FCA performance scorecard - Personal Current Accounts
The UK Regulators Network (UKRN) has worked with the Financial Conduct Authority (FCA) and other regulators to produce scorecards on the performance of regulated sectors. The performance scorecard highlights some of the information available on personal current accounts and aims to help customers choose their provider.
As a fast growing organisation, at Cynergy Bank our model is based on providing excellent service to all of our customers. Our customers have consistently shown their confidence in our service levels, evidenced by our leading net promoter (NPS) and customer effort scores. (Our NPS was +52 at the start of 2020 - significantly above the industry average of +10).
However, there is no doubt that 2020 was a challenging year and we experienced some issues as a result of enhancing our Online Banking security, managing through the uncertainty around Brexit and the unforeseen impact of COVID-19 and adapting to remote working. We would like to apologise to our customers for any inconvenience they experienced during this period.
As a result of customer feedback we invested significantly and introduced a number of changes towards the end of 2020 to improve our service to customers. These included:
Getting in touch
- Customers told us that the times they need to get in touch with us have changed. We therefore extended our Customer Service opening hours to 8.00am to 8.00pm weekdays and 9.00am to 5.00pm on weekends and bank holidays. This offers our customers greater flexibility to call us when it suits them and we believe will make a tangible difference to our customers.
Making Life easier
- We introduced an authenticator app to provide customers with additional security to access and manage their accounts online. When customers told us they had difficulties using the app, we listened and made a number of tangible improvements including:
- Biometric support so you can use your fingerprint or Face ID instead of your 4-digit app PIN
- The ability to use the app and mobile banking on the same device so you could bank on the go
- Added an online app reset feature so, if you get locked out of the app, you can reset it yourself 24/7 rather than call us
We are committed to continually improving our service to our customers and we will continue to challenge ourselves and strive for improvement throughout 2021 to provide the market leading customer service our customers deserve.