News & Views - Savantor

We all love a survey

Monday, 13 June 2011

Summer is on the way which always seems to usher in survey season.  Researchers will be competing for our attention probably in order to tell us that by next year contactless and NFC will be a thing of the past and we will all be accessing our money residing in the iCloud via whatever device Apple have come up with.  So here is one survey to set us on our way.  Banks find themselves under growing pressure in the relationships they have with their Irish and UK customers, as loyalty, satisfaction levels and behavioural patterns are continuously going down.  According to the research conducted by Accenture,

  • the number of British customers likely to purchase their next financial product from their current provider declined from 66% in 2007 to 46% in 2010.
  • UK costumers who had actually purchased new products from their bank within a 12-month period fell from 29% in 2007 to 22% in 2010.
  • the number of British customers claiming they were satisfied with their bank declined from 84% in 2007 to 73% in 2010.
  • the number of UK costumers who would recommend their provider to family and friends fell from 64% in 2007 to 58% in 2010.
  • the percentage of UK customers who complained to their financial institutions increased from 14% in 2007 to 17% in 2010.
  • UK and Irish costumers prefer using online banking services provided by their financial institutions. 69% of respondents claimed using online banking on a daily or weekly basis, compared to19% who use branches, 7% who use mobile channels and 6% who use call centres with the same frequency.
  • UK respondents aged 18 to 24 were 50% more likely than others to move to another bank, with nearly one in five saying they planned to switch one or more products from their current bank within 12 months.

Probably nothing very surprising in these results given the bad press banks have had recently.  Perhaps they should have asked how many British customers are satisfied with Sepp Blatter?

Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of Ireland

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Collections Transformation

"Savantor did an absolutely superb job for us on the Collections programme. The professionalism, hard work, courtesy and tenacity of their experts is a credit both to the individuals and to Savantor."

Peter O'Dea, Senior Manager - Collections Department - Permanent tsb bank - Ireland

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

Commercial Card Migration

"Execution at its best. We're delighted that this project has been truly outstanding and received an award from 'The Banker'. Savantor provided crucial expertise that helped us keep all our promises in terms of delivery. The scheduling, planning and control regime throughout was excellent."

Chris Mason, Director - Commercial Cards EMEA - Citi - UK

New Payments Initiative

"In moving our new initiative into reality, we required specialist payments knowledge and forward thinking in the retail sector. Savantor supplied this and provided very effective guidance throughout. We enjoyed working with them."

Sophie High, Head of Innovation Delivery - Cancer Research UK

New Fuel Card Guidelines

"Savantor successfully assisted Clear2Pay by providing specialist EMV expertise."

Marie Costers, General Manager - Clear2Pay Open Test Solutions

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.