Americans’ dissatisfaction with most financial services has halted – at least for now.
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“Financial services took a hit in the eyes of consumers last year but managed to weather the storm for the most part”
According to the American Customer Satisfaction Index (ACSI) Finance Study 2020-2021 – which provides customer satisfaction benchmarks for banks, credit unions, financial advisors, and online investment – satisfaction with banks overall is stable at an ACSI score of 78 (out of 100), beating credit unions (down 1.3% to 76) for the third consecutive year.
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Following a dramatic downturn last year, customer satisfaction with the online investment category is steady at 78, while financial advisors rebound slightly, up 1.3% to a score of 78.
“Financial services took a hit in the eyes of consumers last year but managed to weather the storm for the most part,” says David VanAmburg, Managing Director at the ACSI. “Banks, in particular, are better positioned than most because of the industry’s years of commitment to – and investment in – digital offerings. Whether paying bills, transferring money, or checking your balances, banking has established itself as a super digital-focused enterprise that’s managed to successfully cater to a digitally engaged consumer base.”
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