- Nationwide has been named the UK's best-performing brand for customer service, achieving a score of 87.3 out of 100 in the latest UK Customer Satisfaction Index.
- For the first time since 2008, banks and building societies have collectively surpassed retailers in customer service rankings, marking a significant turnaround for the financial sector.
- The banking sector's improved performance is attributed to years of investment in technology and staff training, stronger competition, and the introduction of the Financial Conduct Authority's Consumer Duty rules.
- Overall customer satisfaction in the UK has risen for a fourth consecutive reporting period, though the pace of improvement has slowed sharply over the past six months.
- Despite the improvements in customer service, consumer confidence is weakening, with fewer people feeling better off and a growing proportion believing it is a bad time to make major purchases.
IN FULL
Nationwide named UK’s best brand for customer service as banks overtake retailers for first time
