By Scott Thompson
The RBS IT meltdown has had a detrimental impact on customer satisfaction levels across all UK banks.
A new survey, carried out from 11 – 24 June by social monitoring and engagement company, Brand Embassy, shows that confidence levels have plummeted to an all-time low. It also highlights how customers are increasingly using social media to share their banking frustrations, with many opting for online forums rather than contacting their bank directly.
The RBS IT meltdown meant that NatWest’s customer satisfaction score suffered the most, decreasing by 13 per cent between May and June. Furthermore its slow response to participate in online discussions about the cause of the problem made matters worse, with rumour and speculation creating a spiral of negative sentiment.
Key survey findings include: The number of (mostly negative) online mentions about NatWest’s parent company, RBS, increased four-fold over the previous month; A 100 per cent + increase in the number of online postings about UK banks with an increase in negative sentiment, compared to the previous month; 95 per cent of customer complaints were published on Twitter; 52 per cent of posts seeking help or advice related to their UK bank were tracked in online discussion forums; 48 per cent used Twitter.
Vit Horky, CEO at Brand Embassy, says: “These results highlight that the UK’s banks need to improve the way they communicate with their customers on social media, wherever they are and whatever they are saying. This includes monitoring what their customers are talking about and where appropriate, responding in a timely manner.”