Omaha, Nebraska March 11, 2014 – The MSR Group today announced that North Carolina-headquartered First Citizens Bank is the recipient of its APECS® Customer Advocacy Award, Southern Region for the second consecutive year.
This award is given to the client retail banking organization receiving the highest Net Advocacy Rating (NAR®) among its customers within their respective region. To qualify as a recipient, clients must have achieved a rating significantly higher than the national average and rank highest among all APECS® clients. First Citizens Bank posted a 2013 Net Advocacy Rating 2.8 points higher than the 2013 APECS® National Average. First Citizens Bank’s rating is significantly higher than many of the nation’s largest banks, including Bank of America, Chase, US Bank and Wells Fargo. Net Advocacy Rating (NAR®) is one of the strongest indicators of customer retention and increased revenue for financial institutions.
“For more than 100 years, First Citizens Bank has been helping customers make more of the money they earn, save and invest,” said Doug Sprecher, senior vice president and manager of retail sales support at First Citizens. “Today we help consumers, businesses and institutions make smart financial decisions that create long-term value. This award is due in large measure to the efforts of our company’s hard-working associates. Being part of the First Citizens team means making a lasting difference for our customers, every day, by delivering on our Forever First® promise of quality, longevity and respect.”
Ratings are based on results from The MSR Group’s National Consumer Banking Survey, a study which collects feedback on customer satisfaction and advocacy for more than 100 banks and credit unions. To ensure accurate benchmark comparisons for clients, a stratified random sampling of retail banking consumers is conducted each quarter, gathering feedback on consumers’ banking experiences within each of four quadrants across the US. This rolling tracking study interviews 2,400 retail banking consumers annually.
“By measuring their customer experience, First Citizens is able to ensure they’re meeting their commitment to providing top quality service in every community they serve. We’re glad APECS® helps them to reach that goal,” said The MSR Group Chief Operating Officer Joel Vaslow.
Founded in 1898 and headquartered in Raleigh, N.C., First Citizens Bank provides a broad range of financial services to individuals, businesses, professionals and the medical community through a network of more than 400 branch offices, telephone banking, mobile and online banking and ATMs. First Citizens serves 17 states and the District of Columbia. The bank is a major subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), which has $21 billion in assets.
The MSR Group is a nationally recognized full-service market research company. Located in Omaha, Nebraska, The MSR Group offers a full complement of quantitative and qualitative methodologies across the financial, retail, advertising and agricultural industries. The firm’s proprietary APECS® System specializes in providing “real-time” voice of the customer research for financial institutions.