The most important factor to ensure
customers remain happy with their bank after being hit by fraud is
the rapidity with which any stolen money is reimbursed, highlights
an international survey conducted by US payments technology vendor
ACI Worldwide.
However, other factors should not be ignored.
For example, just under a third of consumers surveyed also judged
their bank’s customer service by how quickly they identified a
fraudulent transaction while for a quarter of respondents it was
most important that the bank identified the fraud before they
did.
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In general ACI found banks are doing a
reasonable job when it comes to post-fraud services, with 74
percent of respondents happy with the treatment they received after
becoming a card fraud victim. However, stressed ACI, with 26
percent reporting that they were somewhat unhappy or very unhappy,
there is still more banks can do to ensure customer satisfaction
following a fraud incident.
This is particularly true of bank customers in
Dubai where ACI’s survey revealed a mere 16 percent of customers
were “very happy” with their bank’s service following a credit or
debit card fraud.
On the other end of the scale were British
consumers with 62 percent saying they were “very happy” with the
treatment received. Banks in the US and Singapore also fared
reasonably well with 55 percent and 40 percent of respondents,
respectively, saying that they were happy with the post-fraud
service offered by their banks.
ACI stressed that it is also important that
banks understand regional differences and tailor their customer
service accordingly. In Singapore, for example, consumers felt the
speed at which their bank identified the fraud far outweighed the
importance of the speed of reimbursement at 45 percent versus 15
percent of respondents.
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By GlobalDataIt also seems Singaporean banks are good at
spotting fraudulent transactions, as only 16 percent of respondents
had noticed a fraud before their bank notified them about it,
compared with 21 percent in the UK and US.
ACI’s research was conducted in Australia,
Brazil, China, Dubai, Germany, Singapore, the UK and the USA in
July 2009.
