First Direct tops banks and building societies sector in UK Customer Satisfaction Index

9th May 2018

First Direct scored 86.1 in the latest UK Customer Satisfaction Index (UKCSI), putting it at the top spot of the banks and building societies sector.

Yorkshire Bank (the most improved organisation in the UKCSI), M&S and Nationwide were the next highest scoring firms. Yorkshire Bank scored 85.3, while M&S and Nationwide both received a score of 84.7.

The sector average is 79.8, while the UK all-sector average is 78.1.

Banks and Building Societies is the fifth highest scoring sector in the index. The sector now scores 1.7 points higher than the UK all-sector average of 78.1 and is 1.1 points above the insurance sector. Between January 2017 and January 2018, the average UKCSI score for banks and building societies improved by 0.3 points, the same level of increase as the UKCSI all-sector average. The average Net Promoter Score has increased by 3.7 points to 15.1. However, average satisfaction with telephone and email experiences each fell by more than one point.

Four banks – M&S, Barclays, Yorkshire Bank and Bank of Scotland – have improved their UKCSI score by more than two points since January 2017. But two have registered a drop of two points or more over the period, underlining the variety of performance in the sector.

Satisfaction with complaints handling in the sector remains the same as in January 2017 (5.8 out of 10), though satisfaction with the outcome of complaints fell (from 6.3 to 6.0). Around 2% of customers who contacted a bank or building society organisation about a problem used social media, the second-highest proportion of all sectors in UKCSI.

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