When choosing a financial partner, the focus is on customer service and speed

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When choosing a financial partner, people look for greater customer focus, flexibility and speedy and efficient service. These are the results of a survey conducted by the e-money institution Guru Pay to find out why people choose one or another financial institution, according to a press release.

“We wanted to find out what our own Customer Recommendation Index (CRI) is, but in the survey, we saw the need to look a little wider, as the Fintech sector is growing very fast in Lithuania.

It is becoming more and more important to know what the customer cares about when choosing one or another financial partner, and the benefits of such surveys are mutual – financial institutions know where they need to improve, and improvement allows customers to receive even higher quality services,” says Aleksandras Karpickis, CEO of Guru Pay.

39% of the survey respondents identified improved customer service, such as understanding, flexibility and courtesy, as particularly important. Meanwhile, fast and efficient service was considered very important by 34% of respondents.

13% said that the price of services was the most important factor, while 14% said that the security of funds was the most important factor.

In addition, 54% of respondents said they had already chosen another financial institution because of unsatisfactory customer service, 31% because of the slowness of the processes, 12% because of the price, and 3% because they had to open a new account.

Guru Pay itself has a Customer Recommendation Index (CRI) of 91% and is an Electronic Money Institution (EMI) providing e-money and payment services to customers in Lithuania and other EU countries, as well as Switzerland, Norway, Iceland, Liechtenstein, San Marino and Monaco. The company is active in financial services, i.e. e-money issuance, payment execution (local and international), IBAN account opening, SEPA payments, etc.

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