We believe that businesses’ fundamental purpose is to create value for their customers. We think the best way to achieve customer centricity is to cooperate with organisations, identify problems and provide solutions. Through high-quality research and rigorous analysis we gather data that informs policy, business models and customer decisions.

 

The Rate Your Bank Questionnaire is one facet of providing these solutions. It is a survey that assesses the full range of customer facing dimensions. That is every point of interaction between a customer and their bank or building society. We ask questions that address how well the particular bank or building society is doing across these dimensions and at every stage of the customer experience. We also ask questions that identify consumer expectations from the industry as a whole.

 

We compile the data into a comprehensive scoring system. Each answer denotes a positive, neutral or negative response. The scores provide overall rating for each question, category and company. The scores range from 1 to 100 and reflect how satisfied customers are with their experience. The results enable us to compare performance between companies and across all dimensions.

 

We can see the specific stages and dimensions that customers are most satisfied with and which areas need improvement. In order to gain a textured understanding of consumer outcomes we examine the range of responses for specific questions and the disparity between different banks and building societies.The aim is to get an insight into individual performance and an understanding of the industry. In short, depth and breadth. To find out more about the results to date go to our analysis page.

 

The questionnaire acts as an assessment tool, like a diagnosis. We are able to identify the organisations strengths and weaknesses. Customer answers are completely anonymous however we want to make sure that everyone benefits from our research, most of all the customer, so our results are open source. The results are published on the Rate Your Bank website so other customers can make informed decisions.