Don’t Ask Your Bank Customers If They’re Happy. Watch What They Do, Instead.

Read the Financial Brand article here.

Here is a brief summary:

• Customer surveys and Net Promoter Scores (NPS) are unreliable for measuring true customer satisfaction.
• Many consumers feel pressured or incentivized to give high ratings, leading to skewed data.
• Alternatives to NPS, like customer journey analytics, offer more detailed insights into customer behavior and satisfaction.
• Digital banking’s growth offers both opportunities and challenges in measuring and enhancing customer engagement.
• Financial institutions need to invest in advanced digital experience platforms (DXPs) for better customer insights.