Globally, the Financial Services sector rated average and came first in New Zealand only. In the Czech Republic, the growth recorded previously is resuming this year after a slight decline in 2021. According to the overall CEE score, it is slightly above the market average, this year even catching up with the imaginary winners in the sector rankings. Financial Services placed third, just behind Non-Grocery Retail, and Restaurants and Fast Food. The doubling of NPS scores compared to last year indicates increasing confidence in the Financial Services sector. Brand loyalty is rising, and more and more clients would recommend “their” brands to loved ones.
Financial institutions win customers through a human approach, effective and proactive problem solving, and clear communication. This year, such factors helped Air Bank defend its sector leader position and explain Česká spořitelna’s leap to take imaginary bronze among “love brands”. Users commented positively on being able to carry out tasks online, and they welcome easy-to-navigate applications and digital tools. This finding is additionally borne out by the position of one of the leaders in the sector, the PayPal payment service.
The focus of many financial institutions on simplicity of communication and an intuitive approach is also reflected in the rankings of individual pillars. Time and Effort leads, followed by Integrity, in which the financial sector is the third best. In the worst-rated pillar over the long term, Empathy, all sub-sectors improved, including loan providers, which are labelled “unpopular”. Such a development may mean a pledge in the future to improve the sector to the level of empathy the customer needs.
This year, Air Bank once again defended its sector leader position. It also held at least a 10 per cent lead in all pillars and a 12 per cent margin in the CEE metric. Only the American company USAA achieved a greater advantage over the other banks. Air Bank customers continue to value simplicity, clear and understandable communication, and the option to manage almost everything online without unnecessary paperwork. They also appreciate the friendly and helpful approach of the helpline and branch staff. Additionally, customers welcome the speedy resolution of issues, especially when the bank proactively notices a “problem” and provides timely assistance.
Air Bank offers banking services and investment opportunities in an understandable and often informal format. Clients appreciate that investments are easy to navigate, through the Portu platform, and that they can check their status in the MyAir application. Increasingly, investment opportunities are thus opening up to young customers too, is evidenced by the marketing of Portu through YouTuber Kovy. Consequently, the service attracted thousands of new clients.
This year, Fio banka continued to occupy the number two position in the Financial Services sector. Clients perceive the purely Czech brand as being for “ordinary people”, with an easy-to-navigate service, no charges, and helpful staff at branches. They also like being able to manage their finances and investments via an online portal. Customer evaluations highlight the simplicity and clarity of the services, particularly internet banking, which has intuitive handling.
„I was expecting a package and received a text demanding CZK 50. But I realized that I had paid everything already. Then I noticed it was a foreign number, and the bank immediately blocked my card because of suspicious transactions. I’m really pleased with the bank.“
Woman, 33, Air Bank
„Doing your banking online is a positive experience. Everything is always clear to me here, the app is simple, and I have no problems with it.“
Woman, 72, Fio banka
„I invested in Fio banka shares. I did it all online and without any hassle.“
Man, 36, Fio banka
„I’ve been a Česká spořitelna customer for a long time. The staff are very accommodating and professional. Although I use internet banking, I like to see my adviser when I don’t know how to deal with a problem.“
Woman, 71, Česká spořitelna
„Interesting products for evaluating savings, long-term satisfaction, easy-to-navigate internet banking, and simple handling, whether from a PC or a phone.“
Man, 48, Česká spořitelna
In previous years, Česká spořitelna had already consolidated its reputation as a traditional institution, yet it moves with the times, and in many ways is ahead of “internet banks”. The willingness and professionalism of advisors, the openness and clarity of communication and, last but not least, modern internet and mobile banking make it a leader in evaluations by customers. Although Česká spořitelna is a large, traditional bank, it clearly knows its customers and understands them well. The proportion of digital technology to human interaction is correctly balanced. From the experiences of satisfied clients, Česká spořitelna emerges as a reputable bank for a wide range of customers, who visit the branch any time, not just when things are the “worst”. And they are happy to do so.
Česká spořitelna continues to boost digitalization and intends to become a “paperless bank”, evidenced last year, for example, by the increased charge for paper statements. A positive impact in this direction is the constant streamlining of internet services and an omnichannel approach, so that everything works on all types of devices.
Moneta is another traditional bank, but it has long been striving to be the digitalization leader. Its popularity among clients has been growing for the third year running. This year, it also improved in the Empathy pillar, which is not one of the best rated. The product innovations introduced in 2022 – arrangement of mortgages online, the option to cancel products, and a new version of the family account – promise potential growth.
Raiffeisenbank rocketed up the rankings, confirming its position as the absolute climber in this year’s study. In the cross-sector comparison, it jumped 50 places; in the financial sector, it improved by three places and achieved record values in both metrics (CEE and NPS). After an acquisition (in this case Equa Bank), the improved customer experience is exceptional because establishing all the systems and catering to different groups of clients are certainly not easy. The bank’s change of strategy ensured the spectacular comeback: Raiffeisenbank is now focusing on a much wider target group.
Furthermore, getting closer to clients is excellently illustrated by the SAMOZŘEJMĚ campaign, which shows that the finance world can elicit positive emotions. Clients and the situations in which banking services make their everyday lives easier play the main role. Examples include an account with no charges, and free withdrawals from all ATMs, including those abroad. Such features are still not offered as standard by all banks, and Raiffeisen is clearly indicating where the future of financial services lies.
ESG will become an increasingly significant driver of change. Financial institutions will try to adapt to the situation, so we can expect a change in business models, development of the banking-as-a-service concept, a data economy, the development of platforms and ecosystems, and greater cooperation between market players. Democratized data is already shifting power in the financial system and changing the economics of financial services. Rapidly changing regulations, inflationary pressures, the shock of the energy crisis and the deteriorating solvency of households are changing risk profiles. The most in-demand qualities will be an ability to respond swiftly to changes and understand the difficult situations in which customers find themselves.
„At the savings bank I have a personal banker who always informs me about news that might interest me. My children’s debit cards are about to expire, which my banker told me about.“
Woman, 72, Česká spořitelna
„I sorted out the account statements. They had my name wrong and a different address. I tried to change them online but was told I had to visit a branch. I had already done that some time ago, but the change hadn’t been made anyway. The overall experience of this bank wasn’t very good. I’m using another bank, which will probably soon become my main bank.“
Woman, 23, X Company