UK Customer Satisfaction Index (UKCSI)

The UKCSI has revealed the results of their online poll which is based on the 24,000 samples of adults who responded on the poll. According to the UKCSI, results showed that despite the recession that is hitting the economy, many consumers are still satisfied and happier with the financial services that they get.

The UKCSI conducted its online poll in late 2008, asking respondents how well organizations and companies performed in fundamental areas like complaint handling, competence, professionalism, friendliness of staff and quality. It indicates that customer satisfaction is cultivating within the insurance and banking industry, with both lasting in the uppermost half of the table. It considers the economic downturn as a crucial contributory factor. The UKCSI survey also revealed that a satisfaction rise was seen in the banking sector, proving that most customers have rated service as they see it, relatively than flickering recent media coverage.

With patrons in quest of value-for-money yields and services, several financial companies are exerting more efforts to impress and keep their customers satisfied. The finance (insurers) sector still remains the highest ranking sector garnering a score of 75. Finance (banks) only followed with a score of 74. Saga leads the insurer list, succeeded by Tesco Personal Finance with a score of 79.

Barclays was the most praiseworthy turnaround for the financial institutions in the previous poll that was conducted in July 2008. In the latest poll, Barclays maintained the same score of 73. But because of improvements made by other banks, this demotes Barclays to the last place of the industry’s utmost achievers.