While China’s automotive industry and market have been garnering most of the interest from the investment, business, and media communities during the past few years, another Asian country—India—has been quietly going about establishing itself as one of the fastest growing automotive markets in the world, and positioning itself for future growth.
With a fluctuating economy and new banking regulations continuing to affect small business customers’ perceptions of their banking experiences, financial institutions need to be armed with the insights that will help them meet and exceed the ever-changing expectations of their customers. Understanding the shifts in customer perceptions, the latest industry trends, and the factors with the greatest impact on satisfaction is critical to your bank’s ability to grow.
Increased governmental regulation, low interest rates, and an increasingly competitive marketplace have placed enormous pressure on banks to raise revenue from their existing customer base, while reducing the cost to serve their customers. Furthermore, the evolution of digital banking channels and the emergence of new customer segments, i.e., millennials, has impacted traditional methods of servicing customers and building relationships.
Mortgage lenders are currently facing a number of challenges, most notably, regulations and market conditions. While industry experts are expecting interest rates to continue an upward trend, temporary rate drops can trigger short-term spikes in refinance volume, which lenders must manage with existing resources. Additionally, firms must prepare for changes, such as implementation of the TILA-RESPA integrated disclosure rule, and be ready to respond to a possible increase in purchase demand as the economy continues to improve.
Since 1968, organizations around the world have relied on J.D. Power as a trusted advisor for deep expertise in the industries we serve, advanced research science to drive insights, and a proven success record for driving results.
By analyzing the many aspects of the customer experience, J.D. Power can identify the multiple drivers of that experience, measure and understand the impact of those drivers, and help drive business results by monitoring and improving performance.
WESTLAKE VILLAGE, Calif.: 30 October 2013 — Overall satisfaction among small business banking customers declines due to dissatisfaction with problem resolution and with the most frequently used transaction methods, branch and online; yet, satisfaction with fees increases, according to the J.D. Power 2013 U.S.