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Banks urged to introduce loyalty schemes to rebuild relationships with customers
26 Jan 2012

UK banks have been encouraged to introduce loyalty schemes in a bid to rebuild their relationships with dissatisfied customers.

Consultancy firm Accenture has published the results of a new survey which showed that the number of current account customers that are satisfied with their bank has risen from 56 per cent to 60 per cent in the last year.

Furthermore, the number of customers complaining about their bank fell from 17 per cent to 13 per cent over the last 12 months.

However, these positive results were tempered by the news that less than half (43 per cent) of respondents believe their bank is transparent and fair.

Peter Kirk, head of Accenture's banking distribution and marketing services in the UK and Ireland, claimed that the banking industry still has a "long way to go" to rebuild its reputation.

"In order to rebuild relationships, banks need to invest more in improving customer service, including meeting the demands of the changing consumer - especially young people, who want to be able to do their banking when it suits them by using digital channels, such as online, mobile and social media," he said. 

"They should also look at rewarding customers through loyalty schemes."

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