Bank of America Leads the Pack in VocaLabs Study of Customer Service
MINNEAPOLIS - Vocal Laboratories Inc. (www.vocalabs.com) today announced the results of its tenth quarterly SectorPulse study on the quality of telephone based customer service among large financial services companies for the six months ending December 31, 2007. This study covered Washington Mutual (NYSE:WM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citibank (NYSE:C), e-Bay subsidiary PayPal (NASDAQ:EBAY), and Wachovia (NYSE:WB).
Bank of America led this quarter with a "C" in Caller Satisfaction, and a "B" in Call Completion, the percent of customers able to complete their business with a single phone call.
Washington Mutual earned a "B" in Caller Satisfaction and a "D" in Call Completion. Citibank and Wells Fargo tied with a "C's" for Caller Satisfaction and "D's" for Call Completion. PayPal, which is not a traditional financial service institution but provides many similar services, earned "D's" in both benchmarks.
The survey data indicates that Wachovia would rank above the median in both benchmarks, but there was not enough data about the company to issue it letter grades.
VocaLabs CEO Peter Leppik comments: "This has been a turbulent period in the financial services industry, and that often has a negative impact on customer service quality. So far, however, we have not seen any meaningful industry-wide decline in customer survey scores, though the industry continues to perform worse than others on our benchmarks."
To learn more about VocaLabs services, visit www.vocalabs.com. An Executive Summary and complete SectorPulse Financial Services report are available by subscription. Contact VocaLabs at firstname.lastname@example.org, 952-941-6580.
VocaLabs' SectorPulse reports compare the customer service quality for different companies in the same industry, using survey data and call statistics from the companies' customers. VocaLabs consumer panelists who are customers of one of the companies included in this report are asked to participate by completing surveys before and after a call to their service provider.
About Vocal Laboratories
Vocal Laboratories is a survey and professional services company specializing in collecting customer feedback about customer service quality. VocaLabs has won numerous industry awards for its innovative survey techniques for delivering timely, accurate, and actionable data in the call center.