Maybank emerged as the leading brand and outperformed all other brands in customer retention with 41% of customers planning to stay with the bank according to Forrester’s 2021 inaugural Malaysia Customer Experience Index (CX Index).
Maybank was among the positive score compared to other top-bank in Malaysia with 52% positive emotional feedback from its customers, just below Bank Rakyat’s 53% mark in that category.
The report further reveals that all seven banks fell in the OK category, with all scores falling within a tight range, indicating a lack of differentiation within the industry primarily driven by the challenge that the Malaysian banks face with building positive emotional engagement with their customers.
The COVID-19 pandemic that caused businesses to shut down has at the same time put banks dig into their profit to keep their businesses afloat.
Based on the survey of more than 2,000 consumers in Malaysia, Forrester’s CX Index benchmarks the CX quality of seven multichannel banks – AmBank, Bank Rakyat, CIMB Bank, Hong Leong Bank, Maybank, Public Bank, and RHB Bank – across three key dimensions: emotion, effectiveness, and ease of use.
