Forrester's (Nasdaq: FORR) 2023 Malaysia Banking Customer Experience Index (CX Index) reveals that banks in
Based on a survey of more than 1,800 customers, the report analyzed six multichannel banks in
According to the report, the overall perception of CX quality in banking is dependent on a combination of 33 drivers in seven broad categories. To continue to improve on the quality of their customer experience, Malaysian banks need to focus on making the following improvements to three particular categories:
Improve banking services. This category is the core of what customers expect banks to deliver - offer financial products and services that fit their needs, process transactions quickly, open an account easily, and protect their accounts from fraud. While 62% of the customers are happy with the overall quality of banking services, Malaysian customers think that this is where banks should focus to improve CX.
Deliver exceptional customer service. When Malaysian banking customers call customer support, they expect access to empathetic live agents, answers to all their questions, and quick resolution to their problems. Currently, only 61% of Malaysian banking customers are happy with the customer service they receive.
Invest in branch banking. Branch experiences are still very important to Malaysian banking customers. When visiting branches, customers look for welcoming environments, convenient hours, short wait times, and helpful staff. Malaysians' continued reliance on branch banking, amplified by the national prerogative to ensure sufficient financial access points, calls for more CX improvements at the branches.
'Forrester's CX Index uses survey responses from customers to determine which drivers have the greatest impact on loyalty,' said
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