Bank of America today announced it received the highest recognition in customer satisfaction for retail banking advice in the J.D. Power 2019 U.S. Retail Banking Advice StudySM1. This top spot and 5 out of 5 Power Circle Rating, which is “among the best,” are firsts for Bank of America in the annual study of retail banking client satisfaction with bank-provided advice offerings.
“We work tirelessly to deliver exceptional client care across every touchpoint with our 66 million clients,” said Dean Athanasia, president of Consumer and Small Business at Bank of America. “We could not be prouder of this top ranking from J.D. Power for our leading advice offerings, and will continue to invest heavily in our people, our services and our technologies to ensure the best and most modern client experience possible.”
We believe a significant driver of the recognition was Bank of America’s Life Priorities model, which tailors financial advice for customers at different life stages. In addition, the bank’s high-tech, high-touch approach was highlighted as a leading industry differentiator. This approach delivers industry-leading advice to clients in whichever manner they wish, whether it is digital, face-to-face or a combination of both. In line with this strategy, the bank recently launched the Academy, an all-employee learning curriculum to foster deeper relationship-building and personalize each client’s experience.
In its second year, the J.D. Power U.S. Retail Banking Advice Study ranked Bank of America the highest in customer satisfaction with a score of 839. The study measures satisfaction across 23 of the largest banks across the U.S.
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 1,800 lending centers, 2,200 Merrill Edge investment centers and 1,500 business centers; approximately 16,300 ATMs; and award-winning digital banking with more than 36 million active users, including over 26 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
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Mike Conner, Bank of America
1The 2019 U.S. Retail Banking Advice Study surveyed 3,719 retail bank customers in the United States who received any advice/guidance from their primary bank regarding relevant products and services or other financial needs in the past 12 months. For more information about J.D. Power’s U.S. Retail Banking Advice Study, visit https://www.jdpower.com/business/resource/us-banking-advice-satisfaction-study.