Banks Set the Customer Satisfaction Standard for Online Financial Services.Credit Card and Investment Websites Merely Average, According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Study by ForeSee Results and Forbes.com ANN ARBOR Ann Arbor, city (1990 pop. 109,592), seat of Washtenaw co., S Mich., on the Huron River; inc. 1851. It is a research and educational center, with a large number of government and industrial research and development firms, many in high-technology fields such as , Mich. -- Customer satisfaction with online banking far surpasses other online financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. like credit cards and investment, according to a new study conducted by ForeSee Results and Forbes.com. According to the 2008 ForeSee Results/Forbes.com Online Financial Services Study, which employs the methodology of the University of Michigan's American Customer Satisfaction Index The American Customer Satisfaction Index (ACSI) is a leading indicator of consumer behavior, measuring the satisfaction of consumers across the U.S. economy. The ACSI interviews approximately 80,000 Americans annually and asks about their satisfaction with the goods and (ACSI ACSI Association of Christian Schools International ACSI American Customer Satisfaction Index ACSI Association Canadienne des Sciences de l'Information (French) ACSI American Communications Services, Inc. ), online banking scores 82 on ACSI's 100-point scale. Credit card websites and investment websites both score 75. In banking, the online channel (up 12% from 2003) significantly outperforms overall retail banking in terms of customer satisfaction, which scored 78 when measured by ACSI in 2007. This is the first year the study surveyed credit card and investment website customers. "Online banking is setting the bar for online financial services," said Larry Freed, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ForeSee Results and author of the study. "Improving customer satisfaction is an effective way to move customers to the most cost-efficient channel. It's smart business." Credit cards struggle to move beyond commodity status, and the low score for credit card websites indicates that credit card companies are not maximizing the value of the online channel to overall business operations. Credit card companies do not tend to have strong relationships with their customers, but the study suggests that investments in improving website performance and the site experience would improve loyalty. For investment websites, customers are more likely to use the online channel than any other channel, so it is imperative that the website meet customer needs. Highly satisfied customers are 37% more likely to increase online transactions and 51% more likely to purchase more services than dissatisfied customers, which clearly demonstrates the value of online customer satisfaction. "Financial services firms should resist the temptation to cut investment in the online channel in times of tight money," said Freed. "Our research suggests that, if anything, a commitment to improving satisfaction with the web channel can improve both overall loyalty and the bottom line by moving customers into the most cost-efficient service channel." For a full copy of the 2008 ForeSee Results/Forbes.com Online Financial Services Study, including in-depth commentary of each of the three measured industries, please contact Sarah Allen-Short (sarah.allen-short@foreseeresults.com) or visit the website at www.ForeSeeResults.com. About ForeSee Results As the leader in online customer satisfaction measurement, ForeSee Results captures and analyzes online voice of customer data to help organizations increase sales, loyalty, recommendations and website value. Using the methodology of the University of Michigan's American Customer Satisfaction Index (ACSI), ForeSee Results identifies the improvements to websites and other online initiatives with the greatest ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). . With more than six years of experience measuring online customer satisfaction and benchmarks across dozens of industries, ForeSee Results offers unparalleled expertise in customer satisfaction measurement and management. ForeSee Results works with clients across industries, including: financial services, healthcare, hospitality, manufacturing and government. Some of our financial services clients include: Citi, Quicken Loans, TIAA-CREF TIAA-CREF Teachers Insurance and Annuity Association - College Retirement Equities Fund , CUNA Cuna Chibchan-speaking Indian people who once occupied the central region of what is now Panama and the neighbouring San Blas Islands and who still survive in marginal areas. In the 16th century they lived in federated villages under chiefs who wielded considerable power. Mutual, Patelco Credit Union, Provident Bank, Nationwide Insurance, LowerMyBills and the World Bank. ForeSee Results is headquartered in Ann Arbor, Michigan  “Ann Arbor” redirects here. For other uses, see Ann Arbor (disambiguation). Ann Arbor is a city in the U.S. state of Michigan and the county seat of Washtenaw County. and can be found online at www.ForeSeeResults.com |
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