Dive Brief:
- Bank of America scored the best desktop user experience, followed by U.S. Bank and Wells Fargo, according to Keynova’s Online Banker Scorecard for Q2 2024, which analyzed the 18 largest banks in the United States. The tracker analyzes banks’ development of digital and live service options as well as online account summary dashboard improvements.
- Banks are improving their omnichannel experience, blending customers’ digital experience and live agent assistance, the report found. Nearly three-quarters of banks offer chatbots for customer service inquiries. Two-thirds of those banks will transfer customers to a live agent if the chatbot cannot answer their question within two attempts.
- “Bank of America has been a longstanding leader in its digital customer experience with balanced strengths across a robust set of online banking capabilities and services including electronic alerts and usability best practices, as well as its customer-facing privacy and security elements,” Susan Foulds, managing director at Keynova Group, said in an email. “Their online banking account management excels with its information and reporting, payments and transfers, and self-service options.”
Dive Insight:
Bank customer service regularly rates highly compared to other industries, but banks are still working to strike the right balance of digital self-service options and access to live representatives.
More banks are offering digital access to a representative, with two-thirds offering live chat for authenticated customer service. Half of these live chat options also tell customers their queue position for chat or an estimated wait time.
But there are gaps: prospective customers have less access to live help.
Only 2 in 5 banks offer live chat assistance for prospective customers and just a third offer customers looking to open an account a phone number for assistance from a representative.
Keynova found that banks have expanded personal finance content and guidance for customers of varying financial health. Personalized financial advice is a key aspect of bank customer experience, increasing satisfaction and trust, a June J.D. Power study found.
