RBI Customer Survey: customer feedback as a guide for RBI
How RBI uses customer feedback to improve services and promote sustainable financial solutions.
Customer satisfaction is a key concern at RBI. In this interview, Elitza Kavrakova, Head of Institutional Clients, and Daniel Rath, Head of Corporate Customers, talk about the latest customer satisfaction survey and how the valuable feedback from customers is being used to further develop services and business strategies. They explain why the survey is so important to RBI, the surprising findings and the measures being taken to improve customer relations.
Why is RBI conducting a customer satisfaction survey?
Rath: We see this annual survey as a great way to systematically quantify the day-to-day experience of our customers. It helps us to communicate these valuable insights throughout the bank.
Kavrakova: Exactly, and it also allows us to better understand what motivates our customers and how we can further improve our services. It is just a very valuable tool. It also helps us to better understand our current position in relation to our competitors.
Which customers were invited and how were they chosen?
Kavrakova: We invited all corporate and institutional customers. The great thing is that this survey was not only conducted here at the head office, but also in the same format in our network banks.
Rath: Yes, and the selection of these customers is very targeted to ensure that we get a comprehensive picture. We want to hear from a wide range of our customers.
What were the key findings and were there any surprising responses?
Kavrakova: Around 750 customers took the time to participate in the survey. This alone shows us how important their relationship with RBI is to them. Our self-image as a bridge to CEE continues to be a strong differentiator from our competitors and an added value argument for our customers when they decide who to work with.
Rath: We score particularly well in terms of customer service and expertise. Where we definitely need to improve is in our processes - especially in digital interaction, KYC (Know Your Customer) and lending. We also need to be more proactive in approaching customers with solutions such as ESG.
Can you give us an example of direct customer feedback that has been particularly valuable?
Rath: All customer feedback is valuable, but we learn the most from critical feedback. It is a great source of change for us.
Kavrakova: Absolutely, critical feedback shows us exactly where we need to take action. This helps us to improve things and make our customers even happier. One clear goal is to become even better at delivering innovative digital solutions. Another is to support our customers even better in the area of ESG.
How will this feedback be incorporated into our business strategy? Are there any actions we can take in the short term?
Rath: We are looking very closely at this feedback, setting priorities for 2025 and looking at all investments through the eyes of our customers.
Kavrakova: Exactly, and we are also looking at what smaller things we can do immediately with our product experts to deliver quick wins. We are very agile in that respect.
How do you think the improvements resulting from the survey will strengthen our customer relationships?
Rath: A good example is GKYC (Group Know-Your-Customer), where we are putting a lot of effort into providing even better service to our top customers. The extra effort has paid off and we are seeing a significant improvement in feedback compared to last year.
Kavrakova: Yes, these improvements show our customers that we take their concerns seriously and are actively working on solutions. The survey gives us clear signals about which products and services our customers are currently interested in and which offers they would like to know more about. This is a clear incentive for our account managers and greatly strengthens the trust and relationship with our customers.