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Customer satisfaction in 2017 hit new high at 72.9 points

2 Apr 2018

SMU’s Institute of Service Excellence (ISE) released the results for the 2017 Q4 Customer Satisfaction Index of Singapore (CSISG) study of the Finance & Insurance and Healthcare sectors, as well as the 2017 CSISG national score. The CSISG hit 72.9 points out of 100 – its highest since ISE set up the index in 2007. The index was 1.1 points up on 2016, driven by strong fourth-quarter performances in the finance & insurance and healthcare sectors. Bank customers surveyed gave high scores for digital banking channels, such as online and mobile. Almost 90 per cent of digital banking users surveyed were aged 18 to 49. In the healthcare sector, scores were up from 2016 for waiting times at restructured hospitals, polyclinics and private hospitals. However, they remained low for waiting times for medical tests and seeing a doctor.

ISE also revealed that customers who used internet banking and mobile apps are more satisfied and loyal. The satisfaction and loyalty scores among those who used internet banking or mobile apps were more than 2 points or 3.1% higher than those who did not use these channels. In addition, customers who used these digital channels also have on average a higher number of products held with the same bank.

ISE Executive Director Neeta Lachmandas commented, “There appears to be a positive relationship between usage of digital channels and higher scores across various customer metrics including satisfaction, loyalty, and the number of products held with the bank. This is certainly an encouraging sign for banks that have been pushing for digital adoption.”

Singapore Business Review Online

Last updated on 03 Apr 2018 .