Social Media Analysis Showed Bank of America with Largest Share of Voice While Wells Fargo Had the Highest Net Positive Perception

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Bank of America, Citibank, American Express, JP Morgan Chase and Wells Fargo dominated the Internet conversations. Wells Fargo, TD Bank, JP Morgan Chase and NatWest were the only five banks that had a net positive perception.

Serendio, the leading customer experience analytics provider, has released its first BankInsight research report showing Bank of America had the highest overall Share of Voice with almost 50% of all banking conversations on the Web including all of the social media. On the other hand, Wells Fargo led with the highest overall Net Perception Score at nearly +54. The Net Perception Score, a measure of satisfaction or dissatisfaction, provides an indicator of consumer sentiment toward brands, products and features.

The BankInsight report is created quarterly to help banking decision-makers improve their ability to serve customers. It is the first comprehensive consumer banking study gleaned from thousands of online consumer statements on various review, blog and social networking sites like facebook and twitter. Serendio gathers and analyzes consumer reviews, ratings and statements from a broad range of Web sources to build a picture of the consumer banking experience. Some of the vital areas covered in the BankInsight analysis include products and services like Online Banking, Mobile Banking, Fees and Customer Service.

"The Serendio research provides a real-time picture of detailed sentiments that bankers will find invaluable" said Robert Pincus, Vice-Chairman of EagleBank in Washington, DC. "Consumer banking is an extremely competitive market. Banks that listen and respond to customers more effectively will win. The BankInsight report helps accomplish that".

A few of the listening insights uncovered in the Q3-2010 Serendio analysis include:

  • Mortgage and Credit Cards are the hot topics for banking customers together representing about 32% of all banking conversations
  • Bank of America, Citibank, American Express, JP Morgan Chase and Wells Fargo dominated the Internet conversations
  • Credit card was the most talked about product followed by Mortgage
  • Amongst the top 10 conversations, Wells Fargo, TD Bank, JP Morgan Chase and NatWest were the only banks with Net Positive Perception score

The Serendio BankInsight report offers a detailed analysis of what consumers are saying about the banking experience - both good and bad. By analyzing thousands of statements that consumers post in community sites, forums, reviews and ratings platforms, Serendio is able to discern sentiment derived from its listening analytics system. The BankInsight report offers an actionable roadmap to an improved banking experience.

"The Serendio BankInsight report is a product of our unique capabilities" said Serendio CEO Ravi Condamoor. "Our detailed, high-fidelity listening analytics go beyond the usual social media monitoring prevalent today to deliver a more accurate picture of what consumers are saying about the most vital banking elements".

Serendio will be conducting free Webinars on Nov 9th, Nov 16th and Nov 23rd at Noon EDT to discuss these findings. The Q3 2010 Serendio BankInsight Executive Summary is available for download at http://bit.ly/8YzzBq. For further information, please call Serendio at +1-408-496-9930 or email at bankinsight(at)serendio(dot)com

About Serendio:
Serendio offers a Customer Experience Analytics system as a SAAS (software as a service) platform that transforms unstructured content from the Web (including Blogs, Forums, Review Sites and Social Media) and Internal company data (including Chat, E-mails, Survey questions and Call center transcripts) into actionable insights. Customers use our platform to improve product innovation, enhance customer service and shape better marketing strategies. Serendio customers come from various industry segments including Apparel, Automotive, Banking & Finance, Consumer Electronics, Gaming, Insurance, Media & Entertainment, Pharmaceutical and Travel. Serendio is headquartered in Santa Clara, California. For more information, please visit http://www.serendio.com.

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