Last week JD Power released its 2013 U.S. Retail Banking Satisfaction Study. I think one of the biggest takeaways – highlighted in the press release – is the fact that, while community banks still lead in satisfaction, big, TBTF banks are closing the gap. In the Midwest, Chase led the rankings.
Not surprisingly, mobile banking usage continues to climb, up 6 percentage points from 2012. While mobile banking may not be the choice of the majority of customers – JD Power found a usage rate of just 17 percent – mobile isn’t going away.
Community bankers often cite that the level of service they provide sets them apart. With big banks making gains in customer satisfaction, combined with a firm grasp on the technology that customers increasingly want, should community banks worry?