Tuesday, October 30, 2018 Stamford, CT USA — Greenwich Associates today named five banks as 2018 Greenwich CX Leaders—a new designation created to recognize leadership in the increasingly important field of customer experience.
The 2018 Greenwich CX Leaders in U.S. Commercial Small Business Banking are CapStar Bank, First Republic Bank, and First Tennessee Bank. The winner in Commercial Middle Market Banking is First Tennessee Bank. The 2018 Greenwich CX Leaders in U.S. Retail Banking are Camden National Bank and United Bank.
“Good customer experience is easy to recognize, but can be difficult to deliver,” says Ron Balmer, Managing Director, Customer Experience at Greenwich Associates. “These CX Leaders have focused on creating great experiences for their customers and employees by placing their feedback at the center of everything they do.”
Outpacing the Industry in CX
Each year, Greenwich Associates interviews approximately 10,500 retail banking customers and nearly 24,000 key primary commercial small and middle market account owners and corporate decision-makers—including CEOs, CFOs and Treasurers—about their banks. That research provides a foundation of benchmark data on bank customer relationships that does not exist anywhere else in the industry. This industry-wide data set allows us to compare banks across a range of measures—including CX.
Greenwich CX Leaders in U.S. Commercial Small Business Banking, Middle Market Banking and Retail Banking are banks that achieve scores that exceed the industry benchmark by a specified margin, on an index comprising three questionnaire items:
- Overall satisfaction
- Likelihood to recommend
- Likelihood to continue using / Likelihood to switch
“Our mission is to help create and implement programs that deliver a culture of customer centricity,” said Jacqueline Vose, Greenwich Associates SVP and Principal in Customer Experience. “We partner with organizations that have decided to stop simply measuring and reporting, and are ready to evolve their CX programs to more effectively drive business outcomes.”
The 2018 Greenwich CX Leaders in this, the inaugural year, were chosen from the list of Greenwich Associates clients in CX. Going forward, any bank that applies for consideration and meets the requirements will be eligible for the designation.