Date Published

01/12/2022

Reading time

2 Mins read

Author

Anna Koritz

Capita’s exclusive research with Ipsos MORI reveals how the financial services sector is shaping up in terms of its customer experience, finding that, while FS companies may be providing more convenience, some may be falling short in terms of sensitivity.

We’ve been working closely with top market research firm Ipsos MORI to create the CX Index, a standardised benchmark for measuring how well industries and organisations are meeting today’s fundamentals of customer experience (CX).

Focused on three key industries (financial services, utilities and telcoms), the Index pulls together research from a range of sources to explore where we need to improve to deliver those customer experiences that are memorable – for the right reasons.

As well as delivering a full report, this research homes in on each of the three sectors more forensically. And, as we reveal in the financial services cut, providers in the sector perform strongly when delivering on ease expectations, with one third of customers agreeing their provider makes things easy. However, more can be done to show empathy towards consumers.

Using a scoring scale that rated 1-10 on degree of agreement, only 20% scored 9 or 10 for feeling that FS companies have their best interests in mind. And the other empathy statements, “They provide great solutions” and “They make me feel valued”, didn’t fare much better, coming in with 22% and 23% scoring 9 or 10 respectively.

The report recommends that providers’ focus be steered toward “making customers feel valued and considering what solutions they can offer that not only make consumers’ lives easier but are also tailored to their specific needs”.

What’s clear from our research with Ipsos MORI is that, while financial services firms may know how to make CX convenient for customers, many have more work to do when it comes to sensitivity. It’s absolutely essential that companies in our sector examine their practices, processes and strategies and put finding solutions to make consumers’ lives easier, their absolute priority.

For more exclusive insights from the research, download the full report, below, or get in touch to understand how your bank compares within the index and what opportunities exist for you.
Download ‘How does your industry measure up on delivering CX?’
Contact us to discover how we can help financial services companies with CX

Written by

Anna Koritz

Anna Koritz

Senior Client Partner, Financial Services, Capita Experience

Anna Koritz is the Senior Client Partner for Banking Clients, a part of our financial services market vertical that focuses on driving better outcomes for our clients. Anna has extensive experience of working with Tier 1 Banks, as a management consultant, as a corporate banker and as a banking client managing and transforming large scale payment operations and treasury services. Anna is passionate about effective deployment of best practise solutions and has an unrelenting customer outcome focus.

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