News: Customer Service/Care
Credit providers 'would do well' to boost customer care training
05 November 2008
Customer service training is needed for staff in a number of the UK's credit card companies, according to a new assessment of the industry.
The US-based CFI Group released its first National Customer Satisfaction Index for the sector this week, revealing that HSBC (including First Direct) is currently top for customer care, but Barclays scores below the industry average.
Lloyds TSB was found to receive the largest number of customer complaints and to be "poor" at handling them, while the RBS Group (Royal Bank of Scotland, NatWest and Mint) scored lowest for customer confidence about the security of personal details.
Patrick Barwise, emeritus professor of management and marketing at London Business School and adviser to CFI in the UK, remarked that credit card providers "would do well" to address the high level of complaints across the industry, suggesting that customer care training could be of considerable benefit.
"These [complaints] should be used to drive service quality improvements and create a more positive customer experience," he added.
Sheri Teodoru, chief executive at the CFI Group, noted that research has shown "keeping customers satisfied" improves retention in addition to driving stock performance.
Last week, independent professional body the Institute of Customer Service reiterated calls for business leaders to step up customer service training efforts during the economic downturn.
