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Top Kiwi Banks Get Satisfaction Friday, 1 March 2013, 8:58 am Press Release: Roy Morgan Research

Friday, 1 March 2013
Top Kiwi Banks Get Satisfaction

Roy Morgan Research last night revealed the winners of its 2nd annual Customer Satisfaction Awards for Banking at a gala dinner in Auckland.

Commenting on our satisfaction (or dissatisfaction) with our banks and insurers is almost a Kiwi pastime. And every bank, credit union or building society faces intense competition for the trust and loyalty of New Zealanders.

The award winning organisations announced last night have clearly discovered and implemented ways to attract and satisfy customers, whether they service a defined and concentrated market or any Kiwi with a spare dollar for safekeeping or a desire to borrow more.

SBS Bank wins 2012 Financial Institution of the Year

Many building societies and credit unions now compete as retail banks. From a customer satisfaction viewpoint this has certainly lifted the bar for the rest of New Zealand’s retail banks.

While the average customer satisfaction among the six big banks in New Zealand is 79.5%, customer satisfaction among the credit unions and building societies is much higher.

SBS Bank received customer satisfaction scores as high as 95% and won eight of the twelve months in 2012.

Kiwibank wins 2012 Major Bank of the Year

With the announcement of ANZ dropping of the National Bank brand in New Zealand in late September 2012, there has been a significant increase in competition amongst all financial institutions. All the major banks have embarked on aggressive advertising and branding campaigns in an attempt to acquire and retain customers.

In a tight credit market with little growth, customer satisfaction has a big role to play. And we have been witnessing a tightening race amongst the big banks.

Pip Elliott, General Manager, Roy Morgan Research NZ, says:

“Post-GFC (or mid, depending on your view), banking and finance organisations need more than ever to attend to their customers’ needs.

“Now in only its second year, these Awards are already recognised as currency in many industries, being the most accurate and trusted indicators of customer satisfaction in New Zealand.

“By integrating customer satisfaction measures with our world-leading Single Source survey of over 12,000 Kiwis, we offer businesses incomparable research into just how satisfied their customers are and areas where they could improve.

“Roy Morgan Research congratulates not only the winners but all successful businesses, large and small, that consistently aim to satisfy their customers.”

To visit the Roy Morgan Customer Satisfaction Awards website, click here. The website monitors the movement in customer satisfaction for a number of businesses over different industries.
To purchase any number of Roy Morgan’s Satisfied and Dissatisfied Customer Profiles, click here. These profiles are an in-depth analysis of customers who have indicated they are either satisfied or dissatisfied with a particular business.
Please click on this link to the Roy Morgan Online Store.

About Roy Morgan Research:
Roy Morgan Research is the largest independent Australian and New Zealand research company, with offices also in the United States, United Kingdom, and Indonesia. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has more than 70 years’ experience in collecting objective, independent information on consumers.
Roy Morgan Research was set up in New Zealand in the 1990s and has been collecting information across a wide range of industries in New Zealand ever since. Roy Morgan currently has over 10 years of trended data on a geographically and demographically representative sample of over 12,000 New Zealanders aged 14+.

ENDS

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