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News Now

CU System
CUs Rock Consumer Satisfaction With Online Sites
ANN ARBOR, Mich. (6/5/13)--Credit union sites scored the highest in user satisfaction with average scores of 82--or "highly satisfied," in Foresee's Financial Services Benchmark released last week.

The Foresee survey reports on online and mobile customer satisfaction trends for several industry segments, including credit unions, banks, investments and lending companies and miscellaneous financially focused organizations.

The research allows companies to gauge the state of the industry and determine how their online and mobile experiences compare to industry averages. ForeSee, a company that uses technology-driven customer experience analytics, developed the benchmark with data from first quarter 2013 culled from more than 335,000 surveys, in which consumers shared their experiences with online websites, mobile websites and mobile applications.

Overall, average customer satisfaction with financial websites is at 72 on ForeSee's 100-point scale. Scores of 80 and higher are classified as "highly satisfied," while scores of 69 and lower are "dissatisfied." While the industry average score of 72 indicates that many consumers are satisfied with their online banking experience, it leaves room for improvement across the industry, Foresee said.

Investments and lending organizations scored much lower than credit unions with average satisfaction scores of 69 and 70, respectively. Banking and miscellaneous financially focused organizations--such as financial media sites--fell in the middle range, with average satisfaction scores of 71 and 74.

Across all industry segments, highly satisfied customers are more likely to recommend their institution than less-satisfied customers. For example, highly satisfied credit union members are 92% more likely to recommend their credit union, Foresee said.

Highly satisfied customers also are more likely to use the website in the future. Highly satisfied credit union members are 29% more likely to use the credit union again.

Three financial industry segments were measured to calculate customers' "likelihood to use more services," which is a key marker for future growth and long-term satisfaction. Credit union members who are highly satisfied are 75% more likely than less-satisfied members to use more products/services in the future.

To read the full survey, use the link.
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