Superior customer experience is fast becoming a core differentiator for businesses across all industries. In the retail banking sector, organizations must adapt and respond to ever-changing customer expectations. In a recent study, Frost & Sullivan revealed that customer experience is a critical imperative for
customers in Hong Kong when choosing their primary bank. Hong Kong Retail banks need to grasp this new reality or risk losing customers.
To further our understanding of customers’ interaction preferences with their primary banks, Frost & Sullivan conducted an online survey of 500 customers across six leading banks in Hong Kong, with a focus on identifying underlying customer experience trends in the retail banking landscape. The study uncovered:
Hong Kong banks fare poorly in the customer loyalty metric;
Customers are willing to switch banks over poor customer services;
Traditional channels are still important amid growing popularity of online;
Customer expectations and preferences still are not being met;
Customer analytics is key to sustaining a competitive advantage.
Read the white paper to find out more about how customers rank their local and foreign banks.