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Key Customer Stats for Financial Service Companies

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The following stats are from Five9’s e-book, What Do Financial Service Customers Want from a Contact Center?


Five9 recently conducted a study to reveal what customers want most from their financial institutions. What we uncovered were three major themes that dictate customer satisfaction – Accessibility, Understanding and Security.


Here is a list of our key stats:


  • 38% of customers are frustrated with one or more of their current financial service institutions.


  • Frustrations included: (43%) difficult phone/web navigation, (37%) long hold/wait times, (34%) lack of account familiarity or personalization, (24%) lack of agent availability, (13%) denial of funds.


  • 44% of financial service customers rarely (29%) or almost never (15%) visit physical banks or other financial institutions.


  • 43% of customers prefer to call when they have questions about their finances.


  • Financial service customers believe the following assets are most necessary from financial institutions: mobile friendly sites/applications (60%), text alerts (38%), automatic routing to best available agents (30%), multichannel access (28%)


  • 20% of financial services customers report having issues accessing their information either sometimes, often or very often.


  • 59% of financial service customers would be willing to add an additional password to their financial account, sacrificing speed of access for security.


  • 34% of financial service customers report a lack of account personalization


  • 40% of financial services customers don’t believe their financial information is secure and 36% have experienced a breach in financial security.


  • 1 in 10 financial service customers have investments outside the U.S. 

Customers expect their financial institutions to be global, low-cost, digital and multichannel. They want their phones programmed as their personal financial fitbit. They want apps to track their assets and help them quickly exchange dollars without physical bills. More and more, customers demand web services to measure finances, credit, insurance, etc., and provide programed alerts. They want all the trappings of the digital world, meshed together with traditional financial services.


Want more insight into what you can do to better serve your financial services customers? Download our e-book for a complete breakdown of our study along with tips and tricks to improve your business!


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Call 1-800-553-8159 to learn more about Five9