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Voice of customer

Consumer Banking

We regularly seek customer feedback to understand product and service development opportunities and to alert us to potential problems. We have a comprehensive approach to gathering information including:

  • Using customer surveys to gather feedback on our existing processes and products and measuring these across product, channel, segment and geography.
  • Using our monthly Customer Satisfaction surveys to gauge our customers’ views of service quality and product capability.
  • Tracking all complaints by customer segment, on a country, regional and global basis, in order to properly analyse the cause of complaints and ensure that appropriate action is taken to resolve them.

Tracking customer satisfaction with NPS

We want to be the bank that our customers recommend to their friends, family and colleagues. We measure customer satisfaction with NPS tracking, which gives us a comparable measure for customer satisfaction across our business.

To calculate NPS, we ask our customers the question: “If a friend or an associate were to ask, how likely are you to recommend that they bank with Standard Chartered Bank?” Customers rate us on a 10 point scale: a score of 10 indicates that they are extremely likely to recommend us, while a score of one indicates that they are not at all likely to recommend us.

NPS is the difference between the percentage of customers who give the three highest ratings (eight, nine and 10) – our promoters – and the percentage of customers who award us the bottom five ratings – our detractors. Those customers who award us a score of six or seven are viewed as neutrals, and are not included in the calculation. Their score indicates that they are unlikely to buy a further product. NPS can vary between -100 per cent and +100 per cent for a product, brand or market segment.

NPS as a measure

We use NPS* as the basis for measuring the success of our Customer Charter. An increase in NPS has been shown to correlate with achieving deeper sustainable customer relationships. Ultimately, we believe that increased NPS will deliver greater shareholder value.

Consumer Banking Net Promoter Score (NPS) Index


NPS is recognised as the ultimate measure of customer advocacy across many industry sectors, including banking. By recognising the positive impact of advocates and the cost of poor service (detractors deducted from advocates), NPS provides a good indication of future business outcomes in terms of market growth.

‘Net Promoter Score’ and ‘NPS’ are trademarks of Satmetrix Systems Inc., Bain & Company, and Fred Reicheld
Source: Market Probe Customer Satisfaction Survey (~20 markets on average each year). The survey uses interviews completed throughout 2010.

Responsible selling and marketing: Case study

Embedding our Customer Charter

In 2010, we rolled out our Customer Charter throughout our Consumer Banking business. To ensure a consistent delivery, we conducted 1,591 workshops to train 38,918 Consumer Banking staff in 34 countries. The workshops helped staff familiarise themselves with the three promises of our Customer Charter: superior service, solving financial needs and rewarding relationships.

We also held workshops to identify recent service failures, and solutions to prevent recurrence. These workshops generated 3,112 unique ideas that were evaluated by a senior management committee. In 2010, we implemented more than 600 of these ideas, and a further 677 ideas will be implemented in 2011.

The new initiatives helped to reduce the recurrence of complaints in the second half of 2010. Our complaints measure – complaints per thousand accounts – was reduced by 43 per cent in the fourth quarter of 2010, compared to the 2009 average.

We regularly update our frontline staff on progress on our Customer Charter. We also organise monthly calls to share best practice from various countries, and we have set up a website where best practice ideas can be shared and discussed.

First time resolution (FTR) of customer complaints is an important indicator of our performance against the Customer Charter, and a key driver of customer satisfaction. In 2010, we implemented FTR as core measure across our business. Our country service quality teams identified key opportunities for improving FTR rates, by analysing and evaluating the top three contributing reasons for resolutions being delayed. This led to a number of best practice initiatives being implemented across our business. As a result, our FTR rate increased from 39 per cent in 2009 to 56 per cent in the final quarter of 2010.

Customer Charter initiatives in 2010 included:

  • Empowerment of frontline staff to deal with key issues such as customer reversals of up to USD25 via a standardised bank reversal policy
  • Regular tracking of our communication with customers – on our commitment to solve the complaint
  • Call-backs in case of delay in processing

Wholesale Banking

In 2010, we introduced a new client relationship management system in Wholesale Banking. We use this system to log and manage complaints globally. As a result of this initiative, designed to improve our client service, we have improved the quality and quantity of information on each complaint we receive, which has allowed us to enhance our resolution processes.

Annual Report and Accounts 2010