Bain: Customer loyalty in retail banking

Written by Ashwin Rattan Sunday, 30 December 2012 22:30
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This edition of Bain & Company's annual survey of consumer loyalty in retail banking covers 150,100 account holders in 14 markets: Australia, Canada, China, France, Germany, Hong Kong, India, Mexico, Singapore, South Korea, Spain, Thailand, the UK and the US. 


• The rewards of securing greater customer loyalty can be substantial, on the order of $10,000 more in net present value over the lifetime of an affluent US promoter customer vs. a detractor. 


• Two major survey findings—a surge in mobile banking, and tepid loyalty scores given by affluent customers in many markets—highlight the need to tailor digital and physical channels to the priorities of high-value customer segments, and integrate these channels closely with one another instead of running them in parallel.


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