MINNEAPOLIS—Among customers surveyed, Bank of America and Wells Fargo had better     phone-based customer service than Chase and Citi, according to a study     on phone-based customer     service quality conducted by Vocal     Laboratories Inc. (Vocalabs). In telephone interviews conducted     immediately following a customer service call, 68% of Bank of America     customers surveyed were “Very Satisfied” with the experience, while 63%      of Wells Fargo customers gave the experience their top rating. This     compares to the 56% percent of Chase and 52% of Citi customers who were     similarly satisfied.

Problem resolution is an issue industry-wide. Bank of America, Chase,      and Wells Fargo were statistically tied with 64%, 66%, and 64% of     customers’ issues resolved on the customer service call, while 57% of     Citi customers surveyed reported their problems were solved.

“Even among routine transactions like checking account balances, over     30% of the customers we interviewed did not get what they wanted on the     customer service call,” said Peter     Leppik, CEO of Vocalabs. “Our survey shows that problem resolution     is a major driver of business goals like customer loyalty. It also costs     a lot of money to serve customers who call back multiple times.”

About This Research
The National Customer Service Survey (NCSS) tracks customer service quality in several industries, using telephone     interviews conducted with a customer immediately after a customer     service experience. Statistics in this press release are based on 844     surveys completed between April 2011 and September 2011. The NCSS is     underwritten and conducted by Vocalabs, independently of any of the     companies covered.

Download the Executive Summary by visiting www.Vocalabs.com/Press. To subscribe to the full data set, contact Vocalabs at inquiry@vocalabs.com,      952-941-6580, ext. 201.

About Vocalabs
Vocal Laboratories Inc. (Vocalabs)      specializes in building effective customer feedback programs designed to     measurably improve the customer experience. We use a combination of     immediate live interviews, automated customer surveys, and panel     research to collect customer feedback tailored to each client’s business     goals. Our reporting tools serve the entire client organization, from     executives to front-line customer service, and our unique expertise     ensures ongoing improvement. Learn more at www.vocalabs.com.

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