National Westminster Bank, commonly known as NatWest, is a large retail and commercial bank in the United Kingdom. It was established in 1968 by the merger of National Provincial Bank. Since 2000 it has been part of the Royal Bank of Scotland Group.
Traditionally considered one of the Big Four clearing banks, it has a large network of over 960 branches and 3,400 cash machines across Great Britain and offers 24-hour Actionline telephone and online banking services. Today it has more than 7.5 million personal customers and 850,000 small business accounts. In Ireland it operates through its Ulster Bank subsidiary.
|Key people||Sir Howard Davies, Chairman Ross McEwan, Chief Executive|
|Headquarters||135 Bishopsgate, London EC2M 3UR|
|Parent||Royal Bank of Scotland Group|
|Founded||1968; 49 years ago (1968)|
|Products||Banking and Insurance|
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Financial Services / Banking is 18.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If NatWest Personal Banking sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of NatWest Personal Banking with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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