Effective engagement is key for banks to retain customers, finds survey

SINGAPORE (Mar 15): Two-fifths (40%) of local retail banking customers in Singapore are ready to stop or cancel their services with a bank on the grounds of poor customer engagement, according to a recent study commissioned by customer experience & call centre tech provider Genesys.

The online survey, carried out by business consulting firm Frost & Sullivan among 500 customers across six leading banks in Singapore in 2Q17, focused on identifying underlying customer engagement trends in the Singapore retail banking landscape.

It found that one in three respondents chose “having to repeat information” as a key reason for motivating them to stop or cancel services, which Genesys found was attributable to increasing frustration as context from the initial contact, the customer, is hindered from being passed on to the next channel.

---

Related Stories

• Sing Investments & Finance tops all categories in its segment
• Nearly half of retailers in Singapore struggle with brand awareness
• Singapore investors remain active, consciously on the lookout for opportunities: Fullerton Fund Management survey

---