Category: Ranking

EU, Ranking, US

Wachovia Ranked No. 1 in interbank Satisfaction Score amongst global banks

Colin Henderson

Wachovia continues to achieve success, in this case a survey amongst Bank executives.

Wachovia Ranked No. 1 in Overall Satisfaction Score | Nachrichten |

CHARLOTTE, N.C., May 15 /PRNewswire-FirstCall/ — Wachovia Corp., the fourth largest banking institution in the U.S. based on assets, received the “highest institutional satisfaction score” among banks that offer correspondent banking services. Wachovia’s first place ranking is based on a survey of 500 banking executives in 78 countries by the market research firm FImetrix for its annual “FImetrix Global Report on Bank-to-Bank Services” report.

Wachovia placed second in the 2004 report.

“Being named the bank that provides the best overall satisfaction to clients is a significant achievement and we’re proud. We work hard to support our customers with both innovative product solutions and attentive client care,” said Michael Heavener, the head of Wachovia’s Global Financial Institutions and Trade (GFIT) business.

Wachovia’s Number One ranking is a consolidated score based on the answers to a series of survey questions that looked at product quality, customer service, pricing, commitment to a long-term relationship, extension of credit, the ability to customize products, internet capability, continuity of operations, in-market customer service and risk management assistance.

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Business Models, Ranking, US

Some household-name banks and full-service brokerages struggle with customer advocacy, while credit unions and insurance firms connect with consumers

Colin Henderson

Big banks rank low in customer advocacy.  But on looking deeper, there are clues to systemic change occurring in financial services.

destinationCRM.com: Consumers Size Up Financial Services

Forrester defines customer advocacy as consumer perception that their financial services firm does what’s best for its customers, not just the firm’s own bottom line.

Like last year JP Morgan Chase and Citibank received the lowest ratings, earning scores of 18 percent and 19 percent. In fact, six of the seven lowest-scoring firms are large banks like Bank of America (30 percent), Wells Fargo (32 percent), and Washington Mutual (33 percent), according to the report. Click here to learn more!

There are two major culprits responsible for poor customer advocacy rankings among large banks, according to Bruce Temkin, vice president and practice director of financial services at Forrester and report coauthor. “It’s hard to be everything to everybody, and a lot of the big banks have spent most of their time over the last view years focusing on their M&A strategy,”

The changes we are seeing offer four clear clues to future success for large banks.

  1. the full service brokerage model is under attack, and some argue is dead
  2. big organisations have lost customer focus, yet some such as A.G. Edwards do it masterfully
  3. Credit Unions are perennially successful, because customers feel they “belong”
  4. property & casualty do well – because of simple, easy to price products, with consumate focus on delivery (claim payouts, fast service)

Continue reading “Some household-name banks and full-service brokerages struggle with customer advocacy, while credit unions and insurance firms connect with consumers”

Ranking, US

Online Banking Customers’ Top Web Site Choices

Colin Henderson

More on the Keynote study ranking online banking for US banks.

destinationCRM.com: Online Banking Customers’ Top Web Site Choices

Wachovia topped the customer experience rankings; Chase, Citibank, Wells Fargo, Wachovia, and Bank of America all topped the Web excellence scorecard.

They conclude that speed, reliability and ease of navigation are important. Interestingly, Keynotes core competencies are in measuring those attributes. Obviously these attributes are an important measure, but not the only ones.

Banks whose Web sites are easy to navigate, provide quick and accurate responses, and have solid uptime and reliability are keeping and profiting from customers, according to Keynote System’s “Keynote Customer Experience and Service Level Rankings.”

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Ranking, US1 Comment

Statistics – US Online banking

Colin Henderson

Some statistics on the domination of US online banking by Bank of America. Charlotte Observer | 04/12/2006 | BofA’s orbit larger with Web users Almost 40 million people logged on to a banking Web site in the fourth quarter of 2005, according to comScore, based outside Washington, D.C. That was a 27 percent increase over the fourth quarter of 2004.                                        BofA      Wells      Wachovia    CitiUS deposits                 10%                           5% +/-US online bankers       38%         21%Incr Q405 … Continue reading Statistics – US Online banking

EU, Ranking

Ranking of Spanish banks

Colin Henderson

This from Euroresidentes.com If you spend long or frequent periods away from your property in Spain, you should make sure that the bank you choose has a good online banking service. Bankinter is Spain's most successful online bank.Some Spanish banks have special offices in tourist areas (especially the Costa del Sol, Costa Cálida and Costa Blanca). They are called Oficinas Internacionales and have staff who can speak several European languages. Example of theses are Caja Murcia and the CAM (Caja de Ahorro del Mediterráneo). Below you can find a description of the services offered by Spain's biggest savings banks. Click … Continue reading Ranking of Spanish banks

Ranking, US

US Banks ranked by web influence – (1999/2001 approx)

Colin Henderson

Company Stock Symbol Rank Assets in billions of $ Sales in millions of $ Market Capitalization in millions of $ NetValley Benchmark N V B * *Web influence Assets Bank of America BAC 1 5 260.1 50,777 108, 815 10.35 Wells Fargo WFC 2 10 97.5 20,482 55,185 7.69 JP Morgan JPM 3 4 262.1 17,701 18,946 6.29 Key Corp KEY 4 15 73.6 6,568 13,883 4.52 First Union FTU 5 6 157.3 21,543 50,281 4.24 Nation’s Bank N/A 6 3 264.6 N/A N/A 3.92 Chase CMB 7 1 365.5 32,379 62,641 3.46 Citicorp C 8 2 310.9 37,609 117,858 … Continue reading US Banks ranked by web influence – (1999/2001 approx)

Ranking, US

US Banks ranked by “web influence” (1999)

Colin Henderson

Company Stock Symbol Rank Assets in billions of $ Sales in millions of $ Market Capitalization in millions of $ Internet Valley Benchmark I V B * *Web influence Assets Bank of America BAC 1 5 260.1 50,777 108, 815 10.35 Wells Fargo WFC 2 10 97.5 20,482 55,185 7.69 JP Morgan JPM 3 4 262.1 17,701 18,946 6.29 Key Corp KEY 4 15 73.6 6,568 13,883 4.52 First Union FTU 5 6 157.3 21,543 50,281 4.24 Nation’s Bank N/A 6 3 264.6 N/A N/A 3.92 Chase Manhattan CMB 7 1 365.5 32,379 62,641 3.46 Citicorp C 8 2 310.9 … Continue reading US Banks ranked by “web influence” (1999)