Bad banks don’t prioritize quality customer service; Recent research by Mitto indicates

Some clients would rather visit their dentist than their local bank branch after negative experiences have ruined the relationship; according to a recent consumer survey published by Mitto.

The Swiss provider of omnichannel communication solutions looked at the preferences of 1,000 American customers for communicating with their bank. The results revealed that a third of respondents would rather take an uncomfortable trip to their dentist than interact with their bank following a negative encounter.

More than two-thirds of respondents said they had an average or positive experience with their bank when it prioritized customer support, while poor support was the biggest proponent of a negative experience (33%) , followed by poor communication methods (24%). ).

Andrea Giacomini

Stating that quality customer support is the consumer’s highest priority when interacting with brands and especially financial services, the company’s CEO Andrea Giacomini recommends that “brands should continue to evolve the way they communicate with their customers to ensure a positive experience.”

He added, “By partnering with the right solution provider, financial institutions can access technology that allows them to engage with customers on their preferred channels, support real-time interactions, and ensuring fast response times, which our survey indicated were the top consumer preferences in providing a positive customer experience.

Channel preferences and SMS for 2FA are essential

Banks must have the ability to converse with customers on their preferred channels, from text messages to chat apps and social media, as nearly 90% of consumers found this important.

But the speed of these conversations is also critical and SMS has proven to be the preferred channel for quick responses. For quick and spontaneous interactions, including two-factor authentication (2FA) and banking alerts, nearly half of all respondents preferred text messaging over email or phone calls.

Similarly, given the sensitivities of financial institutions, 2FA via SMS has become a key element of fast security since three-quarters of respondents’ banks use this security element.

Although, to make consumers feel even more comfortable shopping and transacting online, 86% would prefer banks to confirm their identity for major purchases, and 47% want confirmation for all purchases. over $200.

Joseph P. Harris