– Survey finds 50 percent of consumers cite technology and 79 percent
cite service as key factors in banking decisions –
PADUCAH, Ky.–(BUSINESS WIRE)–As millennials reach an age where they are making significant banking
decisions, a recent survey by Computer Services, Inc. (CSI) (OTCQX:
CSVI), a provider of financial technology solutions, suggests two
strategies that banks should employ to capture this particular customer
base. The survey indicates that financial institutions should offer both
competitive technology options to attract new customers and high-quality
customer service to retain them.
Conducted on behalf of CSI by Harris Poll, the
survey ran online from Aug. 7-11, 2015, and garnered responses from
nearly 2,100 U.S. adults ages 18 and older. According to the results, 50
percent of consumers said that a financial institution’s technology
offerings were a key factor in selecting where they bank. For males
under the age of 35, this percentage jumped to 65 percent.
“We’ve reached the tipping point where at least half of adults expect
and demand innovative solutions for their banking needs,” said Steve
Powless, CSI’s chief executive officer. “While the exact mix of
technology offerings will vary for each bank’s demographics, top areas
include additional mobile banking options, peer-to-peer payments and
next-generation card security like EMV.”
While new technology increasingly brings consumers into banking
relationships, customer service is still the top factor in retaining
customers. The CSI
survey found that 79 percent of consumers consider customer service
as the most important aspect of their banking relationship. Although
this percentage varies slightly with age (75 percent of adults under 35,
and 86 percent of adults over 65), service far outpaced any other factor
in the survey.
“It’s no surprise that customer service is the most important aspect in
a customer’s relationship with his or her bank,” Powless said. “But as
banks move toward the future, they must continually redefine what
exemplifies ‘great service.’ It may not be in-person encounters at a
branch, but rather a smooth mobile banking experience and the ability to
receive help no matter how they choose to interact with the bank.”
The survey offered additional insight shared by U.S. adults related to
their banking habits and preferences. A detailed report of the survey’s
findings is available for download at www.csiweb.com/2015consumerpoll.
This survey was conducted online within the United States by Harris Poll
on behalf of CSI from Aug. 7-11, 2015, among 2,084 adults ages 18 and
older. This online survey is not based on a probability sample;
therefore, no estimate of theoretical sampling error can be calculated.
For complete survey methodology, including weighting variables, please
contact Brandon Dyce, CSI communications director, at firstname.lastname@example.org.
About Computer Services, Inc.
Computer Services, Inc. (CSI)
delivers core processing, managed services, mobile and Internet
solutions, payments processing, print and electronic distribution, and
regulatory compliance solutions to financial institutions and corporate
customers across the nation. Exceptional service, dynamic solutions and
superior results are the foundation of CSI’s reputation and have
resulted in the company’s inclusion in such top industry-wide rankings
as the FinTech 100, Talkin’ Cloud 100 and MSPmentor Top 501 Global
Managed Service Providers List. CSI’s stock is traded on OTCQX under the
symbol CSVI. For more information about CSI, visit www.csiweb.com.
Brandon Dyce, 615-545-1675
Stephen Sprayberry, 678-781-7207