SINGAPORE, Sept. 20, 2021 /PRNewswire/ — Citibank was ranked as the top bank for the first time in an annual Singapore customer experience study by global research and advisory firm Forrester released today. The bank took top spot in the Forrester Singapore 2021 Customer Experience Index (CX Index™), which focused on the quality of customer experience among the financial services brands in the banking and automotive/home insurance sectors.
Citibank showed best-in-class performance in all four critical CX drivers for the banking sector in the study, and also outperformed its local peers for brand-related metrics.
Brendan Carney, CEO of Citibank Singapore and Global Consumer Banking ASEAN Cluster Head, said: “At Citibank Singapore, we are obsessed with creating exceptional client experiences. We work every day to make banking faster and more convenient for our customers, whether they are meeting with our dedicated team of experts in Citi’s newest and largest wealth center at 268 Orchard Road or using our intuitive mobile app, which 75% of our customers access every month. And these great experiences begin right away, since new customers can start spending on their digital credit card within minutes of applying.”
Mobile Engagement and Client Obsession are Citibank Singapore’s two main thrusts in powering a client-centric experience. This is reflected in the initiation of more proactive client engagement for wealth management and improving the Cards’ onboarding process this year.
The various initiatives resulted in the bank’s Net Promoter Score (NPS) – another measure of customer loyalty and satisfaction – across its Cards, Wealth and Digital businesses rising 35% as a whole in 2021 from end-2020. The higher customer sentiment is a key reason for the bank’s 88% jump in new client referral rates in 2021.
A similar picture is seen across the Asia Pacific and EMEA region, with more than 20,000 customer friction points removed since 2019, driving a 50% reduction in total complaints. This has resulted in an 17% increase in Digital NPS, and an 24% increase in Cards and Wealth NPS so far in 2021.
Simon Pomeroy, Citi’s Global Head of Client Experience and Asia Pacific and EMEA Digital Head, said: “Our ability to get the basics right and deliver a reliable, fast and convenient experience across all of our channels, then go the extra mile to delight our clients has clearly resonated in Singapore. There has been no better time than over the past 15 months to accelerate solutions that benefit our clients in a remote environment, and we’ll continue to double down on delivering exceptional digital and relationship-managed experiences.”
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management
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