Breaking records for client service
26 April 2010
FAIRBAIRN PRIVATE BANK BREAKS UK RECORD FOR ITS
SPEED OF RESPONSE TO CLIENTS
Recent independent research has found that Fairbairn Private
Bank’s speed of client response has set the highest score on record
in the UK, achieving over 9 out of 10.
The research, conducted by The Leadership Factor, specialists in
customer satisfaction and loyalty, sought the opinions of the
bank’s clients and measured their satisfaction with the bank. The
Leadership Factor hold an extensive database of survey results and
undertake over 400 surveys per year.
Fairbairn Private Bank also achieved an impressive client
satisfaction score of 89.2%, using the Leadership Factor’s
Satisfaction Index™ to measure the bank’s success in satisfying its
clients. The score places Fairbairn Private Bank in the top 9% of
all companies on the Satisfaction Index™, being considerably higher
than the national UK customer satisfaction index (UKCSI) of
75%*.
The survey found clients were most satisfied with the personal
skills of the bank’s staff, such as keeping their promises and
commitments, their accuracy of executing requests, ease of contact,
speed of response and ability to answer queries. One client
commented, “I am so pleased with Fairbairn Private Bank. It is such
a nice, helpful, friendly bank and I can speak to someone straight
away. I just wish other banks would model themselves on this
standard of banking.” This serves to emphasise how vital quality of
staff are to the bank, and the importance of personal service.
Over 75% of clients believe Fairbairn Private Bank performs
‘better’ than other banks they have experienced, and many would
approach the bank for their next financial product or service.
Greg Horton, managing director said “We regard this survey as an
extremely important indicator of the bank’s ability to consistently
achieve its stated objective around outstanding levels of client
service. It is particularly pleasing to note the strong levels of
satisfaction and professionalism that our clients are experiencing
right across our client-facing support teams. To get such positive
feedback is particularly rewarding given the recent difficulties
faced by the banking industry worldwide.”
Recent research** stated that client satisfaction with UK
private banks has hit an all-time low, with their client
satisfaction index falling to the lowest level ever recorded. In
stark contrast, the clients of Fairbairn Private Bank are clearly
more than satisfied, with the vast majority of areas being scored
higher than 8 out of 10.
The bank has an ongoing commitment to its clients to exceed
their expectations through a client offering that is among the very
best in the business. Clients are greeted with a human voice at the
end of the telephone and are not passed from person to person, as
experienced and fully-qualified staff are able to answer questions
about the bank’s award-winning services. The bank seeks to treat
all clients as individuals and always act in their best
interests.
Fairbairn Private Bank’s clients clearly endorsed the bank’s
commitment to a high level of service. A further client said, “It
is wonderful for me to be to able to ring them. With just two rings
someone picks up and I always get someone who is willing to help
me. They are the best.”
* http://www.ukcsi.com/, January
2010
** MDRC Ltd, March 2010
Ends
Notes to editor:
About The Leadership Factor
The Leadership Factor specialise in measuring and improving
satisfaction and loyalty. They help their clients to succeed by
enabling them to increase their customers' satisfaction and
loyalty. They do this by conducting customer surveys to accurately
measure whether their clients are delivering the experience that
customers want.
They provide actionable information, suggest priorities for
improvement and make recommendations that enable their clients to
improve their customer experience.
They benchmark every survey they undertake (over 400 per year)
against their extensive database - allowing their clients to
compare themselves against the UK as a whole and also their
industry. Understanding that some customer priorities will be more
important than others, the Satisfaction Index™ uses importance
scores to weight satisfaction scores. The resulting index is
therefore a weighted average score which is expressed as a
percentage.
About Fairbairn Private Bank
Fairbairn Private Bank operates a comprehensive private and
personal banking operation on behalf of a wide range of clients.
These include private individuals, small and large companies,
trusts, governments and institutional investors. A full range of
banking, investment, trust and corporate services can be accessed
through its offices in the Isle of Man, Jersey, London and its
representative office in South Africa.
Fairbairn Private Bank is a member of the Old Mutual Group.
When referring to Fairbairn Private Bank – please ensure that
the company name is printed in full and not abbreviated.
For further information:
Janet Taylor or
Lesley Allegro, Fairbairn Private
Bank
Tel: +44 (0)1624 645000
Issued by:
Kara McCabe, Isle of Man Advertising & PR
Ltd
Tel: +44 (0)1624 620440