(30 July 2008 – Australia) East & Partners’ has released the latest Business Banking Customer Satisfaction (BBCSM) Report for June 2008, which shows that online banking is now the most used channel by businesses.East’s BBCSM is based on interviews with 850 business customers every month (10,200 annually) turning over between A$5 and 500 million per annum.
The latest report shows online business banking is now the most widely used channel with 56 percent of business customers using this channel. In all of East’s previous BBCSM reports, the Relationship Manager has been the most popular channel.
While usage of the Relationship Manager has steadily increased, Online Business Banking has grown dramatically this year rising in usage by just under 20 percent since the beginning of the calendar year.
The biggest challenge for the banks is to ensure that channel customer satisfaction grows in line with channel usage.
While customer satisfaction for Online Business Banking has grown steadily this year, the channel still only achieves an overall rating of just 4.38 (using a scale with a low of 0 and a maximum of 10).
This relatively low rating makes this channel one of the poorest rated by business customers of all the channels analysed in the BBCSM.
The next release of this report is due in August 2008 and will continue to analyse customer satisfaction metrics amongst business banking customers.