Washington Mutual and Bank of America On Top in VocaLabs Study of Customer Service
MINNEAPOLIS--(BUSINESS WIRE)--Vocal Laboratories Inc. (www.vocalabs.com) today announced the results of its eighth quarterly SectorPulse study on the quality of telephone based customer service among large financial services companies for the six months ending March 2007. This study focused on Washington Mutual (NYSE:WM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citibank (NYSE:C), e-Bay subsidiary PayPal (NASDAQ:EBAY), and Wachovia (NYSE:WB).
Washington Mutual was the satisfaction leader with a "B" in Caller Satisfaction, and a "C" in Call Completion, the percent of customers able to complete their business with a single phone call. Bank of America earned a "C" in Caller Satisfaction, and led in Call Completion with a "B."
Citibank and Wells Fargo both earned "C's" in Caller Satisfaction and "D's" in Call Completion. Feedback indicates that Wachovia would rank near the top in Caller Satisfaction and near the bottom in Call Completion, but too few survey responses were received for Wachovia to issue letter grades.
While not a direct competitor to traditional banks, PayPal processes millions of online financial transactions each year. PayPal earned "C's" in both metrics for this report.
VocaLabs CEO Peter Leppik comments: "The most interesting result this quarter is Bank of America's continued improvement. In our first report two years ago, Bank of America was near the top of the rankings, but dropped significantly in mid-2006. The company is now back at or above the scored it posted in early 2005."
To learn more about VocaLabs services, visit www.vocalabs.com. An Executive Summary and complete SectorPulse Wireless data reports are available by subscription. Contact VocaLabs at sales@vocalabs.com, 952-941-6580.
About SectorPulse
VocaLabs' SectorPulse reports compare the customer service quality for different companies in the same industry, using survey data and call statistics from the companies' customers. VocaLabs consumer panelists who are customers of one of the companies included in this report are asked to participate by completing surveys before and after a call to their service provider.
About Vocal Laboratories
Vocal Laboratories is a survey and professional services company specializing in collecting customer feedback about customer service quality. VocaLabs has won numerous industry awards for its innovative survey techniques for delivering timely, accurate, and actionable data in the call center.
