In an era where banks are investing millions into chatbots, self-service portals and AI-driven personalization, it’s easy to assume that digital convenience is the key to customer loyalty. But new findings from Rivel Banking Research suggest a more complex reality — one that bank marketers can’t afford to ignore. At a high level, the numbers look promising. A full 85% of Americans say they’re satisfied with their bank, and 94% rate their customer service positively. While it’s true that the industry seems like it’s delivering, when researchers dug deeper into actual service interactions, they uncovered a persistent pain point — response times. More than half of customers (58%) say their bank is too slow to respond when they need help. And that’s not just a minor inconvenience. It’s a moment of vulnerability, where frustration can quickly erode trust. These are the moments that matter most to consumers who are not interacting with their bank on a regular basis, and they’re often instances when loyalty is won or lost. For marketers, this presents a unique opportunity. Customer service isn’t just a support function; it’s brand experience and, frankly, one that carries substantial weight. Every interaction, especially those that happen under pressure, shapes how customers feel about your institution. And while advertising may build awareness, it’s the quality of service that builds lasting relationships, ensuring positive word of mouth. Why the Phone Still Rules In a world of digital-first solutions, it’s easy to assume that customers prefer chatbots, email or self-service portals when they need help. But when the stakes are high, like fraud alerts, declined cards or a missing payment, nearly half of customers still reach for the phone first. According to Rivel Banking Research, 46% of customers choose to call their bank first when they have a real problem, far ahead of email, chat or even branch visits. It’s not just about convenience for most consumers; it’s about reassurance. In moments of stress, people want to hear a voice, feel understood and know that someone is taking ownership of their issue. Here’s the complete ranking of how customers prefer to get help when they have a problem and need a quick solution, according to Rivel’s recent exclusive research for The Financial Brand: 1. Phone calls 2. Branch visits 3. Email 4. Chat 5. FAQ sections 6. Google searches The Service Reputation Game-Changer While many institutions are racing to optimize their digital channels, they may be neglecting the very touchpoint that drives the most meaningful brand impressions. This is where brand marketing comes in. Service quality can be a front-line differentiator, not just a back-office metric. In fact, 86% of potential customers, according to Rivel, say excellent customer service is a must-have when No Hanging Up on the Phone Your Best Tool for Customer Service Is Evolving By Corey Wrinn, Managing Director, Rivel Banking Research Colorado Banker 10
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