UK Money News
5th February 2008
Banks offering poor service online
UK banks and building societies are providing a poor standard of service to customers conducting their banking online, it has been revealed.
IBM and software provider Kana Software’s report Online Customer Service: International Finance Services surveyed the service being provided for online transactions by 52 UK-based financial institutions.
The report found that that customers approaching their lender via email with a query either given the incorrect answer or not contacted at all in 53 per cent of cases.
Marchai Bruchey, chief marketing officer at Kana, said: "With internet access in nearly 16 million UK households, there is a growing customer demand for a quality online experience, and more consistency between web and branch.
"Any business that ignores online communication channels does so at their peril - in the competitive world of retail banking, this is especially true."
The study also found worrying low security standards being applied online by financial institutions, with 29 per cent having no encryption or secure channels for online communication – potentially leaving millions exposed to cybercrime.
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