YBS focused on strengthening customer trust
A clear focus on customer experience has resulted in 20% fewer complaints received by Yorkshire Building Society Group in the first half of this year compared to the same period in 20151. To put this in context we now receive one complaint per thousand accounts making us one of the best in the industry.
This commitment to improvement has also contributed to the Society retaining its status as one of the UK’s most trusted financial services providers, consistently ranking in the top three for customer trust and achieving its highest ever Net Promoter Score® (NPS) of +332 compared to the industry average of +83.
Yorkshire Building Society’s Chief Customer Officer Mike Regnier said:
I am delighted that through our investment in making our service easy and simple we have been able to reduce the number of customers with cause to complain, whilst continuing to offer an excellent product range. We will stay focused on further improving the experience for our members and committed to removing the causes of complaints.
When customers remain unhappy with our decision regarding their complaint, they can refer the case to the Financial Ombudsman Service. The number of cases where the Ombudsman has agreed we reached the right decision at the end of 2015 was 85% an increase from 73% in H1 2015 and we remain one of the leading financial Institutions in this area4.
Throughout 2016 we have delivered a number of improvements including a simpler mortgage application process, personalised treatment for customers whatever their circumstance and enhancements to the ways in which you can do business with us.
As a member-owned organisation, providing outstanding customer service is our key priority but we know we don’t always get things right. Continuing to learn from our mistakes to make sure we fix the root cause and prevent these issues impacting other members continues to be one of the ways we strengthen customer trust.
- 1 Complaints Publication Data 1 January 2016 to 30 June 2016 and 1 January 2015 to 30 June 2015
- 2 KPMG Nunwood Customer Voice Programme, +29 (12 month score, January to December 2015, based on interviews with 28,329 customers), +33 (June 2016) average +32 (6 month score, January to June 2015, based on interviews with 15,518 customers)
- 3 KPMG Nunwood Consulting – KPMG Nunwood Customer Experience Excellence Centre Top 100 UK Brands 2015
- 4 The Financial Ombudsman Service complaints data on the number of complaints referred to it by individual firms