Westpac named Major Business Bank of the Year - Customer Satisfaction
Westpac's focus on understanding its customers and going the extra mile to help improve their businesses has contributed to it being named Major Business Bank of the Year, Customer Satisfaction from Roy Morgan Research for the fourth consecutive year.
The winner is Westpac
Westpac was revealed the winner last night at Roy Morgan Research fourth annual Customer Satisfaction Awards gala dinner in Melbourne. Michele Levine, CEO of Roy Morgan Research, presented 37 awards to businesses that topped their respective fields with outstanding levels of Customer Satisfaction, as judged by more than 50,000 consumers and 12,000 business decision-makers throughout 2014.
Fourth year running
Alastair Welsh, Westpac’s General Manager Commercial Banking said: “We’re delighted to be rated Major Business Bank of the Year, Customer Satisfaction from Roy Morgan Research for the fourth year running. These awards are acknowledgement that we are making excellent progress in the eyes of those who matter the most – our customers. The result illustrates our increased focus on the service that we offer our business customers and recognises our people and their commitment to providing customers with high-quality, right-first-time, consistent experience.”
Westpac business customers have welcomed a number of new initiatives from the bank to help them manage their business anytime, anywhere. This includes 24/7 Bank Now branches, Connect Now high definition video conferencing enabling businesses to access expert advice when it suits them; and Mobile PayWay enabling small business customers to accept credit and debit card payments with their smartphone.
Westpac will also be offering its business customers access to Westpac Live this year, a new digital banking platform providing the ability for customers to run their business anytime, anywhere. Customers will have a personalised dashboard to save administration time, ability to accept, make and approve payments on the run, view and transact in foreign currency, and seamlessly switch between personal and business banking profiles
Westpac’s leading ranking in the Roy Morgan Research comes after its business banking division was placed number one in business customer satisfaction amongst the major banks during 2014, according to DBM Consultants.^
About Roy Morgan Research
Roy Morgan Research is the largest independent Australian research company, with offices in each state of Australia, as well as in New Zealand, the United States and the United Kingdom. A full service research organisation specialising in omnibus and syndicated data, Roy Morgan Research has over 70 years’ experience in collecting objective, independent information on consumers.
In Australia, Roy Morgan Research is considered to be the authoritative source of information on financial behaviour, readership, voting intentions and consumer confidence. Roy Morgan Research is a specialist in recontact customised surveys which provide invaluable and effective qualitative and quantitative information regarding customers and target markets.
^DBM’s Business Financial Services Monitor (BFSM) reviews the performance of Australian banks across all business markets. It is based on an annual survey of around 20,000 decision makers in business banking and is reported to be the largest survey of its type and the only one that covers Micros, SMEs, and Corporate and Institutional businesses, using the same performance measures. The BFSM is conducted continuously throughout the year and asks about decision makers’ satisfaction with any banks they deal with, focusing on their Main Financial Institution (MFI). It shows how the banks perform in each market as well as providing an overview of comparative performance across all markets. Results for the major banks in each market are released monthly.