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7 banks hit J.D. Power champion list

Institutions rank in multi-industry satisfaction poll

7 banks hit J.D. Power champion list

When people rave about service, they don’t typically separate providers by type of business. They just know which firms they deal with leave them feeling treated well, and which leave them feeling like, well, leaving.

Keeping that in mind—that service transcends industry—in early March J.D. Power announced its 2014 Customer Champions, a list of 50 companies that “demonstrate the ability to provide the highest level of customer service based on their most important critics—their customers.” More than 600 brands were evaluated among nine industries, and the banks making the grade were among the likes of, Apple, and JetBlue Airways.

Companies in the listing made it through a five-factor competition: people, presentation, price, process, and product.

Most of the banks making it into the list are larger community or regional players. They include:

• Bangor Savings Bank, Maine.

• Beneficial Mutual Savings Bank, Philadelphia, Pa.

• First Citizens Bancorp, Columbia, S.C.

• Frost Bank, San Antonio, Texas.

• Union First Market Bank, Richmond, Va.

• United Community Bank, Blairsville, Ga.

• USAA, San Antonio, Texas

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Time/Date: June 16, 2021 2:00 p.m. ET

The U.S. has come a long way in its journey to real-time payments, with TCH and Zelle in market and FedNow just around the corner. COVID-19 has accelerated that demand to move to real-time. Yet many financial institutions remain unconvinced of the need to move, with less than 3% of financial institutions signed up today.

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