Banking’s lead on CX an example to other industries

Mustafa Atik, Utilities Expert at Quadient

The UK’s banking industry is streets ahead when it comes to customer experience, and other sectors such as broadband would do well to follow its example, a CX expert has claimed.

Mustafa Atik, Utilities Expert at customer communication player Quadient pointed to an independent survey into whether customers of the 16 largest personal current account providers would recommend their provider to friends and family, carried out by GfK UK at the request of the Competition and Markets Authority. It showed First Direct’s focus on customer experience has led to it being the bank people are most likely to recommend. He contrasted the findings with a report Which? slating the customer service provided by some of the big broadband providers.

“It’s telling that customers ranked Zen Internet the top broadband provider, as it specifically set out to put customer happiness first,” said Atik. “Its founder commented on the UK broadband industry’s notoriety for poor customer service, and this Which? report should serve as a wake-up call for some of the bigger names, who need to make customer experience more of a priority than ever before. Our own research shows more than half (52%) of UK consumers are feeling increasingly powerful over businesses, and more than three quarters (76%) will turn their backs on organisations that don’t meet their customer experience expectations. Businesses must practice what they preach. The broadband industry is built around communication, so it’s only natural for customers to expect a good standard of interaction with their service provider.”

Looking across wider industries, firms who focus on customer experience are reaping the rewards, he commented: “Broadband service providers could learn something from the banking industry, for example, where a recent Competition and Markets report revealed that First Direct’s laser-focus on customer experience has resulted on it being the bank most people would recommend to a friend.”

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