SOURCE: Credio

Findthebest.com

June 11, 2015 09:00 ET

BB&T Receives Highest Rank in Credio's Retail Banking Satisfaction Survey

SANTA BARBARA, CA--(Marketwired - June 11, 2015) - Branch Banking and Trust Company (BB&T) received a Net Promoter Score® (NPS) of 18, the highest NPS amongst U.S. retail banks according to the 2015 Credio Banking Satisfaction Report. The NPS is a measure of overall customer satisfaction score and factors in the percentage of customers that promote a bank to friends or family (promoters) versus those customers that harm a bank's reputation (detractors).

In addition to the NPS, the study measures customer satisfaction in regards to several key factors, including: Customer Service, Account/Service Offerings, Website/Mobile App Quality, Account Fees, and Branch/ATM Locations.

"The survey results highlight the extraordinary value banking customers place on customer service and their bank's ability to meet customer demands," said Will Evans, head of product at Credio. "The regional banking model implemented by the likes of BB&T, PNC, and TD leads to industry-leading customer satisfaction, likely due to the intimate ties these banks share with their customers and surrounding community."

Key Findings:

  • PNC Bank and TD Bank ranked second and third in NPS, with scores of 15 and 10, respectively.
  • Customers between the ages of 30 and 44 are the most likely to switch banks within the next year. This age group tends to be the least satisfied across a number of important satisfaction metrics, including customer service and account/service offerings.
  • Promoters use a bank's online and mobile tools more frequently than detractors. Over 31% of promoters use a bank's website daily, compared to only 21% of detractors. Over 13% of promoters use a bank's mobile app daily, compared to only 8% of detractors.
  • Dissatisfaction with customer service is the strongest predictor of a customer's willingness to switch banks. With an inverse correlation of -.486 between customer service satisfaction and NPS, customer service has a greater influence on a customer's departure than any other feature.

The 2015 U.S. Banking Satisfaction Survey includes responses from more than 3,000 banking customers and was fielded in January 2015. The full report can be found at: http://banks.credio.com/stories/4366/2015-u-s-banking-satisfaction-report

* USAA received the highest overall satisfaction ratings, but due to their membership requirements, they were not included in the final rankings.

Credio.com is a data-driven personal finance website that aims to improve people's financial well-being by providing objective online product and service comparisons. The site is powered by FindTheBest, a technology company focused on structuring and visualizing the world's data. More information is available at www.credio.com.

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