UK banks July – HSBC Accounts for Highest Share of Negative Customer Comments Online with 22 per cent - as Planned Job Losses Continue

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ING Direct achieves highest Net Sentiment Score (NSS) with 51% according to latest report from DigitalMR

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This is good news for ING Direct. Customers have consistently rated it highly this year but it will be interesting to see now that Capital One has bought ING Direct USA, whether this sentiment will change.”

Social media research specialist DigitalMR releases latest findings on what customers are saying about UK high street banks online.

DigitalMR analysed thousands of customer comments about high street banks for the month of July 2011. Just over two thirds (68%) of these customer views are positive, compared with 32% negative.

The banks that receive the highest share of online mentions are: HSBC (19%), Lloyds TSB (17%), Halifax (14%) and Natwest (13%).
There is a large difference in the positive and negative mentions that some of these banks generate. Positive: Lloyds TSB (17%), HSBC (16%) and Halifax (15%) received the highest share of positive posts. Negative: however HSBC (22%) and Lloyds TSB (19%) received a higher proportion of negative comments to positive ones and were the most negatively viewed banks in general with Halifax in third place with 12%.
By calculating the difference in the number of positive posts to negative ones the winner for July is ING Direct with a Net Sentiment Score (NSS) of 51% followed by Bank of Ireland 48%. Across July all banks measured achieved a positive NSS, however HSBC ranks the lowest with a NSS of 25%.
DigitalMR’s report (powered by SociaNuggets analyses thousands of customer comments posted via a range of relevant finance related websites and open access social media platforms. It measures, not only the number of comments posted by consumers on the internet, but also sentiment – whether these posts are positive or negative.
Results are based on comments posted by consumers on the major UK banks: Lloyds TSB, HSBC, Halifax, NatWest, Bank of Ireland, Santander, Barclays, RBS, ING Direct, and Clydesdale Bank.
Managing Director of DigitalMR, Michalis Michael commented: “This is good news for ING Direct. Customers have consistently rated it highly this year but it will be interesting to see now that Capital One has bought ING Direct USA, whether this sentiment will change.”
On the other hand, two of the banks with the lowest NSS - HSBC and Lloyds TSB have both been in the news recently, linked with job cuts. This appears to be having an adverse effect on customer opinion”.
1)    Net Sentiment Score (NSS)
NSS provides an overall percentage score of net positive posts. A positive score means a bank attracts more positive than negative posts, while a negative score suggests a higher proportion of negative posts.
All of the banks measured in July achieve a positive Net Sentiment Score (NSS), with an average NSS of 36%. This is good news for the banking industry as it is now attracting more positive sentiment across the internet than it does negative. ING Direct achieved the highest NSS with 51%, while HSBC was lowest with 25%

For Net Sentiment Score ranking and:

2)    Breakdown of positive and negative posts - link to full release

3)    Features and Services
DigitalMR measured thousands of customer posts across July, regarding the services and features that banks offer. Services attracting a much higher proportion of negative mentions to positive ones were: Customer Care (19% negative vs 10% positive) and Bank Employees (13% negative vs just 7% positive).
While the service attracting a higher proportion of positive comments was Credit Cards with (18% positive vs 12% negative).
4)    In their words –customer comments
ING Direct
“I love ING bank! They offered great products and great service. I first started by taking advantage of their online savings account. I subsequently opened 7 more savings accounts and a checking account for bill pay purposes. I think I only called their service centre once, just to say hello to a real person. Sure enough, the customer service rep was just as friendly as I thought they would be”.
http://www.mybanktracker.com/bank-reviews/view/ING-Direct
“I have had accounts with ING Direct for over 3 years, and have been consistently pleased with the straight-forward approach in which the company operates. There are no fees whatsoever associated with their banking products, and they offer the most competitive rates on savings accounts (currently @ 1%). Also, the current rate they offer on home mortgages is about 2.9%. The customer service is exceptional, and I just love the bold colours on their website!”
http://www.mybanktracker.com/bank-reviews/view/ING-Direct
HSBC
“I have been a customer of the bank for 24 years and have used their internet banking for a good few years. This new secure key is the bane of my life. You have to remember to keep the key with you at all times as without it you cannot log on. It was so much easier when you just had to type in your security password and your ib number. I wish they would bring back the old internet banking option”.
http://www.reviewcentre.com/Internet-Banking/HSBC-Internet-Banking-www-hsbc-co-uk-review_1378235

“Best intentions from HSBC but poor show and I don’t know a single person who is happy with their new Online banking system. Why can’t you still log in and check your balances, make payments to approved payee's etc as per before BUT only use the fob for making changes??????????” .
http://www.reviewcentre.com/Internet-Banking/HSBC-Internet-Banking-www-hsbc-co-uk-review_1378932

More comments (link to full release)

5)    For more on how can Banks use social media to their advantage and more about the syndicated banking report (link to full release)

Contact
For regular reports and more information:
Michalis A. Michael
mmichael(at)digital-mr(dot)com,
tel: +44 751 571 0370
http://www.digital-mr.com

For more about DigitalMR and SocialNuggets (click here)

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Michalis A. Michael
Digital MR
+44 751 571 0370
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