Banca March confirms leadership position as best-rated bank by customers on strength and solvency
17 February 2023 Category: Banca March
- According to the 2022 STIGA report on the customer satisfaction levels reported for the main Spanish banks, Banca March was the best-rated bank in the sector for strength and solvency, with a score of 8.96 out of 10.
- Banca March also topped the ranking, for the fifth year straight, for customer satisfaction with branches, outperforming the sector average of 7.70 by over one percentage point with a score of 8.83. Banca March continues to rank first in the four areas evaluated by STIGA in this section: customer service, privacy, professionalism and in-branch waiting times.
- The excellent results obtained by Banca March in the 2022 Financial Sector Customer Satisfaction Benchmarking by STIGA continue to reflect strong satisfaction levels among the bank's customers with the quality of service provided by its professionals, as well as the extensive omnichannel technology made available by the bank to its customers. This translated to an Overall Satisfaction Rating (OSR) of 8.29 points and a Net Promoter Score (NPS) of 36.8%, both of which are classified as excellent.
According to the Financial Sector Customer Satisfaction Benchmarking prepared by STIGA for 2022, Banca March is the Spanish financial sector leader by customer scores for strength and solvency, with a score of 8.96 out of 10 versus a sector average of 7.78.
Banca March also boasts the best-rated branches in the Spanish banking sector, outperforming the sector average of 7.70 by over one percentage point with a score of 8.83. Banca March secured the highest scores in the sector for the four areas assessed in relation to in-branch service quality: customer service, privacy and discretion, professionalism and waiting times.
The STIGA report also ranks Banca March second in the sector by Overall Satisfaction Rating (OSR of 8.29 versus a sector average of 7.17), customer satisfaction with managers (8.87 versus a sector average of 8.26), social commitment (7.51 versus a sector average of 6.35), trust (8.51 versus an average of 7.05) and tailored customer service (8.02 versus an average of 5.91). The bank's Net Promoter Score (NPS) stood at 36.8%.
Banca March: a market leader omnichannel advisory technology
These results are classed as excellent, highlighting the performance of Banca March branches - business hubs delivering multichannel advisory services - and evidencing the strong customer satisfaction levels with the service delivered by its professionals. Banca March's intention is to become Spain's leading institution in advisory technology, always delivered in tandem with the best trained relationship managers in the Spanish banking industry.
Customers are making increasing use of digital channels in recent years, in pursuit of greater efficiency, speed and flexibility in their interactions with the bank. Specifically, 73% of Private Banking and Wealth Management customers now use digital channels. In Business Banking, 92% of customers now use digital channels. Currently, 85% of all operations available through both branches and digital channels are performed through the latter.
To respond effectively to the needs of its customers, who demand impeccable service across all channels, Banca March has developed a complete range of Multi-Channel Banking services which includes - as well as the remote channels (website and app) - a 24-hour telephone banking service to ensure all customers can receive personalised service without leaving home. Relationship managers at the bank's Private Banking and Business Banking Hubs travel to meet with customers in person.
Additional support for older people
As part of its commitment to excellence, Banca March has also strengthened support for customers aged 65 and over, implementing measures to prioritise this age group. Personalised service for over-65s has been strengthened with no wait time, both in-branch and over the phone, ensuring that senior customers are prioritised and served by a real person. Remote banking applications (website and app) have also been adapted to the specific needs of over-65s who do not wish to travel to their branch, with simplified, user-friendly functions. To support these initiatives, small-group training sessions are also being delivered, where bank professionals show older customers how to use online banking, the app and ATMs.
Leaders in service quality and people management
Banca March has created the best school for private bankers and business advisers in the Spanish banking sector. This success is clearly reflected in a range of surveys, which position Banca March in the top spots in terms of the quality levels perceived by its customers. This has been possible thanks to Banca March's robust investment in training - more than twice as much as its peers - and its philosophy, which positions people at the core of its strategy and promotes personal and professional development for the entire team.
Thanks to this strategy, Banca March has secured Top Employer certification for the fifth year running. In 2022, Banca March was designated a Great Place to Work for the third year running and recognised as the fifth best place to work in Spain, as well as being the only Spanish bank to feature among the best places to work in Europe, according to the prestigious Best Workplaces 2022 rankings for Spain and Europe compiled by the independent consultancy Great Place To Work. These certifications clearly evidence just how seriously Banca March takes people management.