first direct has topped the 2011 UK Retail
Banking Satisfaction Study by marketing consultancy JD Power.

first direct has come up on top with a score
of 774, followed by The Co-operative Bank with a score of 734.
Nationwide Building Society ranks third with a 723 score.

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Head of customer services at first direct,
Jason Sharpe, told RBI that the lender’s performance has
been consistent over the years.

“We are one of the top 100 core brands in the
UK and for a bank to be a core brand I think it is brilliant, and
bizarre as well especially in this sort of climate,” said
Sharpe.

The JD Power Retail Banking Satisfaction Study
has revealed that retail customers are happier with the service
they receive now than they were a year ago.

Overall satisfaction among retail banking
customers has nudged up to 698 on the 1,000-point scale (2010: 683)
in the study, with the branch facility factor helping to drive the
improvement.

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The JD Power study factors in six parameters
for banks – problem resolution, account activities, fees, product
offerings, account information and branch facility.

Satisfaction remained relatively low in 2010
for three key areas: fees, product offerings and problem
resolution, according to the JD Power Study.

Approximately 55% of customers who have had a
problem or made a complaint in the past year said they are
disappointed with the resolution process.

JD Power’s director of the services and
emerging industries division, Stuart Crawford-Browne, said, “Retail
banking customers tend to be especially dissatisfied with overdraft
fees and monthly service charges, particularly the amount of these
fees.”