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Financial Services in the US

  Financial Services in the US

  • Sector average score 61 Financial Services in the US
  • Knowledge & Expertise 67
  • Style of Communication 63
  • Speed of Resolving Problems 68
  • Valuing the Customer 68

US Bank ranks top of the charts for the second wave running, adding +1 to its Overall Effort Score. But with Chase Bank in second and doing the same, the race is on in Financial Service Customer Effort supremacy. 

Frontrunners should be taking note of another challenger – Wells Fargo. The fourth largest bank has added an impressive +4 points to its Overall Effort Score thanks to a rise in its Style of Communication score, bucking the wider trend of the industry dipping in that pillar.

We also see shifts further down the table. TD Bank and Chime have swapped positions wave on wave with a fraction's difference between them. Meanwhile Varo Bank rises from bottom to 12th, replaced by Current.  

 
Rank
Brand
Effort
Knowledge
&
Expertise
Style
of
Communication
Speed
of
Resolving
Problems
Valuing
the
Customer
NPS
1
67
Knowledge & Expertise 68
Style of Communication 69
Speed of Resolving Problems 64
Valuing the Customer 66
NPS 4
2
66
Knowledge & Expertise 67
Style of Communication 70
Speed of Resolving Problems 63
Valuing the Customer 68
NPS 3
3
64
Knowledge & Expertise 66
Style of Communication 68
Speed of Resolving Problems 62
Valuing the Customer 63
NPS -13
3
64
Knowledge & Expertise 65
Style of Communication 68
Speed of Resolving Problems 62
Valuing the Customer 65
NPS -11
3
64
Knowledge & Expertise 64
Style of Communication 65
Speed of Resolving Problems 61
Valuing the Customer 64
NPS -5
6
63
Knowledge & Expertise 63
Style of Communication 68
Speed of Resolving Problems 62
Valuing the Customer 63
NPS 2
7
62
Knowledge & Expertise 64
Style of Communication 66
Speed of Resolving Problems 58
Valuing the Customer 62
NPS 5
8
61
Knowledge & Expertise 61
Style of Communication 67
Speed of Resolving Problems 56
Valuing the Customer 60
NPS -26
9
60
Knowledge & Expertise 61
Style of Communication 59
Speed of Resolving Problems 61
Valuing the Customer 61
NPS -17
9
60
Knowledge & Expertise 58
Style of Communication 61
Speed of Resolving Problems 57
Valuing the Customer 62
NPS -11
11
58
Knowledge & Expertise 59
Style of Communication 65
Speed of Resolving Problems 55
Valuing the Customer 55
NPS -11
12
55
Knowledge & Expertise 53
Style of Communication 57
Speed of Resolving Problems 56
Valuing the Customer 55
NPS 17
13
54
Knowledge & Expertise 55
Style of Communication 57
Speed of Resolving Problems 49
Valuing the Customer 53
NPS 24
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Last updated: Apr 2024 Next update: Jul 2024
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Last updated: Apr 2024 Next update: Jul 2024
  • Three pillars are down for the market generally – Knowledge & Expertise, Speed of Resolving Problems and Valuing the Customer. The CEI's self-referential score means that this is a tightening of how competitive the US financial market is becoming in all CEI pillars.
We say Brands must ask themselves if they're ticking all the boxes their customers expect. Are they using the right technology to handle appropriate queries while equipping their contact center staff with up-to-the-minute information? Are they investing in the right solutions that speed up resolution time, while showing how much customers are valued?
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Customer Effort Scores for the quarter are presented in the rankings, ordered by highest Overall Effort Score first, to show which brand scored highest with its customers for that period. Individual brand ratings against the four pillars take us underneath that Overall Effort Score, with brand-specific explanatory analysis from the CEI Editorial team.

You can use the display above to toggle between score, ranking and individual pillars. Clicking 'Performance Tracker'  enables you to analyse the performance over time.

The Customer Effort Index is calculated using a self-referential scale that is recomputed every wave based on what the minimum and maximum values are. This enables us to see how each brand is performing compared to the others within the data set. See About for more on the methodology. 

ContactEngine sponsors the Customer Effort Index

ContactEngine believes that a great customer experience is an effortless one, where life is made as easy as possible for the customer. ContactEngine commissioned the Customer Effort Index to measure how real people perceive the effort it takes to be a customer of some of the leading brands in the world. By enabling a comparison of effort not only within an industry, but across industries, we can identify and learn from the brands who lead on making it easy for their customers to do business with them.