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In Direct Bank Gold Rush, Top Performers Find Different Paths to Success, J.D. Power FindsCOSTA MESA, Calif., March 21, 2019 /PRNewswire/ -- As customers continue to flock to online banks, with many such banks posting double-digit increases over the past year,1 branchless—or direct—banks are setting the standard for customer satisfaction in the banking sector. According to the J.D. Power 2019 Direct Banking Satisfaction Study,SM direct banks continue to significantly outperform traditional retail banks in overall customer satisfaction, with the highest-ranked performers each operating different business models and taking distinct approaches to customer interaction. "Direct banks are performing better than traditional retail banks across every comparable factor we evaluate—even areas like communication and problem resolution, where one might intuitively think a traditional retail bank would have an advantage," said Bob Neuhaus, Vice President of Global Financial Services at J.D. Power. "What's most interesting in this study, though, is the fact that the top three performers—Charles Schwab, Ally and Discover—have taken decidedly different paths to market and deliver high levels of customer satisfaction in different ways, showing that there is more than one recipe for success in this rapidly growing market." Following are some key findings of the 2019 study:
Charles Schwab Bank ranks highest in overall satisfaction with a score of 865. Ally Bank (864) ranks second and Discover Bank (860) ranks third. The U.S. Direct Banking Satisfaction Study, now in its third year, measures overall satisfaction with direct banks based on five factors (in order of importance): channel activities; products and fees; communication; new account opening; and problem resolution. The channel activities factor includes five subfactors: online banking website; mobile banking; assisted online; call center; and IVR. The study is based on responses from 2,138 direct bank customers nationwide and was fielded in January-February 2019. To learn more about the U.S. Direct Banking Satisfaction Study, visit See the online press release at http://www.jdpower.com/pr-id/2019047. J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe. Media Relations Contacts About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info 1 S&P Global Market Intelligence, "Deposits Flocked to Digital Bank Accounts in 2018," Feb. 8, 2019 https://www.spglobal.com/marketintelligence/en/news-insights/trending/x_4w__d4ffvublpts40w_a2
View original content to download multimedia:http://www.prnewswire.com/news-releases/in-direct-bank-gold-rush-top-performers-find-different-paths-to-success-jd-power-finds-300815195.html SOURCE J.D. Power |