Who is winning the retail banking race in Russia?
PricewaterhouseCoopers and Senteo present a joint study of the Russian retail banking industry, “
Customer Experience Index–2008: Who is Winning the Retail Banking Race in Russia”. The survey offers unique insight into Russia’s competitive retail banking landscape to help banks measure and benchmark performance, improve the overall customer experience, and understand how to use customer experience as a business approach to create a more loyal and satisfied customer base.
Market growth and the Russian consumer’s increased spending power have created clear opportunities for further developing retail banking offerings. These opportunities have been apparent not only to Russian banks, but also to foreign banks, which have increased their presence in Russia recently.
As part of the study, Senteo and PricewaterhouseCoopers analysed 51 retail banks in Moscow and St Petersburg, measuring their performance in five areas contributing to the customer experience:
- Brand — Do people identify with the bank’s brand?
- Communications — Are the bank’s marketing activities effective?
- Environment — Do customers feel comfortable in the bank’s branches?
- Offering — Do the bank’s products and services meet customer needs?
- Culture — Are the bank’s employees focused on the customer?
This year’s survey encountered trends that illustrate how the retail banking market in Russia is evolving.
A CITY-FM programme “Private money” with Denis Korolev, Senior Manager, Financial Services Advisory (in Russian)
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