Can SMS banking improve plunging satisfaction levels?

In a bid to improve plummeting customer satisfaction levels while also cutting costs, an increasing number of banks plan to provide text message services in areas such as loans and mortgages to supplement existing basic balance alerts.

According to a report by Javelin Strategy & Research, customer satisfaction with banks has dropped to 79% this year compared with 92% in 2004. A study from Accenture also revealed that loyalty had fallen among customers of just under three out of five banks.

As a result, Beth Robertson, director of payments research at Javelin told PNT Marketing Services that such organisations needed to improve their customer service levels and "assume a more visible and pro-customer stance".

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