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Financial Services in Australia

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Macquarie Bank Logo
Macquarie Bank overall Effort Score
Black Star 1

56

VS

Black Star 2

56

last Quarter

Sector Effort Score benchmark
Black Star 3

60

VS

Black Star 4

59

last Quarter

Brand analysis

Macquarie’s Overall Effort Score has remained flat wave on wave – sitting at 56.

Its stasis, however, has seen it drop a position in the Financial Services in Australia table. The brand has been overtaken by Westpac after it added +3 to its Overall Effort Score wave on wave.

Diving into Macquarie's scores in the pillars, there are some warning signs for the brand. Style of Communication and Valuing the Customer have dropped by -2 wave on wave. Its Overall Effort Score has been preserved by a +2 rise in Knowledge & Expertise, while Speed of Resolving Problems remained flat.

In April, Macquarie unveiled its vision for AI to reduce the “cognitive load” for consumers, with more than 30 AI-augmented products and services in the works. How will this impact how easy the brand to do business with? The Customer Effort Index will keep track of whether this strategy is working. 

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Style of Communication
59

vs

61

last quarter

44% say the politeness of their customer service agents is 'excellent'

40% rate the ability to communicate with them in their chosen language (other than English) as ‘excellent’

 
Knowledge & Expertise
56

vs

54

last quarter

47% rate the expertise of the customer service agent as 'excellent'

43% say the way details were clearly explained to them was 'excellent'

40% rate how well the customer service agent understood their particular problem or question as 'excellent'

 
Valuing the Customer
60

vs

62

last quarter

41% rate this brand as 'excellent' for how they made them feel valued/important as a customer

45% say the way they understood their needs was 'excellent'

58% say they were 'very satisfied' with the outcome of their communication or contact

 
Speed of Resolving Problems
53

vs

53

last quarter

41% rate how easy it was to find the information they wanted on the website/app as 'excellent'

42% rate how they were able to achieve what they set out to do, or resolve their issue, with the first agent they contacted as "excellent"

46% say they made it ‘very easy’ to achieve what they set out to do