Customer Service Is One of Mexican Banking's Weakest Links

More than 50% of bank users are dissatisfied with the service provided by their banks

“Mexico is significantly behind in terms of customer service. More than 50% of bank users are dissatisfied with the service provided by their banks,” shared Freddy Dominguez, General Director of, a financial services comparison platform.

As a result, 30% of users have changed providers because of the service offered by their banks, according to a study conducted by the consulting firm, Accenture, which evaluates banking services users’ experience in terms of customer service and marketing.

Other related studies have confirmed the issue. The global consultant agency, Gallup has said that “banks have a lot of work to do.” They conducted a survey and found that for each user who is committed to their bank, there are three others who are indifferent or heavily disassociated from their institution, which can potentially damage the bank’s profits.

This should be of great concern to banks: fully committed customers bring in 37% of annual profits, unlike those who are disconnected from their institution. This study explained that “fully committed customers use more of their bank’s products, deposit more and have higher balances in their accounts.” According to Gallup, only one in three customers strongly agrees that their bank’s executives provide great service, and only 39% say they can always rely on their bank, while less than half think their bank always treats them fairly. The rest do not trust their bank nor do they feel treated fairly.

The number of complaints says it all..... Continue reading article here

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