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Banca March - Crecemos con valores, crecemos juntosNews

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At Banca March, we want to keep you always informed, and this section gives you the opportunity to find out whatever you want to know about.

05/20/2019

Banca March's account managers remain the top-rated among Spanish banks

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    • Clients gave Banca March's account managers the best score among Spanish banks, 8.65 points out of 10, in the first quarter of 2019.
    • The bank also leads the sector in terms of satisfaction in using its offices, with a customer score of 8.92.
    • In transparency, trust and customisation, Banca March got the highest score among banks, with 7.72 out of 10.
    • In overall satisfaction, Banca March remains above average with a score of 7.83.
    • The bank's technological efforts have paid off, placing Banca March among the top-rated institutions in digital banking, in terms of overall satisfaction and use.
    • 50.3% of Banca March's customers say they would recommend the bank, compared to a 37.1% sector average.

Banca March's account managers continue to lead the Spanish banking industry in overall satisfaction and identification among customers, with a score of 8.65 in the first quarter of 2019. This is reflected in the latest Benchmarking of Customer Satisfaction in the Financial Sector report prepared by the independent firm STIGA, in which the bank has been participating since 2017

Customers also recognise the high standards of the Banca March team in terms of transparency, trust and personalisation—parameters that incorporate so-called relationship intangibles—and they rate these aspects with a score of 7.72, nearly an entire point above the sector average. The Bank is also among the top-rated in brand intangibles, which measures its solidity, solvency, ability to stay up-to-date, and social engagement, a category in which it scored slightly over 8 points, six-tenths above the overall market average. Another important figure is that of customers’ satisfaction with its offices, where, once again, Banca March tops the ranking with a score of 8.92 out of 10, compared to a sector average of 7.98.

The good scores obtained in this and other areas have helped strengthen its position as one of the top-rated institutions in terms of overall satisfaction.

Other aspects analysed by STIGA position Banca March in second place in terms of customer promoters, with 50.3% who would recommend its services compared to an industry average of 37.1%. Additionally there is the customer recommendation index, measured according to the Net Promoter Score method (NPS), which was 25.2% in the first quarter of the year compared to an overall average of only 2.4%.

EXCEPTIONAL CUSTOMER SERVICE

The technical skill of Banca March’s account managers is partially the result of a meritocracy-based culture and the professional development of the workforce. Banca March is the bank that has invested most per employee in training in the entire industry—€900, compared to an industry average of €340, according to the latest available GREF data—which translates into exceptional customer service.

In an industry where jobs are being lost—an estimated 80,000 finance positions have disappeared over the last five years—Banca March has continued to create new positions. In net terms, more than 100 employees were hired between January and December 2018. The company has one of the most qualified workforces in the industry, with more than 75% holding university degrees, an average age of 42 years, and average seniority of 14 years. At around 3%, the voluntary external rotation rate is the lowest in the industry.

DIGITAL TRANSFORMATION

The bank’s efforts to improve customers’ digital experience is beginning to see results and has translated into an improved score of 8.09 in the area of mobile banking.

Overseen by the Deputy Chairwoman of Banca March, Rita Rodríguez Arrojo, the Bank’s Digital Transformation Plan was launched in 2018 and will involve an investment of €75 million. It is due to be fully implemented by 2020.

Banca March's digital strategy is embodied in a three-pronged goal: improving customer experience, expanding the digital tools available to account managers, and making the Bank's internal processes more efficient. The digital strategy supports Banca March's overarching strategic goal of being a leader in private banking and advice to business in the Spanish market and is in line with its business model based on four pillars: shareholder engagement, unique and exclusive products and services, superior quality of service, and excellent staff.

Over the last year Banca March has expanded its offering to its customers with Google Pay and Apple Pay, services which enrich and facilitate customer-bank relations in order to offer them better advice and the best selection of products. Moreover, in early May Banca March announced the launch of the industry’s first voice assistant with Smart Display, with a focus on private banking clients.

     

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