Banking Industry Scores Above Average in Customer Satisfaction, Says ACSI Report
The banking industry had a better than average score for customer satisfaction over the past year, according to the latest report by American Customer Satisfaction Index (ACSI).
The score for how well the banking industry is doing overall (75, unchanged from last year), compares to the overall
Established in 1994, ACSI is a uniform and independent measure of household consumption experience, which tracks trends in customer satisfaction and provides benchmarking insights of the consumer economy. The ACSI is produced by the Business School at the University of Michigan, in partnership with the American Society for Quality (ASQ) and the international consulting firm, CFI Group.
ACSI says their scores are a leading indicator of future consumer buying. "High satisfaction scores make it easier for banks to increase their relationships with their customers and sell them more products and services; low satisfaction has the opposite effect. In general, this translates into a prediction of changes in revenues," according to ACSI.
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