Boston (PRESS RELEASE – November 16, 2010) – A new ranking of top banks for small business customer experience was released by ath Power Consulting, a research and strategy firm. Based on in-person visits to 33 banks nationwide by 690 small business customers, the ath Power Consulting 2010 Small Business Banking Audit of Customer Experience measured how well banks respond to the needs of small businesses. Compared to the 2009 study, new leaders emerged: Citizens Bank rose from 10th to second nationally and first in the Midwest, Chase moved up from 12th to third place nationally, placing first in both the West and Northeast regions. And Capital One moved from second to number one bank nationwide and in the South. “Good Banking means delivering Good Value,” says Maria Tedesco, Group Executive Vice President & Director of Business Banking at Citizens Financial Group. “Research has validated that this is resonating with our business banking customers.”
“This survey is important for bankers who want to know how well they provide small business banking relationships and for small businesses looking for a better banking experience,” says Frank Aloi, President of ath Power Consulting.
Banks were ranked on product and service knowledge, determining needs, ease of doing business and other variables.
The top ranking banks by region were:
- West: Chase, Union Bank of California, HSBC
- Midwest: Citizens, Harris Bank, Chase, Huntington Bank
- South: Capital One, RBC
- Mid-Atlantic: PNC, Capital One, BB&T
- Northeast: Chase, Citizens, Capital One
The highest rated banks were those who asked questions about the business and what matters most to the customer before making product recommendations. Business customers who spoke to a business banking specialist were significantly more likely to be asked these questions than were those who spoke to other bank personnel.
About ath Power Consulting
ath Power Consulting is a premier provider of customer experience solutions for the financial services industry, offering audit and mystery shop studies, surveys, market research, employee development and strategic brand planning. ath Power owns the largest database of financial services field representatives in the nation, and executes the largest number of proprietary banking audits. ath Power delivers increased sales results and heightened customer service — the cornerstones of differentiation in a crowded marketplace.