Consumer Bankers Association Features Phase 5 Report

Known as the "voice of the retail banking industry", the Consumer Bankers Association (CBA) partners with leading retail banks in the US to promote sound policy, prepare the next generation of bankers, and finance the dreams of consumers and small businesses. 

On September 9th, 2020, the organization featured a recent study by Phase 5 and Delvinia in their Education section for members. The study, entitled "State of American Small Business Banking Experience", identified and measured the critical factors that drive loyalty by surveying small business owners (SBOs) about their perceptions of their bank when it comes to innovation, user experience (UX), customer experience (CX) and customer centricity.

The CBA highlighted that 91% of American SBO's feel their bank is customer-focused, but acknowledge that there is still room for improvement in several areas. Other key takeaways for the CBA included:

  • How business banking customers rate their bank on dimensions of customer service, innovation and user experience;
  • What’s important to them, and the gaps they have experienced;
  • A summary of business banking customers’ top banking needs as they look toward a post-pandemic future.

You can download the complete presentation recommended by the CBA here.

Written by Stephan Sigaud

Stephan Sigaud, MBA, is Phase 5’s EVP of Marketing. Stephan is passionate about partnering with clients to address their challenges and opportunities around customer centricity. With more than 25 years’ experience in Market Research and Customer Loyalty and Experience, Stephan has been volunteering with both the Customer Experience Professionals Association (as Board member and past Chair of the CXPA Toronto Network) and the Canadian Marketing Association's (as member of the Leaders Network and past co-Chair of the CMA CX Council).