Noda Presents Research on Banking Contact Center Availability

“This isn’t the first time I’m calling your bank, and every time I have to wait 15 minutes for an answer!” Is that what you hear from clients calling your customer care service? If so, you had better read this article.

When was the last time you measured how satisfied your customers are with your bank's hotline? According to a recent study conducted by Noda Interaction Platforms, the number of unsatisfied clients significantly rises in tandem with the number of non-answered calls, non-answered questions, and looped IVR’s. As recent surveys indicate, 96% of unhappy customers don’t complain and 91% simply leave without ever coming back.

Earlier this month a Noda specialist benchmarked 100 Philippine banks working with retail clients, including major international banks operating in multiple markets across the Asia Pacific Region.

Noda’s researchers called contact centers pretending to be customers, asking normal questions like: “How do I open a savings account?” “Do you offer credit cards?” “Can I take out a housing loan?” Calls were made anonymously during working hours over five days, ultimately totaling over 1,000.

We were surprised by the fact that many customers are not offered even basic customer support. Here is a brief overview of what Noda’s researchers found:

  • Only 57% of calls were handled on the first, second, or third try
  • Only 67% of questions were answered
  • 22 out of 100 banks had IVR problems (looped with nobody answering calls)
  • 45 banks did not answer incoming calls to their hot lines on the first try
  • 24 out of 100 hot lines were busy
  • 22 calls were not connected
  • Only 22 banks served over 80% of incoming calls within 20 seconds

This benchmark is crucially important, as satisfied clients are less willing to look around for alternatives. Higher satisfaction in quality and improved price/quality coefficients leаd to higher value being placed on clients’ relationships with their banks.

Set a meeting with Noda to get a detailed report on Rising Efficiency in BFSI.

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