Moments of Truth in Retail Banking Study
Every point of engagement that retail banks have with their customers serves as a ‘moment of truth’ that puts the client relationship to the ultimate test. But banks are missing key opportunities to provide better customer service to meet rapidly changing demands of their clients. Failure to meet these rising standards at every turn can cause customer churn rates to rise and revenues to fall.
According to our survey results, nearly one in four consumers would start looking for a new bank if they received poor customer service.