The study highlights that personal recommendations remain the leading factor in choosing a bank, with 50% of retail clients and 55% of private banking clients citing referrals as crucial.
Swiss banks continue to satisfy most customers, yet they face challenges in generating strong customer advocacy, according to the latest Customer Experience Maturity Study 2025. The survey of 1,250 retail and private banking customers, alongside interviews with 47 banking professionals from 13 institutions, reveals that clients are generally content with daily banking services.
However, many hesitate to recommend their bank to others—an important wake-up call in an industry where word-of-mouth remains the top driver of new business.
Key Insights from the Survey
The study highlights that personal recommendations remain the leading factor in choosing a bank, with 50% of retail clients and 55% of private banking clients citing referrals as crucial. However, Swiss banks currently fall short in offering fully digital onboarding experiences, with none providing seamless, end-to-end digital account opening free from media or channel interruptions.
Though satisfaction with everyday banking is high, significant gaps exist in investment and personal financial management services. Over half of respondents identified investment options as critical to their CX, yet only 22% of women and 31% of men actively use these services in retail banks—likely due to limited user experience offerings.
Net promoter scores (NPS) across the sector reveal the challenge Swiss banks face in building lasting emotional connections. Only one neobank exceeded an NPS of 50, scoring 64, while the best traditional bank managed 39 and the lowest just 11.
CX-Maturity Assessment
The study also evaluated Swiss banks’ CX maturity based on Deloitte’s CX-Maturity model, which assesses capabilities across six dimensions. Despite substantial investments, overall CX maturity remains low. Smaller, digital-first banks show higher maturity levels and have set ambitious goals for improvement, putting pressure on traditional players to adapt rapidly.
Strategic Moves to Deepen Customer Loyalty
The study recommends that, to remain competitive and foster stronger customer loyalty, banks should prioritise CX at the strategic level, with strong leadership backing. It also advises establishing dedicated CX Centres of Excellence to align efforts and break down organisational silos.
Designing seamless, consistent experiences across digital and physical channels, mapping real customer journeys, and leveraging data analytics for personalisation and quick decision-making are highlighted as essential actions.
These strategies are viewed as vital for meeting evolving expectations and maintaining a strong market position.
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