![]() Capital One ranked highest for a third consecutive year with an overall satisfaction score of 694, on a 1,000-point scale. While rankings tend to be lower for all banking institutions, three are holding onto customer support. “This is a clear warning sign for banks because key metrics like intent to reuse the brand and customer perception of having a relationship with the brand are also in decline, suggesting a future erosion of new business these customers will bring to their banks.” “As a result, we’re seeing young, well-educated, high-income customers driving a steady decrease in customer satisfaction,” McAdam said. Power, says banks appear to be falling short of expectations when it comes to branch service, new customer onboarding and resolving customer complaints. Paul McAdam, senior director of banking services at J.D. The survey found that overall, satisfaction with banks is down four points from 2021 and has fallen nine points since 2020. Power found that overall satisfaction among bank customers is declining, especially among younger consumers.īank customers under age 40 and who have the highest levels of education, highest income growth potential and are arguably the most desirable customer segment in the banking industry, appear to be the least satisfied. Consumers who are dissatisfied with their bank – or who think they could get better service somewhere else – may be more inclined to make a change.īut what determines a better financial institution? In its annual survey, J.D. ![]() Photo (c) WD Stock - Getty ImagesA new year often brings changes, especially when it comes to finances.
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