Banking Confidence Monitor 2019

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The 2019 edition of the Banking Confidence Monitor (Vertrouwensmonitor Banken) was presented on 13 January 2020. The Confidence Monitor is a survey in which banks enter into a dialogue with consumers, representatives from interest groups and supervisory authorities, where they discuss the standard of the services that banks provide to retail customers. ABN AMRO was one of the banks involved in preparing the Banking Confidence Monitor 2019. The results from the survey – coupled with ABN AMRO’s own findings – allow the bank to further identify what areas are performing well and what areas offer room for improvement.

The Confidence Monitor not only presents the results of the customer survey that was carried out by market research agency Ipsos: it also contains the findings from various issues researched by the Netherlands Authority for the Financial Markets (AFM). The 2019 edition of the Banking Confidence Monitor also contains a new section: an exploration into financial digital inclusion.

Below are the scores for ABN AMRO, set off against the scores for the sector overall. Based on these scores, the banks have defined a series of generic opportunities for improvement; each bank then identifies its own active improvements for giving shape to those opportunities.

Results of the Banking Confidence Monitor 2019

Element     Sector 2019 Sector 2018 ABN AMRO 2019 ABN AMRO 2018
Confidence & pereceptie*
Confidence in banking sector 3,0 3,0 3,0 3,0
Confidence in own bank 3,3 3,3 3,2 3,3
Customer focus 34 3,4 3,3 3,4
Transparency 3,5 3,6 3,5 3,5
Expertise 3,8 3,8 3,7 3,8
Service & use
Online services* 4,4 4,4 4,2 4,3
Customer contact* 4,2 4,2 4,1 4,1
Complaint handling* 3,2 3,3 3,1 3,3
Availability**
- Online banking 99,81% 99,70% 99,87% 99,40%
- Mobile banking 99,88% 99,70% 99,87% 99,40%
- iDeal*** 99,87% 99,59% 99,83% 99,85%

*Customer survey carried out by Ipsos (scores on a scale from 1 to 5).
** The availability percentages for online banking and mobile banking reflect the objective availability during prime-time hours over the past year (July 2018 to June 2019). Figures are taken from the banks’ own measurements that were submitted to and verified by the Dutch Payments Association (Betaalvereniging Nederland).
*** The availability percentages for iDEAL are stated for the six banks that have a statutory obligation to report on this: ABN AMRO, ING, Rabobank, SNS, ASN Bank and RegioBank. They publish these figures themselves. The smaller banks are not subject to this obligation and do not publish this information. The availability data published by the six banks are the figures from the third quarter of 2018 to the end of the second quarter of 2019, a total of twelve months. The sector figure of 99.88% is the weighted average for the period from the third quarter of 2018 to the end of the second quarter of 2019 and is calculated and published by Currence. 

Read the full report: ‘Banking Confidence Monitor 2019 (dutch only)

Opportunity for improvement 1: Continue actions in relation to interest-only mortgages

Banks invite customers to engage in an informative dialogue and enable them to make an informed decision about their interest-only mortgage. All customers remain part of the structural customer approach to be set up, even if they do not initially avail themselves of the possibility of an informative dialogue.

ABN AMRO’s initiatives relating to this opportunity for improvement
ABN AMRO will proactively contact any client whose interest-only mortgage represents a potential risk, to raise their awareness of any risks and what steps they can take to improve their situation.  

Opportunity for improvement 2: Continue efforts towards financial digital inclusion

Society is becoming increasingly digitalised. Digital services offer many opportunities to help groups take care of their banking more easily. Banks have also already developed many initiatives specifically aimed at target groups that have difficulty keeping up digitally. The extra insights from the exploratory study are a valuable supplement to this. The sector will therefore continue to make efforts to expand these initiatives and improve the accessibility of its services for vulnerable groups.
 
ABN AMRO’s initiatives relating to this opportunity for improvement
ABN AMRO wants to actively improve the financial autonomy of vulnerable groups. Examples of what we are doing:
 
  •  ABN AMRO employs Financial Care Coaches who, as a free service, help older and immobile clients to become more financially self-sufficient and to understand how the digital world works. Financial Care Coaches visit clients at home, or talk to them using Video Banking or by telephone. They help clients with their day-to-day banking, and are experts on matters such as donations, inheritance, mortgages and estates. If a client passes away, a Financial Care Coach will contact the surviving partner (if he or she is older than 65) to offer assistance with their day-to-day banking. Click here to watch a video of one of ABN AMRO’s Financial Care Coaches.
  •  ABN AMRO hosts Online Banking workshops for senior citizens throughout the Netherlands. It has also developed a handy guide to Online Banking specifically for older clients. The advisers at the branch offices can call in support when they assist older clients. ABN AMRO also works together with senior citizens’ associations (such as ANBO, to organise the annual 10-day security event Veiligheids10daagse), dementia information platform Dementie.nl and domestic safety organisation Veilig Thuis. 
  •  Our website contains various tips about secure banking and offers tips to stop and prevent financial abuse. 
  •  The bank’s Grip (dutch only) app and Multibankieren (dutch only)help clients to understand and track their payments, to help them avoid payment difficulties. If that does not work, and a client nevertheless runs into problems, the bank can assign a Financial Grip Coach (dutch only): a certified budget coach who helps clients who are struggling to overcome their debt problems by themselves. 

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