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CIT Bank Recognized for Delivering Best ’Humanized’ Customer Experience

September 02, 2022, 07:44 AM
Filed Under: Banking News

CIT Bank, the national online bank, has been ranked as No. 1 in the nation for humanizing the customer experience in an independent survey conducted by American Banker in partnership with Monigle, a brand experience agency.
The survey, which covered more than 50 financial institutions, ranked CIT Bank in first place for each of four key aspects of customer experience excellence -- behavioral, intellectual, emotional and sensorial.

CIT Bank finished in first place partly because "customers feel understood and empowered by the bank" and believe it "leads in offering unique and innovative products and services," according to a news article announcing the results in American Banker, a leading banking industry trade publication.

The findings were based on responses from nearly 6,000 consumers who were asked which financial institution best humanizes the customer experience.
"The key for banks that are looking to attract and retain those customers is understanding why they choose to bank with one financial institution rather than another," American Banker reported. "The research leverages a social sciences-based framework that evaluates the most important human elements of experience and accurately predicts customer satisfaction and loyalty."

Ravi Kumar, senior vice president and head of CIT Bank, said he was pleased but not surprised by the bank's No. 1 ranking, given the tireless effort that the CIT Bank team invests in making customers feel welcome and empowered.

"We do a lot of research on the customer journey and user experience. We try to make sure that we anticipate and meet the customer's needs," he said. "Being a digital bank, we have a customer focus that is different from a brick-and-mortar bank. Our customers recognize that coming in, and that's why they like us."

CIT Bank's strong customer focus enables it to compete effectively with much larger financial institutions, Kumar said.

"We humanize our products, and this differentiates us," he added. "Our savings products are more than basic saving vehicles. They help consumers build their nest eggs by providing them with such benefits as a higher interest rate and convenient features."

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