In its March 2, 2009 issue, BusinessWeek, using data from market researcher J. D. Power & Associates and the magazine itself, named KeyBank #11 and the top-named bank on its list of top 25 Customer Service Champs. In receiving this award, KeyBank joins a group of companies known for excellence in customer service, including Amazon.com, Lexus, Apple, LL Bean, JetBlue and Nordstrom.
We re delighted to receive this award from BusinessWeek, said Scott Carpenter, Vermont District President, KeyBank, because it says that our continual efforts to strengthen customer service are working. It s a testament to our excellent employees and their commitment to the communities they serve.
According to industry reports, the best way for a financial institution to stay ahead of the competition in today s market is to take care of its existing clients. In fact, a recent survey by Barlow Research states that 92 percent of banking clients who are satisfied with their bank will remain with their bank. Dissatisfied bank customers are planning to leave their banks at a rate of 28 percent, while another 34 percent of dissatisfied bank customers are considering a switch. In many instances, satisfaction and stability are even more important than pricing when it comes to selecting a bank or lender.
Service-oriented initiatives at KeyBank include
Key s Client Satisfaction Survey, begun in January 2008, is a Community Bank-wide initiative that focuses on the quality of service a client receives during interactions with Key s branches and call centers. The resulting insights drive Key s processes, products, and services.
Based on client insights, Key made enhancements to Key.com, which allow a user to save a partially completed application for completion at a later date, as well as partake in live customer service chats. The Apply Online feature received a Gold award from Corporate Insight.
In 2008, KeyBank rolled out Key Business Online, a powerful new technology that provides small businesses with many of the cash management services typically offered only to large companies, as well as more protections against check fraud.
The Key4Women program focuses on women business owners by providing them access to capital, ongoing education, networking opportunities and customized solutions.
KeyBank N.A. is one of Vermont s largest financial services companies. A strong proponent for local economic growth, Key companies provide investment management, retail and commercial banking, retirement, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally. The company's businesses deliver their products and services through branches and offices; a network of approximately 2,400 ATMs; telephone banking centers (1.800.KEY2YOU); and a Web site, Key.com, that provides account access and financial products 24 hours a day.