CBA has posted the biggest improvement in customer satisfaction in the past 12 months, increasing 3.3 per cent to 70.9 per cent, according to a poll by Roy Morgan.
While overall bank satisfaction for the last 12 months had remained unchanged on 72.6 per cent, Roy Morgan industry communications director Norman Morris said there had been an improvement in the satisfaction level of the industry’s top quintile customers – the top 20 per cent of customers who generate approximately 73 per cent of the banking business.
A bank spokesperson for CBA told Mortgage Business that the rise in satisfaction was thanks to the bank’s strong focus and continued investment in home loan customer satisfaction.
“We have listened to customers and brokers’ needs, and tried to meet and where possible exceed them. This has led to a quicker top up process, simpler and easier to read documentation, less fees and the migration of all broker loans onto the same system and process,” the spokesperson said.
In the last 12 months, CBA has moved from fifth place and a gap of 32.2 per cent for new home loan customer satisfaction in January 2006, to second place in June 2009 with a gap of just 2.9 per cent.
“We are privileged that our customers have seen the inroads we are making in regard to servicing their needs. For those customers who have been introduced by a broker, we are now number one in customer satisfaction which is a great endorsement for our team, and also our relationships and support in the broker channel,” the spokesperson said.
In terms of overall bank satisfaction, St George remained the best performer however it slipped 2.6 per cent to 74.4 per cent, ahead of ANZ at 73.7 per cent.