National banks in the US are experiencing a rise in customer satisfaction as trust in their ability to meet financial needs strengthens, J.D. Power research has revealed.
Now in its eighth year, the J.D. Power 2024 U.S. National Banking Satisfaction Study takes a deep dive into the customer experience at nine major national banks in the US.
The study assesses a range of factors that influence banking experiences, including trust, staff interaction, account offerings, flexibility in banking operations, efficiency in saving time and money, digital channels and effectiveness in resolving problems or complaints.
It reveals that customers have growing confidence in their banks during challenging times. Leading the pack in customer satisfaction for the third consecutive year are Capital One, Chase and TD Bank, with scores of 700, 691, and 687 respectively on a 1,000-point scale.
“Customers of the national banks had improved satisfaction and trust in 2024, as they experienced better service levels when using branches, when resolving problems and when receiving advice or guidance from the bank,” said Paul McAdam, senior director of banking and payments intelligence at J.D. Power.
He explained that the only area of customer experience with a sharp decline was when customers used self-service technologies (e.g., online secure message or email, website mobile app) to contact the bank to seek information, ask a question or make a request.
“Although satisfaction dropped when customers used self-service technologies, trust was preserved due to positive experiences with courteous and knowledgeable representatives in phone and in-branch interactions,” McAdam also added.
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