According to Forrester’s European Banking Customer Experience Index (CX Index) 2021, the COVID-19 pandemic accelerated the transition to digital banking through digital and hybrid channels, and this transition improved the customer experience (CX) among European banks. The ranking of the CX Index shows that digital channels dominate all three dimensions of CX quality – efficiency, lightness and emotion – across Europe. Forrester’s European banking CX index measures the CX quality of the 38 largest and most important banking brands in the UK, Germany, Italy, Spain and France. The index is based on a survey of more than 26,000 European adults
In the UK, customers rated their banking experience as “good” on average, in Germany, Italy and Spain as “okay” and in France as “bad”. quality. Across Europe, challengers (alternatives to traditional banks) and mutuals provided better CX than traditional banks and were praised for their strong customer service, digital offerings, or both.
Monzo finished first in Europe and the UK with a focus on financial well-being; First Direct overtook all other European banks in the customer service incentive category; And in Spain, ING has been leading for the second year in a row. In France, average CX quality remained “poor”, with the exception of Crédit Mutuel, BNP Paribas and Caisse d’Epargne, which improved significantly between 2020 and 2021.
The pandemic accelerated digital a shift towards banking: 17% of French customers access their bank account on a computer for the first time and 19% of Italians use a mobile banking app for the first time. Although customer preferences for the use of different digital channels varied from country to country, overall, banks ’return on their digital experience paid off. Notable results from the digital experience are:
- In terms of efficiency applications were adequate to perform everyday tasks, despite the fact that experience in Italy, Spain and France fell short of expectations. 79% of UK bank customers and 77% of German bank customers found the bank’s mobile application an effective way to bank, compared to only 62% of Spanish customers, 66% of Italians and 55% of French customers. . 79% of bank customers found the mobile app an effective way to bank. Websites were considered to be the most effective way to deal with complex banking needs, but the quality of the experience varies across Europe: 77% of bank customers in the UK and 79% of German bank customers found their bank’s website to meet their needs. while only 61%, 65% and 65% of French, Italian and Spanish customers
- As regards
- for ease of use , mobile applications were a convenient way of banking for most customers, with the exception of France, where customers found mobile websites easier to use due to the limited functionality of French banks in their mobile banking applications. offered. In contrast, customers in the United Kingdom, Italy, Spain and Germany found mobile applications to be one of the most convenient banking channels.
- Emotions online chat evoked the most positive emotions from European customers. This was used even more during the pandemic, when it was not possible to physically enter the bank. In-person chat has facilitated people-to-people contact for customers of banks such as Banca Mediolanum. In the UK, phone calls have provoked the most positive emotions among bank customers, with banks such as First Direct and Monzo focusing on telephone service.
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