Dive Brief:
- JPMorgan Chase saw record customer satisfaction across branch, digital and phone channels for its consumer and community banking segment last year, the bank reported in its presentation to investors Monday.
- Four in 5 primary bank customers said they would recommend Chase, according to the bank’s One Chase Net Promoter Score survey.
- Among primary bank deposit customers and highly engaged card members, the bank reported a NPS score of 65.
Dive Insight:
Chase has strategically invested in brick-and-mortar storefronts at the same time it’s worked to improve its digital banking.
Digital and in-person services complement each other to meet customer needs and grow engagement, Sonali Divilek, then head of digital products and channels at Chase, told CX Dive in February.
“Customer insights and preferences drive our innovation,” Divilek, who became head of digital in March, said. “We want to make sure [app] users can easily find what they are looking for while also having more options to access all Chase has to offer and improve their financial health, and complement conversations and advice they may also get during a visit to a branch.”
Chase launched several features over the past two years that have driven increased engagement, such as Chase Travel, a credit score planning tool and wealth plan, according to the bank’s presentation.
Chase said it’s opened 166 branches and has committed to opening more than 500 new branches in the next three years.
By offering Chase customers a variety of services — from payments to financial health management — and channels through which to reach them, Chase has been able to foster loyalty. The bank reported a primary bank customer retention rate of more than 95%.
