The Institute of Service Excellence (ISE) at the Singapore Management University (SMU) (新大卓越服务研究院) today released the Finance and Insurance industry sectors findings from the Customer Satisfaction Index of Singapore (CSISG) 2021 national study on 30 Mar 2022.
The latest results showed that customer satisfaction with the Finance sector increased year-on-year by 1.2% to 74.8 points, based on a 0 to 100 scale. This performance was derived from its three constituent sub-sectors: Banks, Credit Cards, and e-Payment Apps. The Banks sub-sector scored 74.9 points, a 1.2% increase year-on-year, while Credit Cards scored 73.2 points, a 0.7% increase. The e-Payment Apps sub-sector was a new inclusion this year, scoring 77.0 points. In contrast to the Finance sector, the Insurance sector registered a marginal 0.4% decrease from the previous year to score 73.5 points.
These customer satisfaction scores also marked the final set of industry results for the 2021 CSISG study. Combined with five other service industry results released last year, namely, Retail, Info- communications, Land Transport, Food & Beverage, and Tourism, Singapore’s national customer satisfaction score for 2021 stands at 73.8 points, a small 0.3% dip compared to 2020. These year-on- year changes were not considered statistically significant.