Research of client needs
Surveys performed in 2016 focused on the key factors affecting recommendations in the area of the offering, image and service quality. 53% of respondents would recommend Bank Millennium to another person and NPS ratio indicating the willingness to recommend the Bank’s products and services by retail clients has increased by 8 points.
53%
of respondents
would recommend
Bank Millennium
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| 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|
| NPS ratio* | 39 | 31 | 33 | 32 |
*indicates the willingness to recommend the Bank’s products and services by retail clients
Service Design for high quality of customer service
In 2016, the activities improving the quality of customer experience with the bank were continued with the use of the Service Design methodology. It is a methodology for designing solutions created through an in-depth understanding of client issues and needs achieved following an analysis of successive steps that they must go through to use a service. In the past, this methodology was used to create a customer service model for a customer opening an account and a credit products sales model. Now, a model has been designed for talking to the customer about savings and investment products.
The model organizes a consultant’s conversation with a client about savings and investments using the tools used during the discussion (Rainbow to analyze client’s expectations and ABC Board to present an offer). It organizes and streamlines the conversation about difficult and diverse savings and investment products. This model guarantees that the conversation and the presentation of the product offering conducted by a Bank employee is conducted in an honest and ethical manner, while complying with all the formalities required by the law.
The implementation of the model was accompanied by an extensive training program attended by more than 3000 branch employees.
The solutions we rolled out in the quality of service area have contributed not only to enhanced customer satisfaction but also to market recognition. In 2016, Bank Millennium was recognized in the most prestigious Newsweek’s Friendly Bank ranking (as the only bank earning a top 3 spot in all four categories: mortgage, Internet, traditional and mobile banking), Quality You Can Bank On (“Jakość na bank”) and the Quality Star (“Gwiazda Jakości”) rankings.
Market trends research – Millennium Generation report +
In 2016, Bank Millennium published a report entitled Millennium Generation in the World of Finance and New Technology compared to Generations X and Z.
The purpose of the report was to increase knowledge about a generation, the consumer decisions of which are becoming more and more significant. In designing its services and products, the financial services industry has been increasingly taking into account the needs of people aged 16+.
This generation has been stereotyped many times but it is increasingly displaying its diversity, abolishing many myths in the process. Bank Millennium, as an institution promoting innovation in all areas of its operation – from its offering to organizational culture – has decided to examine attitudes of the young people to technology and finance. Generation Y (and the younger Millennials in particular) has been accustomed to computers and mobile phones since its early youth. How does it affect their financial habits and consumer behavior? Is their use of banking services much different from what their parents prefer? These and other questions should not be left unanswered in the times when the Millennium generation is becoming the most numerous group of consumers on the market.
Customer Satisfaction and Service Quality Surveys +
The Bank has been monitoring customer satisfaction and service quality on a continuous basis. To fully understand the needs and expectations of our clients, we are going beyond the traditional qualitative and quantitative research methodologies, turning to new methodologies such as service design, ethnography or UX instead. We are also looking closely at trends and consumer behaviors outside of the banking sector. The survey activity includes regular internal monitoring and external benchmarking against the key competitors. In addition to the general opinion about cooperation with the bank, all the contact points between the client and the bank are evaluated: contact channels (outlets, Internet, phone calls and mobile banking) and people (e.g. relationship managers). Some survey projects are not executed regularly but are flexibly adjusted to the emerging business needs.
3900
Mystery Shopping visits
Quality and Satisfaction Survey
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| Quality and Satisfaction Survey | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| Surveys conducted | 24 | 24 | 15 | 10 | 16 |
| Number of customers surveyed | 39551 | 65 207 | 102 000 | 138 743 | 130 201 |
| Number and % of responses | 8486 (21%) | 25 070 (38%) | 34 000 (33%) | 35 336 (25%) | 28 355 (22%) |
| Number of Mystery Shopping visits | 3900 | 4000 | 4200 | 4300 | 4800 |
Bank's Strengths +
92%
Customers satisfied with their cooperation with the Bank
Customers satisfied or very satisfied
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| Customers satisfied or very satisfied | 2016 | 2015 | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|
| with their cooperation with the Bank | 92% | 89% | 87% | 90% | 89% |
| with the product offering | 89% | 83% | 84% | 85% | 83% |
| with service quality | 95% | 92% | 89% | 92% | 91% |
The clients have recognized the following as the Bank’s strengths: high customer service quality (especially in outlets), modern solutions (in Internet and mobile banking), competitive offering and transparency and reliability.
Customer service staff in the outlets is perceived as pleasant, competent and caring for clients. In order to maintain the high service quality level, the Bank has continuously conducted the Mystery Shopper survey. The quality of electronic channels has also been assessed very favorably. The customers appreciate the range of available functions, ease of use and security.
Research directions +
The popularity of digital channels changes customers’ behavior and needs, and entails the need to make modifications not only in the Millenet Internet service and in the mobile application but also in the traditional channels.
Based on the ethnographic survey of the New Outlet Format, cash self-service zones, digital tools and the new service model are implemented.
[GRI 102-43]