Scores Decline in VocaLabs Satisfaction Study of Retail Banking.MINNEAPOLIS -- Vocal Laboratories Inc. (www.vocalabs.com) today announced the results of its latest SectorPulse study on the quality of telephone based customer service among six 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. companies for second half of 2006. This study focused on Washington Mutual “WaMu” redirects here. For the Washington, DC radio station, see WAMU. Washington Mutual (or WaMu; NYSE: WM) is the United States' largest savings and loan association. (NYSE NYSE See: New York Stock Exchange :WM), Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. (NYSE:BAC BAC abbr. blood alcohol concentration ), Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. (NYSE:WFC WFC Wi-Fi Connection (Nintendo gaming service) WFC Wide-Field Camera WFC World Financial Center (New York) WFC Workforce Center WFC World Federation of Chiropractic WFC World Food Council ), Citibank (NYSE:C), e-Bay subsidiary PayPal (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :EBAY), and Wachovia (NYSE:WB). Washington Mutual, while still the satisfaction leader, dropped from an "A" to a "B" in overall customer satisfaction from the previous study, and from a "B" to "C" in the percent of its customers able to complete their business with a single phone call. Wells Fargo dropped from a "B" to "C" in satisfaction while remaining at a "D" in single call completion. Citibank remained at a "C" in satisfaction and "D" in completion. Bank of America did not change, earning "D" scores in both categories. Feedback indicates that Wachovia would rank near the top, but too few responses were received to issue letter grades. While not a direct competitor to traditional banks, PayPal processes millions of online financial transactions each year. For the second half of 2006, PayPal's satisfaction score dropped from a "B" to "C" while single call completion remained at the "B" level. VocaLabs 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. Peter Leppik comments: "As an ever greater percentage of routine financial transactions are handled electronically, telephone contacts are increasingly for more complex transactions and problem resolution. This adds to the difficulty financial institutions have in pleasing callers. Some part of the declining scores are likely to be attributable to holiday season related consumer cash flow issues as well." To learn more, visit www.vocalabs.com. An Executive Summary and complete SectorPulse-Financial data reports are available by subscription. Contact Rick Rappe' at rrappe@vocalabs.com, 952-941-6580 X205. About SectorPulse VocaLabs' SectorPulse reports compare the customer service quality for different companies in the same industry, using survey feedback from the companies' customers. VocaLabs has recruited over 80,000 individuals to provide feedback on customer service experiences, from which we drew the participants for this study. VocaLabs panelists who are customers of one of the companies included in this study were asked to participate by having their customer service calls tracked and completing surveys before and immediately after the call. About Vocal Laboratories Vocal Laboratories delivers statistically reliable feedback on the user friendliness of telephone based customer service whether delivered via traditional call centers or self-service technology. Clients are end user enterprises, market researchers, call center consultants, application providers and equipment vendors. VocaLabs' methodology results in highly accurate data on both technical performance and the impact of service on caller opinions. |
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