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Financial Services in the AUS

Sector average score

White star

57

Knowledge & Expertise

58

Style of Communication

62

Speed of Resolving Problems

54

Valuing the Customer

59

Bendigo makes it a year. The brand has now been top of the Financial Services in Australia table for four straight quarters – but it certainly can’t afford to let up.

Bank of Queensland is making ground – now only -2 points behind in Overall Effort Score. In Q4 2024 it was -3 and in Q2 2024 it was -8. With each wave it gets closer to taking the pole positon for itself.

For now though, Bendigo reigns supreme, leading by at least one point in every CEI pillar.

It’s been a great three months for National Australia Bank, Suncorp Bank and Macquarie Bank, which have all climbed up the table this wave. Commiserations to Alex and ANZ, whose scores have decreased wave on wave.

Executive summary Executive Summary arrow blue Executive Summary arrow black How to use this Index How to use arrow blue How to use arrow black
Rankings

The Rankings

Performance Tracker

Performance Tracker

Rank

1

Knowledge & Expertise

69

Style of communication

74

Speed of resolving problems

64

Valuing the customer

67

2

Knowledge & Expertise

65

Style of communication

67

Speed of resolving problems

61

Valuing the customer

66

3

Knowledge & Expertise

63

Style of communication

68

Speed of resolving problems

59

Valuing the customer

62

4

Knowledge & Expertise

60

Style of communication

64

Speed of resolving problems

57

Valuing the customer

64

5

Knowledge & Expertise

60

Style of communication

65

Speed of resolving problems

58

Valuing the customer

61

5

Knowledge & Expertise

61

Style of communication

65

Speed of resolving problems

55

Valuing the customer

61

7

Knowledge & Expertise

58

Style of communication

63

Speed of resolving problems

54

Valuing the customer

60

8

Knowledge & Expertise

59

Style of communication

63

Speed of resolving problems

55

Valuing the customer

60

9

Knowledge & Expertise

56

Style of communication

61

Speed of resolving problems

52

Valuing the customer

57

10

Knowledge & Expertise

53

Style of communication

60

Speed of resolving problems

51

Valuing the customer

60

10

Knowledge & Expertise

58

Style of communication

57

Speed of resolving problems

49

Valuing the customer

54

12

Knowledge & Expertise

55

Style of communication

60

Speed of resolving problems

50

Valuing the customer

54

13

Knowledge & Expertise

37

Style of communication

44

Speed of resolving problems

32

Valuing the customer

45

Brand

Bendigo Bank
Bank of Queensland
National Australia Bank
AMP Bank
Suncorp Bank
Commonwealth Bank of Australia
Bankwest
Up
Westpac Banking Corporation
Macquarie Bank
Alex
ANZ
86 400

Effort

i

X

Effort

The Overall Effort Score is calculated using modelling on the results recorded in each of the four pillars

67

65

62

61

60

60

59

58

55

54

54

53

39

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Knowledge & Expertise

i

X

Knowledge & Expertise

Having knowledgable customer service agents that can clearly explain details to customers impacts the score in the ‘Knowledge & Expertise’ pillar

69

65

63

60

60

61

58

59

56

53

58

55

37

Style of Commun-
ication

i

X

Style of Communication

How polite customer service staff are and whether they can communicate in a customers’ chosen language contribute to ‘Style of Communication’ 

74

67

68

64

65

65

63

63

61

60

57

60

44

Speed of Resolving Problems

i

X

Speed of Resolving Problems

A quick resolution and short holding times ensure a strong ‘Speed Solving the Problem’ score

64

61

59

57

58

55

54

55

52

51

49

50

32

Valuing the Customer

i

X

Valuing the Customer

Companies that make their customers feel valued and understand their needs perform well in the ‘Understanding & Valuing the Customer’ pillar

67

66

62

64

61

61

60

60

57

60

54

54

45

NPS

i

X

NPS

NPS scores can be used to compare and contrast with Effort for an additional perspective

-32

-45

-14

-48

-48

9

-43

-20

-24

-47

38

-17

-1

+

+

+

+

+

+

+

+

+

+

+

+

+

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Last updated: Jan 2025

Next update: Apr 2025

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Executive summary

  • ‘Valuing the Customer’ is where the tightest competition can be found within Effort for Financial Service brands in Australia. Just seven points separate first and seventh.
  • We say

    Financial brands can show they value their customers by presenting them with a range of solutions or options that are right for their specific situation. It’s about being flexible while reliable, empathetic but not patronising, charming without being fake. Customer service teams that get this right – especially through their automation channels – will win in this space in 2025.

How to use the Customer Effort Index

Customer Effort Scores for the quarter are presented in the rankings, ordered by highest Overall Effort Score first, to show which brand scored highest with its customers for that period. Individual brand ratings against the four pillars take us underneath that Overall Effort Score, with brand-specific explanatory analysis from the CEI Editorial team.

You can use the display above to toggle between score, ranking and individual pillars. Clicking 'Performance Tracker'  enables you to analyse the performance over time.

The Customer Effort Index is calculated using a self-referential scale that is recomputed every wave based on what the minimum and maximum values are. This enables us to see how each brand is performing compared to the others within the data set. See About for more on the methodology. 

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