Bank of 2022: Client satisfaction is highest here

The customers have made up their minds
This is the bank of 2022

Customer loyalty does not automatically lead to high customer satisfaction. Moreover, many consumers no longer trust just one bank. This is shown by a large customer survey conducted by the German Institute for Service Quality together with ntv.

According to a survey of 11,300 bank customers by the German Service Quality Institute, customer satisfaction with the financial sector was mixed. 9 out of 29 evaluated banks – and thus almost a third of the companies – received a “very good” customer rating. Eight financial institutions each achieve a good or satisfactory overall result – four others, on the other hand, achieve no more than an adequate result.

Customer ratings from “very good” to “sufficient”

The theme of sustainability often turns out to be a success factor. Companies that are characterized by a sustainable concept have extremely satisfied customers. Five out of eight companies in the specialty provider category achieved a “very good” quality rating.

In addition, three regional financial institutions and one direct bank received very good client ratings. The security aspect, which includes, for example, online security or confidence in deposit insurance, achieved the highest satisfaction rating among those surveyed: a good 84 percent of those surveyed gave a positive rating. On average, good results are also achieved in the areas of services, assortment, transparency and perceived image of financial institutions.

Banks see the greatest potential for improvement in conditions with aspects such as fees and interest: almost 29 percent of survey participants did not rate these positively.

A key factor in online banking

More than a third of those surveyed said they were annoyed by their own bank. The most common reason – for around 24 percent of those affected – is problems on the Internet or with online banking. Good internet banking is actually the most frequently mentioned aspect when choosing your own bank.

In the eyes of the interviewees, the service also plays an extremely important role here. Markus Hamer, Managing Director of the German Institute for Service Quality: “Due to the large differences, customer satisfaction with financial institutions does not currently give a uniform picture. Good news for the industry: the vast majority of respondents have been loyal to their own bank for many years 44 percent are now multi-point and are customers both branches and direct banks.”

Great banks

Direct banks: He takes first place ING (Quality assessment: “very good”), which convinces its customers especially with regard to service, transparency and assortment. The willingness to recommend is also very strong. Second place goes to Consorsbank ahead of DKB Deutsche Kreditbank in third place, both with good overall results.

National bank branches: Die BBBank (Quality rating: “good”) secures first place and thus confirms its success in recent years. The company ranked first among the nation’s branch banks in all rating areas surveyed, as well as harassment and willingness to recommend. Targobank follows in second place; Santander is third.

Regional bank branches: Die PSD Bank Munich (Quality assessment: “very good”) repeated last year’s success and secured first place among regional branch banks. There is a very broad consensus among customers, especially when it comes to terms, safety and service. Sparda-Bank Hessen is in second place ahead of PSD Bank Nürnberg in third place, both with a quality rating of “very good”.

Special banks: It takes first place among specialists and in the overall result GLS Bank (Quality rating: “very good”). Druzhstevní banka thus once again secured the “Bank of the Year” award. In addition to exceptionally high satisfaction values ​​in individual aspects and leading positions in the areas of conditions and assortment, the customer’s willingness to recommend is also the most significant. Among specialized banks, UmweltBank is in second place, ahead of Triodos Bank in third place, both also with very good overall results.

(This article was first published on Thursday, November 24, 2022.)

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