84 per cent customers dissatisfied with banking services, says FIS Global Survey

A study conducted by FIS Global, a banking and payments technology consultant, has shown that 84 per cent of bank consumers in India feel that their banks do not meet expectations. The FIS Consumer Banking PACE Index, conducted with 9,000 banked consumers in nine countries including 1,000 households in India , indicates the gap between a customer's key expectations and their bank's current delivery performance against those parameters. The survey respondents ranked 18 attributes according to their importance and perceptions of how well banks perform.

India scored 68 in the Index. The survey shows that while India's performance is below the average of 73, it performed better than Brazil and Thailand, the other two developing countries that participated in the survey.

84 per cent of the banked consumers in India feel that their banks do not meet their expectations.

Indian banking consumers have rated Safety as the most important factor, followed by Connectivity through internet/ mobile banking etc and the security of personal identity.

According to the survey, banking consumers in India feel the banks' performances fare below expectations on several parameters The survey found banks underperforming on parameters such as fairness (no hidden charges), not helping in achieving consumer's financial goals, lack of consumer recognition etc. On the other hand, Indian banks exceeded consumer expectations in providing digital and personalised services etc.