Posts Tagged ‘customer’

PNC Has the Edge in Bank Customer Satisfaction

Posted on October 12, 2017 by Laura Lam

National retail banks have invested heavily in digital transformation and marketing initiatives designed to position themselves as the best one-stop shops for all consumer banking, credit card, loan and investment needs. When it comes to real-world customer satisfaction, though, the biggest drivers of success are low problem incidence and consistency across all lines of bank business, according to the inaugural J.D. Power 2017 National Bank Satisfaction Study. In the complex field of competition among the nation’s biggest banks, Pittsburgh-based PNC just edged out New York behemoth Chase Bank – the nation’s largest bank with more than $2 trillion in assets…

Digital Banks Take the Lead in Customer Satisfaction

Posted on July 07, 2017 by Laura Lam

Conventional wisdom once would have said consumers prefer a traditional bank with branches and humans while digital “direct” banks (those without branches) were only for rate chasers.  But the tide has apparently turned.  Consumers now rate their satisfaction with direct banks higher than traditional banks, according to a study released by J.D. Power. Direct banks scored on average 865 out of 1,000 in the consumer survey while traditional bank users scored their institutions at 824 on average. Scott Lippert, vice president/bank senior strategy officer at USAA, sees this as a side effect of society’s overall shift toward digital.  “We see…

Banks Neglect Seniors in Digital Push

Posted on May 20, 2016 by Laura Lam

According to a 2016 mobile banking study from the Federal Reserve, only 18% of seniors use mobile banking services, versus a whopping 67% of millennials.  Seniors have been laggards in shifting to mobile banking. But banks’ inability as an industry to design websites and apps that respond to the seniors’ needs contributes to the lack of use.  Despite research from Nielsen Norman Group on seniors’ challenges in using the web, developers are still not adequately taking into account older customers’ challenges in when designing digital interfaces. Not only are these customers generally less versed in the mobile environment, but designers…

Credit Policy … Take Two!

Posted on September 21, 2010 by Saldutti

Because we feel that a Credit Policy is an invaluable tool (and a necessity in today’s unstable economic environment), we’ll further expand on last week’s post.  By definition, a credit policy is simply “clear, written guidelines that set (1) the terms and conditions for supplying goods on credit, (2) customer qualification criteria, (3) procedure for making collections, and (3) steps to be taken in case of customer delinquency.” Every business that doesn’t accept payment at the time of the sale must have a credit policy in place or they run the risk of losing money.  This doesn’t have to be…

Credit Q&A

Posted on September 14, 2010 by Saldutti

Do you have a question about credit or collections?  Do you need advice on how to handle a late-paying customer?  Do you have concerns about your credit application?  Email us with your concerns – and we’ll post your questions, along with our response, on a future blog post or in upcoming newsletters.  Contact us at newsletter@saldutticollect.com. Q&A – Creating a Credit Policy One of the most frequent questions we receive from our clients pertains to their credit policies.  We’ve discussed in a previous post how crucial it is to implement a credit policy (see The Importance of a Solid Credit…