December 14, 2016
Toowoomba-based Heritage Bank has topped Australia for customer satisfaction in a new study by a global market research firm.
Last Thursday analysts JD Power released the results of their first Australia Retail Banking Satisfaction Survey, which took place in October and November.
The survey is part of a series of national satisfaction surveys the company has conducted in North America and Asia.
The study was based on responses from 4765 retail banking customers and measured customer satisfaction with their main financial institution across six key factors: account activities, account information, product offerings, fees, facility and problem resolution.
Heritage Bank recorded the highest score of any financial institution in the country, with a tally of 829. The next best were Greater Bank, People’s Choice and CUA.
Heritage also scored highest in two of the six categories: product offerings and fees.
By comparison, the Commonwealth Bank scored the best of the four majors with an overall score of 754.
Heritage Bank CEO Peter Lock said the result reflected the bank’s determination to place the customer’s interests at the heart of everything they do.
“It’s extremely rewarding to receive recognition from an independent third-party that reflects the views of those people who really matter in the end – our customers,” he said.
“Topping the customer satisfaction score is an endorsement of our vision of being passionate about helping people, and our mission of delivering a great customer experience every time.
“I’m very proud that we’ve been recognised as Australia’s leader in customer satisfaction in the banking sector.”
The JD Power report is the second time this year Heritage Bank has won a customer satisfaction award.
In June, Canstar Blue announced Heritage was the winner of the 2016 Challenger Bank award for the most satisfied customers.
Heritage outscored Bendigo Bank, BOQ, ING Direct, ME Bank, St George, Suncorp, UBank, Teachers Mutual Bank, BankSA, Bankwest, Citi Australia and HSBC to take out the Canstar Blue award, which excluded the four major banks.
It was the second time Heritage Bank had won a Canstar Blue award.
The bank also won top place in market research firm Roy Morgan’s Queensland Satisfaction Survey in December 2015.
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