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‘Never Underestimate the Importance of the Bank Manager’– Gallup CEO
Jim Clifton, CEO & Chairman, Gallup, reveals that despite advancement in mobile and online Retail Banking, the employee and customer encounter, in particular with the Manager, is still a significant factor for an engaging banking experience.
Washington, D.C. (March 31, 2014) – ‘Technology, in particular mobile and online, is already playing a significant role in the lives of American consumers’ outlined Jim Clifton, CEO & Chairman, Gallup at CBA LIVE, the Consumer Bankers Association annual conference for retail banking industry leaders, ‘but Gallup research highlights that although every channel matters when engaging a banking customer, a positive and engaging interaction between a banking professional and customer is still key to long term success’.
Gallup data released in March, 2014, reveals that when a branch user is “extremely satisfied” with their most recent visit, their probability of being a fully engaged customer increases by 14% compared with a customer who doesn’t use the branch (and also controlling for all of the other channel experiences that customer had with their bank).
Conversely, when that branch experience is anything less than extremely satisfying, the customer’s probability of being fully engaged is actually 19% less than those who don’t use the branch at all.
Clifton encouraged banks to continue investing in the human touch points, consider a true multi-channel strategy which put the customer at the center of the banking experience, but most importantly he urged Banking Leaders to understand the gravity of the most important decision a leader can make – who is named manager: “Great managers supercharge everything - they drive trust with employees, customers, and the community; they help the economy grow, they foster innovation, and cause business results to flourish’ highlighted Clifton.
Commenting on Clifton’s presentation President and CEO of the Consumer Bankers Association, Richard Hunt outlined, ‘Our members play a critical role in helping consumers realize their dreams and potential, and we are proud of the deep connections our banks share with their customers and their communities.”
The Consumer Bankers Association (CBA) is the trade association for today's leaders in retail banking - banking services geared toward consumers and small businesses. The nation's largest financial institutions, as well as many regional banks, are CBA corporate members, collectively holding two-thirds of the industry's total assets. CBA’s mission is to preserve and promote the retail banking industry as it strives to fulfill the financial needs of the American consumer and small business.