BOQ Tops Business Banking Ratings
BOQ has again increased its lead compared to the market average score in East & Partners business banking customers’ satisfaction survey.
It is the fifth straight year BOQ has topped the survey results.
East & Partners is a leading banking research and advisory firm that provides independent market-wide financial services industry analysis across Asia Pacific.
Its bi-monthly Business Banking Index measures customers’ satisfaction on an index scale from 10 to 100 with 100 indicating maximum customer satisfaction.
East & Partners’ research confirmed that BOQ has an “endorsement from customers which puts it well ahead of its rivals” with a score of 63.9, well ahead of second-placed HSBC on 53.5 and more than double the market average of 30.5.
East & Partners Head of Markets Analysis Lachlan Colquhoun credited BOQ’s relationship-banking model.
“Five years at the top of the BBI is an endorsement of the relationship model being pursued by BOQ, but shows there is a major gap between the Big Four and their customers,” Mr Colquhoun said.
BOQ’s Group Executive, Business Banking, Agribusiness and Financial Markets Brendan White said he was proud but not surprised by the results.
“Our Owner-Manager franchise model differentiates us from our competitors because being small businesses they understand small business,” Mr White said.
“If you overlay this natural understanding and empathy for small business with the support from our Business Bankers scattered throughout Australia then this is a powerful and differentiating engagement and service proposition.
“No doubt our branch network and business bankers nationwide will be very proud of these results, which truly reflect the passion our people have for their customers.
“BOQ has a long history of providing specialist support to small-to-medium businesses and would encourage anyone running a business who doesn’t know their bank manager's name and mobile number to drop into one of our branches to experience the difference for themselves,” he said.
For the full research results visit http://www.east.com.au/