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2018 Financial and Social Report

Bank Millennium treats client needs at the center of its interest; that is why it is so important to identify them. The key to designing the best experience is gaining a profound grasp of client needs (empathy). To identify and grasp evolving needs, comprehensive client opinion research is conducted regularly in the Bank’s main contact points (e.g. branch, information line, internet). There are nearly twenty thousand interviews conducted annually. Complaints are also subject to analysis to identify areas requiring improvement.

A specialist research team is at work in the Bank. This team uses a broad array of research techniques and methods – ranging from standard quantitative questionnaires to qualitative interviews and online qualitative research and ending with more specific research such as UX research, ethnography (also utilizing elements of behavioral economics). The research also supported the projects carried out under the Service Design methodology, where the full understanding of client needs is of crucial importance.

The findings in client research are translated into project guidelines and subsequently into measurable ratios that are tracked on a constant basis. Discovering client expectations is the constant starting point for each and every project aimed at changing a process, product, communication or the client service model in Bank Millennium. Before implementation the solutions we design are formulated as prototypes and tested in research and conversations with clients.


Quality and satisfaction survey
2018 2017 2016 2015 2014
Surveys conducted 27 21 24 24 15
Number of customers surveyed 104,822 31,493 39,551 65,207 102,000
Number of Mystery Shopping visits 3,500 4,065 3,900 4,000 4,200

The satisfaction and level of recommendations among retail clients in internal research stayed at a very high level in 2018, with a Net Promoter Score (NPS) of 51 and 93% satisfied clients. Similarly to previous years, clients point to high quality of service (especially in branches), competitive offer (chiefly the 360 account) and modern solutions (mobile and internet banking) as the bank’s strengths. Clients who use the mobile application are particularly appreciative of the Bank – for these clients, the NPS ratio is 61 (versus an average NPS of 51). Among all the contact channels, these are the highest rated electronic channels – 97% of our clients are satisfied with internet banking and with the mobile application. In order to maintain its high service quality level, the Bank constantly runs Mystery Shopper research.

2018 2017 2016 2015 2014
NPS ratio* 51 51 39 31 33

* indicates clients’ willingness to recommend products and services. These data refer to the Bank’s internal research and pertain to retail clients.

Certain Group companies conduct client expectation surveys on their own, e.g. the Millennium Brokerage House collaborates with the Individual Investors’ Association on the project entitled Nationwide Investor Survey. The research findings are used not just to define the investor profile but also to identify investor needs and preferences. Millennium TFI offers its products through distributors of participation units and does not have direct contact with clients. Client expectations are identified through the TFI’s relations with distributors.