[This blog was cowritten by Luca Lo Scavo.]
Forrester’s Customer Experience Index (CX Index™) measures the quality of the customer experience a brand delivers to its customers to create and sustain loyalty. In 2023, we benchmarked CX quality at nine leading Italian banking brands.
- CX quality in Italian banks grew just enough to match the European average. In 2023, CX quality across Italian banks has made little improvement compared to 2022, yet with a modest 0.7-point increase, Italy has managed to match the European average CX quality score. Overall, Italy ranked third, following the UK and Germany. Five out of the nine Italian banks in the evaluation have increased their scores from 2022 but with a significant 10-point gap between the best and worst performer. Two out of the top three Italian banks are challengers with a predominant online presence. Intesa Sanpaolo has made significant gains by improving its mobile banking app in the last year.
- Banca Mediolanum leads the Italian ranking. Banca Mediolanum confirms its leadership in the Italian CX banking rankings for the third year in a row and positions itself well above the European industry average. It scores best on the top three drivers for CX quality and is the European leader in aligning with customers’ values. By focusing on customer relations and specializing in family banking, it provides the most emotionally positive experience in the sector.
- In Italy, communication with plain language drives loyalty the most. By using plain and accessible language in their communication with customers, banks can provide positive experiences, drive loyalty, and differentiate themselves from competitors. Intesa Sanpaolo, for example, communicates clearly and effectively by, for example, clearly labeling fees to help clients choose the right products and avoid unwanted charges.
For more detailed analysis of the Italian CX Index results — including specific brand scores and an overview of the most effective CX drivers and emotions — check out our reports, The Italy Banking Customer Experience Index Rankings, 2023, and The European Banking Customer Experience Index Rankings, 2023, or schedule an inquiry with us.