Many retail bank and credit card customers are financially stressed, and they want their bank and credit card providers to recognize that and help them manage their finances accordingly via their websites and mobile apps. However, when it comes to delivering that level of personalization through high-touch digital channels, most banks and credit card providers are missing the mark. According to a series of recent studies of bank and credit card mobile app and online users, released today by J.D. Power, overall satisfaction with most digital channels has declined as usage has increased.
The studies—J.D. Power 2022 U.S. Banking Mobile App Satisfaction Study,SM 2022 U.S. Online Banking Satisfaction Study,SM 2022 U.S. Credit Card Mobile App Satisfaction StudySM and 2022 U.S. Online Credit Card Satisfaction StudySM—track overall customer satisfaction with banking and credit card providers’ digital offerings.
“We’re seeing a lot of volatility in customer satisfaction scores in the digital banking and credit card space driven by a combination of heightened customer expectations for what a digital experience should look like,” said Jennifer White, senior consultant for banking and payment intelligence at J.D. Power. “Based on their experiences with other consumer apps and websites that anticipate their needs and offer a highly personalized customer experience, bank and credit card customers are expecting more from their digital solutions. The tough economic climate has amped up the urgency of those expectations.”
Read the full press release for additional key findings and brand rankings >