Mid-size banks have long held the advantage over big banks in providing superior customer experience. For the first time in the 11-year history of the JD Power Retail Banking Satisfaction Study, big banks have now surpassed mid-sized banks in customer satisfaction. Losing this advantage puts mid-size banks at a crossroads: continue using traditional tools and focusing on traditional constituencies and risk irrelevancy in a fast-changing market, or identify problem areas and take the steps needed to fix them. Easier said than done–right?
Wrong.
Jim Miller and Paul McAdam of JD Power explore solutions for specific problem areas that mid-size banks face.