Indian banks score 68 in global study
Posted on: 09/Jul/2015 10:13:03 AM - No. of views : (2892)
A study on banks globally was conducted by a firm called FIS. FIS is a US based firm that leads in banking and payment technology. According to the study, Indian banks excelled in more ways than one when compared to others around the world. The total score given to Indian banks was 68. Although lower than the global average of 73, banks in the country scored on key aspects.
For one, Indian respondents rated bigger banks higher than smaller ones, especially when it came to factors like security. On the other hand, American respondents preferred smaller banks to bigger ones. The younger customers were happy with the ability to connect to banks from anywhere and at any time. Other wins were connectivity, digital payments and omni channel access, that is the ability to access the bank through more channels than one.
However, one key factor in which Indian banks did not fare well fairness and reliability. According to the study, �This is important because fairness and reliability represent two of the most important attributes in building trusted relationships with customers... Globally too, banks fall short in basic banking services such as fair and transparent pricing though they excel at providing digital access and convenience. There is great opportunity for banks to win consumer support by packaging rewards programmes with personalised, customised banking products to meet customer needs... Banks should reset the foundation for consumer relationships and forge deeper relationships via the digital experience by fully leveraging online, mobile and social platforms to integrate with consumers� lives through insight-driven alerts, advisory services, planning tools and more.�
