This week saw the re-emergence of a new name in British banking, with the creation of TSB. Formed from 600 branches of Lloyds Group, it has 5 million customers and promises to focus on local customers and businesses.The divestment of the branches was mandated by the EU as part of the state bailout of Lloyds during the banking crisis. Originally due to be sold to Co-Operative Bank, when that deal f...
Over the last ten years customers have become less and less likely to put up with poor service. Social media provides a platform to air concerns and the internet and deregulation of many industries has opened up a much wider choice of providers. So, if you don’t like your existing supplier it is theoretically easier to take your business elsewhere.However while switching in some industries (...
Customer service at banks is again in the spotlight. Firstly, an undercover reporter from The Times found shortcomings at one of Lloyds Payment Protection Insurance (PPI) complaints handling centres. Staff were allegedly being taught to reject potential complaints and ignore potential fraud by Lloyds salesmen. The bank has said that it identified shortcomings independently and has retrained staff ...
Despite the growth of other channels, email is still the first choice for a large number of consumers when it comes to contacting organisations. It provides a full audit trail for customers (and companies) and people often feel it is the best way to raise specific complex or technical questions – provided of course, you get a fast, accurate answer.Independently testing the quality of the ema...
There are many similarities between banks and retailers. Both sectors have large, geographically spread branch/shop networks, and in many cases are facing the same challenge of balancing online and offline channels to meet changing consumer needs.As part of their strategy retailers have aggressively been moving into new markets – offering everything from insurance, bank accounts and telecoms...
The need for customer service teams to embrace social media is growing, as more and more consumers use the likes of Twitter and Facebook to ask questions, complain and share their experiences of brands. In our own research we’ve seen that more and more UK companies are now making social media part of their strategy. The 2012 Eptica Multichannel Customer Experience Study found that 70% and 64...
The UK banking industry has often been criticised for complexity, high charges and poor choice for consumers. From misselling Payment Protection Insurance (PPI) to IT problems at RBS/NatWest there have been a steady stream of issues that have weakened consumer confidence in the banking sector.Many have pointed to a lack of choice and the perceived difficulty of switching accounts as being responsi...
Excellent customer service combines great people and strong processes, underpinned with the right technology. Experience shows that it is vital that these three elements are balanced – after all the best people can’t do their jobs if their IT doesn’t provide them with accurate and up to date information that meets their needs.Unfortunately we’ve all heard stories of well-in...
There are lots of ways of measuring the customer experience, from First Contact Resolution rates to Net Promoter Scores. While these deliver useful data, companies also need to step into their customers’ shoes and see for themselves how good service is. Visit your own website and ask the same basic questions that customers do – is it easy to find the right information and do your onlin...
The devastation brought by Superstorm Sandy to the North East United States has impacted huge numbers of people. As well as loss of life, millions have been without power and hundreds of thousands more have had to evacuate their homes and abandon their possessions. And as previous natural disasters, such as Hurricane Katrina, have shown, cleaning up the aftermath and getting life back to norm...