Purpose of The ath Power Ideal Banking Study™
The ath power Ideal Banking Study™ is a one-of-a-kind, detailed assessment developed to identify which elements make up the “ideal banking experience” for consumers, and to uncover the impediments of producing such an experience. In this, our seventh study, retail banking consumers from across North America responded to ath Power’s online survey, and through this evaluation, assessed their primary financial institution in such areas as customer satisfaction drivers, desired banking features, interest in newer technologies across channels, satisfaction with, and likelihood to recommend, their primary institution, as well as the importance of employee product knowledge and having an advisory relationship. Also provided in the study is an analysis of the changing branch environment at institutions of all sizes, the types of branch layouts desired, and satisfaction with bank performance factors and overall customer service. The study offers actionable insight into ways to leverage existing strengths while identifying areas of opportunity for improvements.
During first half of 2017, ath Power conducted a survey of 2,700 retail banking customers and analyzed the responses to more than 103 questions which were designed to identify factors that determined satisfaction with their banking experience, to uncover impediments to producing such an experience, and to define loyalty, as described by today’s banking consumer. This report offers insight into the current consumer banking market and reveals the most important elements in banking relationships today. It also offers actionable insight on how financial institutions can take advantage of their current market differentiation, as well as identify additional areas of focus to consider.