The American Customer Satisfaction Index (ACSI), which measures the satisfaction of consumers with the quality of products and services offered by companies across a variety of industries, released a report that suggests digital transformation is helping financial services companies increase customer satisfaction.
The ACSI report, which is based on 17,861 customer surveys collected between October 1, 2016, and September 16, 2017, indicates that investments in technology could be the main driver of better customer experience. Improvements and investments in technologies, such as online and mobile banking, peer-to-peer payments services, and ATMs, have been key to customer growth and satisfaction.
Good UX Means Good Business
In a world where technology is rapidly advancing and user expectations are rising, it’s no longer enough to have an average user experience; to delight your users and surpass your competition you must strive for the exceptional.
According to the report, this is the second consecutive year of improvement for the overall financial services sector, which includes banks, credit unions, health insurance, property and casualty insurance, life insurance, and internet investment services.
Among banks, regional and community banks have the highest customer satisfaction score (81/100). Super regional banks (79/100) and national banks (78/100) lag behind. Credit unions outperform the rest of the group, with a score of 82/100.
Property and casualty insurance companies have a score of 82/100, a 2.6% improvement than in 2016.
Life insurance companies have a score of 78/100, a 1.3% dip from 2016.
At Perficient, we’re helping companies do incredible things when it comes to enhancing the customer experience. Mobile apps, websites, calculators, portals, and much more. If you’re a financial services company, reach out to learn about how we can help.