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first direct ranked top financial services brand for customer satisfaction

15 Feb 2013

Direct bank placed third overall in UKCSI 


first direct has been ranked joint third in the Institute of Customer Service's latest  Customer Satisfaction Index (UKCSI) of top performing organizations in the UK. 

The UKCSI is the national measure of customer satisfaction. It gauges the quality of UK customer service by surveying 26,000 consumer responses each year. 

The top ten performing organisations also include ASOS, John Lewis, Waitrose, Amazon, Skoda, Iceland, The Co-Operative Bank, Volvo and Debenhams. 

Overall, the UKCSI was up 0.8 points year on year, to 78.2 out of 100, continuing the upward trend in satisfaction levels across the UK. 

first direct , which also led the banking list last year, has added 3.6 points, taking its customer satisfaction score to an impressive 89.9. 

There is a clear correlation between service performance and customer recommendation in the retail banking sector. On average, an increase of one point on a bank's Index score equates to an additional 1.6% of customers recommending the institution. 

The top three performers in the UKCSI are the most likely to be endorsed by their customers: more than half (51%) of first direct customers have recommended their bank. 

The non-food retail sector achieved the greatest increase in customer satisfaction to score 85.2 in January's UKCSI, stretching its lead over other industries. 

Food retail was the second-best performing sector (82.1), with services narrowly behind (82). Automotive (81.3), leisure (80.7) and tourism (80.5) also scored highly. The financial services industries scored 78.8 (insurance) and 78.0 (banks). 

Jane Mitchinson, Director of Service at first direct commented, 'We built the bank with customers at its heart. And, whilst many are now trying to catch up in their service offering, this ranking really reflects the immense amount of work and thought that goes into looking after our customers'.

Jo Causon, Chief Executive of the Institute of Customer Service, said: 'The top ten performing organisations have clearly put the customer at the heart of the business and recognised service as a key differentiator. In this difficult economic climate, a focus on customer service is crucial, helping to deliver a tangible impact on customer retention, loyalty, and ultimately, the bottom line.'

 

Ends

 

For more information please contact Amanda.brown@firstdirect.com on 01132766700 or Rebecca.hirst@firstdirect.com on 01132766899. 

Notes to editors

UKCSI Top Performing Organisations: January 2013

Rank

Organisation

UKCSI score / 100

1

ASOS

92.7

2

John Lewis

92.3

3=

Waitrose

89.9

3=

first direct

89.9

5

Amazon

89.6

6

Skoda

87.8

7

Iceland

87.0

8

The Co-operative Bank

86.9

9

Volvo

86.4

10

Debenhams

86.2

About UKCSI 

The UK Customer Satisfaction Index (UKCSI) is the national measure of customer satisfaction, published by the Institute of Customer Service. The Institute launched the UKCSI in 2007 and publishes it every 6 months.  

UKCSI is based on 26,000 consumer responses, across 13 business sectors (Automotive; Finance (banks and building societies); Finance (insurance); Leisure; Public sector (local); Public sector (national); Retail (food); Retail (non-food); Services; Telecommunications; Tourism; Transport; Utilities.  

The January 2013 UKCSI combines 13,000 responses from surveys conducted in November and December 2012, with 13,000 responses conducted in June in 2012 in order to give a rounded view of customer satisfaction in the UK. 

UKCSI responses are gathered from a geographically and demographically representative sample of UK adults. Data is collected from approximately 160 private sector organisations with a market share sizeable enough to register in the survey, as well as key organisations in local and national public sectors.  

Customers are asked to rate organisations on key attributes of customer service including professionalism, quality & efficiency, ease of doing business, problem-solving, timeliness, and the way complaints are handled. 

Aspects of each attribute are scored out of 10, and the results weighted according to the priority given to each attribute by customers. The attributes of customer service, and the weighting given to them, are based on the Institute's research, Customer Priorities: what customers really want. The results are aggregated to present an overall satisfaction rating out of 100. 

The UKCSI has been welcomed by BSI British Standards. It says: "We believe it is an important step in improving customer satisfaction in the UK as well as a useful tool for consumers and business. Customer satisfaction is a key area of standardisation for BSI and our own work in this area potentially assists organisations to improve their position in the index." 

For more information about the UKCSI go to: www.ukcsi.com

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