Banking 4U
The global financial crisis has reduced consumer's general trust in banks to an all time low. Customers no longer believe marketing campaigns that try to differentiate products as they think that they’re all the same. Also the internet has produced a plethora of rate comparison sites, product comparison sites and blogs recommending one product over another without clear reasoning behind it.
RFi interviews over 40,000 Australians a year specifically on banking products. Since 2008 we have been asking a range of specific questions to enable us to understand exactly what combination of factors produce a banking product that satisfies a customer in every sense so that they continue to use it and also recommend it to family and friends. Combining customer satisfaction, product marketing, advocacy, customer experience and other key factors we have developed a metric that allows customers to decide which product is best based on their own views. As well as allowing banks to better understand how and where to improve their product offering and service proposition, this metric allows customers to identify to other potential customers which product is best in their view. They are ranked by customers for the benefit of customers.
In order to allow time for a product to gain traction but not so long that a stale product can still be living off outdated experiences RFi will produce every 6 months a ranking of the top performers according to its Banking 4U metric across key banking products: transaction accounts, savings accounts, term deposits, credit cards, home loans and personal loans
For further information please contact Alan Shields.
