The tenth annual world retail banking report (WRBR) reveals perceptions of 18,000 customers in 35 markets globally.
According to the report 10% of customers are likely to leave their bank, with an additional 41% unsure if they will stay with their current bank over the next six months.
The data revealed country variations in relation to positive customer experience, with 11/35 markets revealing an increase in positive customer experience and nine with a decline.
Positive customer experience has been found to be strongly correlated with the trust customers place in their banks and customer belief that their banks have a good understanding of their needs.
Jean Lassignardie, chief sales and marketing officer at Capgemini Global Financial Services, said: "With half of retail banking customers globally not feeling loyal to their bank, it’s clear that banks need to close the gap and build customer-centricity into their DNA."
‘Quality of service’ emerged as the single most important factor driving customers to switch banks across most regions. The data revealed that approximately 50% of customers or less are satisfied with their banks in the areas of: knowledge of customer’s needs and preferences; product-channel fit; trust and confidence; intimacy and relationship building; and providing a consistent multi-channel experience.
The WRBR also shows that mobile banking is not only a key tool for banks to drive customer centricity but that customers are increasingly expecting more from their banking apps, such as balance transfers and bill payments as well as balance checks.
Patrick Desmarès, Secretary General, Efm, said on mobile banking: ”The future of retail banking is mobile banking. By the end of 2013, there will be more mobile devices than people with a predicted 10 billion mobile connected devices amounting to a global average of 1.4 mobile devices per capita. Banks need to go where the opportunity is – and that is mobile."
The WRBR is released by Capgemini and Efma.