience Ratings, rates the customer experience of 206 large companies across 18 industries. This is the second year that Temkin Group has released these ratings.

The research, which is based on a survey of 10,000 U.S. consumers in January 2012, includes 16 banks. Credit Unions, which are ranked third across all industries, is the only bank to receive an excellent rating. Four banks earned "good" ratings: PNC, TD Bank, USAA, and ING Direct. Eight banks received "okay" ratings while three banks received "poor" ratings: Citibank, Bank of America, and HSBC.

The banking industry received the fifth highest average customer experience rating, falling behind grocery chains, fast food restaurants, retailers, and parcel delivery services. Compared with 2011, banks increased their ratings by three percentage points, an improvement that was only outdone by insurance carriers and personal computer makers. Thirteen of the 16 banks improved their customer experience ratings between 2011 and 2012.

"Banks made some strides to improve customer experience this past year, but some big banks continue to fall behind," states Bruce Temkin, author of the report and Managing Partner of Temkin Group.

The Temkin Experience Ratings evaluates three dimensions of customer experience:

• Functional: Does the company meet consumers' needs?
• Accessible: How easy is it for consumers to do what they are trying to do?
• Emotional: How do consumers feel about their interactions with companies?

Other highlights from the research include:

• Credit Unions and PNC received the highest Functional ratings, while Citibank and Regions received the lowest.
• Credit Unions and PNC received the highest Accessible ratings, while Citibank, Bank of America, and Regions received the lowest.
• Credit Unions and PNC received the highest Emotional ratings, while Citibank and Bank of America received the lowest.
• Credit Unions and PNC experienced double-digit increases in their ratings between 2011 and 2012 while ING Direct, TB Bank, and Fifth Third improved by more than five percentage points.
• Only Regions experienced a double-digit decline in its ratings between 2011 and 2012 and Citibank is the only other bank that declined by more than five percentage points.

This report can be accessed from the Temkin Group website at http://www.temkingroup.com or from the blog, Customer Experience Matters, at http://experiencematters.wordpress.com. The data can be accessed from the Temkin Ratings website, http://www.temkinratings.com.

For more information about Temkin Group, visit http://www.temkingroup.com.

About the author, Bruce Temkin
Bruce is widely recognized as a customer experience thought leader and is Customer Experience Transformist and Managing Partner of the Temkin Group. He is also the author of a very popular blog, Customer Experience Matters. Prior to forming Temkin Group, he was a VP at Forrester Research for 12 years. Bruce is a highly demanded speaker who consistently receives high marks for his content-rich, entertaining keynote addresses. He is also the co-founder and Chair of the Customer Experience Professionals Association (CXPA.org), a global non-profit organization dedicated to the advancement of customer experience management.

About Temkin Group
Temkin Group is a leading customer experience research and consulting firm with one simple goal for its clients: increase customer loyalty by becoming more customer-centric. The company combines customer experience thought leadership with a deep understanding of the dynamics of large organizations to help senior executives accelerate their customer experience results. For more information, contact Bruce Temkin at 617-916-2075 or [email protected].

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE Temkin Group

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