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Navy Federal Credit Union Ranks #1 for Customer Experience

Navy Federal Credit Union remains the industry leader for a second consecutive year, ranking No. 1 among U.S. companies in KPMG’s 2019 U.S. Customer Experience Excellence Report. The credit union is being recognised for delivering the best customer experience, taking the top spot over 295 brands across 10 business sectors.

“Our mission is to serve as our members’ trusted financial partner for all of life’s important decisions,” said Mary McDuffie, president/CEO of Navy Federal. “Our entire team is committed to meeting our members’ needs and we are always looking for new ways to make the member experience even better.”

KPMG ranked brands across Six Pillars of Customer Experience Excellence to identify the leaders in each country: Personalisation; Integrity; Expectations; Resolution; Time & Effort and Empathy. Navy Federal is one of only five brands to receive a score 8.5 or more.

“KPMG’s research shows us that leading organisations have built unique emotional connections with their customers, and continue to deliver impactful experience across the customer lifecycle,” said Julio Hernandez, U.S. Customer Advisory Practice Lead, KPMG LLP. “Navy Federal Credit Union once again tops our leaders table because our research indicates that they have a personal, individualised understanding of their members, allowing them to put their members firmly at the center of their decision making.”

The research for this year’s U.S. report was conducted via an online survey and was completed in May 2019. A total of 7,552 U.S. consumers who had interacted with a brand in the last six months were interviewed. Each brand needed a minimum of 100 consumer responses to be considered.

Year after year, Navy Federal is recognised for its dedication to creating a satisfying work environment and an exceptional member experience. Earlier this year, Navy Federal celebrated its 9th year on the FORTUNE 100 Best Companies to Work For® List, ranking 29th, the highest in its history. Other notable accolades include being the Industry Leader for Banks/Credit Unions (multichannel) in Customer Experience in Forrester’s 2019 CX Index™ and No. 7 in Best Workplaces™ in Financial Services & Insurance 2019.

About Navy Federal Credit Union: Established in 1933 with only seven members, Navy Federal now has the distinct honor of serving over 8 million members globally and is the world’s largest credit union. As a member-owned and not-for-profit organisation, Navy Federal always puts the financial needs of its members first. Membership is open to all Department of Defense and Coast Guard Active Duty, veterans, civilian and contractor personnel, and their families. Dedicated to its mission of service, Navy Federal employs a workforce of over 18,000 and has a global network of 336 branches.

Federally insured by NCUA. Equal Opportunity Employer.

KPMG named a global ‘Leader’ in customer service consulting

The ALM Vanguard report ranks Customer Service consulting firms based on their capabilities to create client impact through their depth of expertise and the ability to deploy across a range of engagement models. In ALM’s in-depth analysis of global firms, the report highlights the effectiveness of KPMG’s Six Pillars approach to Customer Experience Excellence.

“KPMG approaches customer service consulting within the context of accelerating differentiated customer experiences through the lens of the Six Pillars of [Customer] Experience Excellence: Personalisation, Integrity, Expectations, Time and Effort, Resolutions and Empathy,” writes ALM’s Matthew A. Merker, Senior Analyst, Management Consulting Research. He continues, “[The firm] advocates that if clients incorporate all Six Pillars into their customer experience, they will outperform the rest of the market.”

ALM’s report cites KPMG as ‘Best in Class’ for its Customer Service Operating System capability and recognises the impact of KPMG’s Connected Enterprise framework in helping clients transform their customer experience.

“KPMG’s customer service designs are integrated with middle- and back-office functions through [the firm’s] Connected Enterprise offering, which provides a symbiotic relationship of information sharing throughout the client organisation,” the report states. “This closes performance gaps in customer interaction and service delivery while providing transparency into opportunities for improvement in daily operations to increase efficiency and reduce costs.”

“Customer service has the largest impact on customer experience in the battle to win, retain and grow today’s customers,” says Julio Hernandez, Global Customer Centre of Excellence and US Customer Advisory Lead. “To deliver excellence and a differentiating customer experience, organisations need to think beyond traditional ‘operations’ and be more intentional in the design of the service experience. They must connect customer service to the Connected Enterprise and do so in a way that makes economic sense.”

The ALM report also praises KPMG’s service delivery model, highlighting KPMG’s effective use of “four key components” to help clients improve their delivery of a valuable customer experience:

Customer service economics that includes rapid assessment of the customer-service landscape to prioritise change that balances cost-to-serve with value.

Intentional service design that enables best practice customer journeys and service processes through intelligent data engineering and market alliances.

Innovative self-service capabilities that empower customers to self-serve more often and interact across channels.

Modernised workforces that are equipped with digital tools to augment capability and deliver the highest value.

Adrian Farrugia, Associate Director leading the Customers & Operations Advisory at KPMG in Malta stated that “We are thrilled that KPMG has been ranked as the leading CX services. This reaffirms the trust our customers have in our abilities and approach which deploys a wealth of best practice from our Customer Experience Excellence Centre and the rich insights we have gained from millions of points of customer feedback.”