TD takes customer-satisfaction crown in banking survey
New Jersey-based TD Bank, with 17 branches in Fairfield County and 19 branches in Westchester County, was ranked as the best small-business bank in the Northeast in the recently released 2015 J.D. Power “Small Business Banking Satisfaction Study.”
The survey reflected data from some 9,000 small-business owners or financial decision makers nationally who use business banking services. The study was conducted from June through August 2015 and found, among other data, that women like their banking experience more than men.
This is the second time TD Bank has taken the top small-banking satisfaction spot in its headquarters region following a win in 2013, the bank reported.
Women who own small businesses in the U.S. are overall more satisfied than their male counterparts with their banking experience, according to the survey.
The study, now in its 10th year, measured small-business customer satisfaction by examining product offerings; account manager; facility; account information; problem resolution; credit services; fees and channel activities.
TD Bank’s overall small business customer satisfaction score for the Northeast was 796 on a scale of 1,000, an increase of 25 points compared with last year. The bank termed the jump “significant” and said it represented the winning difference.
Chase was No. 2 regionally with a survey score of 770, followed by Wells Fargo at 751; Citibank at 749; PNC Bank at 747; Citizens Bank at 736; Capital One at 734 and Bank of America at 724.
The survey ranked banks on categories such as products, account management, fees, locations and credit services. It said TD Bank “performs particularly well in product offerings, facility, fees, account information and channel activities.” Channel activities include ATM, mobile and phone. The survey analyzed customers”™ perceptions of their bank”™s ability to meet their expectations and highlighted banks that perform well in managing relationships with their customers and why.
It also was designed to provide bankers with a series of measurable and actionable performance indicators to help increase customer satisfaction, TD Bank said.
“TD Bank’s dedication to consistent customer outreach ”” ensuring we regularly review relationships, learn our customers’ businesses and share beneficial products and services ”” has had a tremendous impact,” said Fred Graziano, head of regional commercial banking for TD Bank. “This effort has driven customer satisfaction and account growth.”
This article was edited post-publication.