Gokongwei Group of Companies’ digital banking arm GoTyme was named by leading global research and advisory company Forrester as the leading bank in terms of customer experience (CX).
GoTyme Bank resulted from a partnership between the Gokongwei group and the multi-country digital banking group Tyme. It achieved the highest CX Index score and Net Promoter Score (NPS) among local banks in the survey.
CX Index assesses the overall customer experience, while NPS measures customer loyalty and advocacy.
Forrester, which conducts the rating, is a leading global research and advisory company that specializes in customer experience management.
It conducted the survey in the second quarter of 2024.
Gauge on customer satisfaction
The GoTyme Bank-commissioned study used Forrester’s CX Index framework in which 2,532 consumers of 11 brands, 10 bank brands and one e-wallet brand were polled.
GoTyme Bank emerged as the leader in terms of CX among all these 11 brands.
The bank obtained a score of 87, which is 4.8 points above the industry average.
The bank’s CX Index score falls within the “excellent” range. This is based on: an effectiveness score of 84 percent, above the industry average of 78 percent; ease of use score of 88 percent, above the industry average of 79 percent and emotion score of 83 percent, above the industry average of 73 percent.
It achieved the highest CX Index score and Net Promoter Score among local banks in the survey.
GoTyme has the best-in-class performance on four out of five priority CX drivers.
Compared to other banks, GoTyme Bank’s CX index has a three-point lead from the next bank and a 4.7-point lead from the next digital bank.
With an NPS of 76, GoTyme Bank also outshined the industry average of 58 by a significant margin. This indicates a higher percentage of customers who are likely to recommend the bank to friends and family.
The Forrester survey showed GoTyme Bank’s NPS with a 16-point lead from the next bank, a digital bank.