Mid-size banks have long held the advantage over big banks in providing superior customer experience. For the first time in the 11-year history of the J.D. Power Retail Banking Satisfaction Study, big banks have now surpassed mid-sized banks in customer satisfaction. Losing this advantage puts mid-size banks at a crossroads: continue using traditional tools and focusing on traditional constituencies and risk irrelevancy in a fast-changing market, or identify problem areas and take the steps needed to fix them. Easier said than done--right?
Jim Miller and Paul McAdam of J.D. Power explore solutions for specific problem areas that mid-size banks face.