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TSB Bank named Financial Institution of the Year

TSB Bank named Financial Institution of the Year

TSB Bank has been awarded the 2013 Roy Morgan Customer Satisfaction Award for Financial Institution of the Year. After consistently topping customer satisfaction surveys TSB Bank came out the best of 35 financial institutions including all the big banks and insurance companies.

Kevin Murphy, Managing Director of TSB Bank said the achievement was a result of proudly putting customers’ first. 

“It’s satisfying to see the customers who bank with us rate us so highly.  Going the extra mile and providing down-to-earth Kiwi service is what we’re about” he said.

Roy Morgan, an independent research company, surveys the customers of the different financial institutions in New Zealand on a monthly basis.  The organisation that achieved the most months with a number one ranking is named as Financial Institution of the Year.  TSB Bank topped the monthly customer satisfaction survey 11 out of the 12 months.

“Being named as the 2013 Financial Institution of the Year shows you don’t have to be big to be better” said Mr Murphy.  He went on to say while some financial institutions are trying to be customer focussed they find it more difficult to balance returning a profit, often to overseas owners, and giving great service.

Mr Murphy observed “Giving customers’ choice and keeping the option of real people available who understand you and your individual needs is important.  While we’ve been enhancing the different ways our customers can bank with us, either online or over the phone, we’ve also retained what is considered traditional service as well.  And clearly our customers like what we’re doing.” 

Pip Elliott, General Manager, Roy Morgan Research NZ, says “From a customer satisfaction viewpoint smaller financial institutions like TSB Bank have certainly lifted the bar for the rest of New Zealand’s big retail banks. Customer satisfaction for TSB Bank is much higher than that of the 5 major banks, which have a considerably lower average satisfaction rating. Overall Industry satisfaction sits at 76%.

As a first-time winner, TSB Bank came close to making it a clean sweep of the Customer Satisfaction Awards in 2013— consistently topping the monthly survey.  Their satisfaction has been steady at around 95% throughout the last quarter of 2013.”

Mr Murphy’s final words were reserved for current and future customers.  “I would like to acknowledge and thank all our customers.  We’re delighted to win this award and appreciate you rating us so highly.  And if you’re not a customer, then you might like to experience what better banking feels like by getting in touch”.


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