State of Banking Consumer Survey Shows Branches Still Popular
Everyone does their banking online these days, right? Well, not everyone, according to the new 2017 TimeTrade State of Banking survey.
We asked 2,000 consumers a series of questions about their banking experiences. The goal was to measure what they like—and dislike—about the process of conducting business with their bank.
Nearly half of survey respondents said they visit a branch once a month or more. And the location and operating hours of branches are top factors in determining which bank they choose.
Since face-to-face banking is still so important to consumers, the service they receive at a branch is a critical factor in their satisfaction—or lack thereof. It’s no surprise that customers dislike waiting for service. But how can banks address that issue as part of a comprehensive program to provide personalized service to every customer, every time?
Two-thirds of respondents said they’d welcome the opportunity to schedule an appointment to meet with a subject-matter expert to discuss a home mortgage, car loan or other type of complex transaction. That would eliminate the frustrating process of showing up at a bank only to discover the line to talk with an expert was unacceptably long.
These are just some of the topics covered in the report. To learn more, download the 2017 TimeTrade State of Banking.