Client Results: Service Quality

Following Finalta engagements, our clients have been able to achieve rapid improvements in their service quality.  The case studies below provide some examples.

12% increase in customer satisfaction

  • Bank C is a mid-sized northern European bank focusing on the mass market customer segment. It struggled to differentiate on customer service in a crowded market. The CEO set the objective to become the clear market leader within a three year time frame.
  • Our Service Quality Strategic Review assessed capabilities and helped to develop an action plan. This resulted in a new measurement system, changes to the organisational structure and the implementation of nine Moments of Truth. This was followed up with an annual benchmark to track progress.
  • Over a three year period, customer satisfaction increased by 8%, making Bank C a clear leader in its domestic market. Customer attrition also dropped to <4%.

Implementing service best practice

  • Bank D completed a multi-country benchmarking exercise to compare the service quality of a number of its subsidiaries.
  • Using our recommendations, Bank D rolled out identified best practices group-wide and set new performance targets based on external performance data.
  • With Finalta's guidance, Bank D initiated a series of service improvement initiatives within each different bank. To track the results, we helped it to set standardised KPIs and implement Group-wide measures of service.

Enhancing complaints handling

  • Bank E set a target to achieve the highest customer satisfaction score amongst banks in its market.
  • Our Service Quality Strategic Review study identified a major blind spot in root cause analysis of complaints due to poor complaints recording and handling.
  • Based on our analysis of best practice, Bank E rolled out a new complaints system. This has dramatically improved its understanding of the causes of complaints and increased staff usage to more than 90%.