Synergistic CX: Season 3 - Episode 2 (part 1/3) - The Currency of Experience

In Part 1 of the Synergistic CX Podcast dedicated to the banking industry, the CX Channel team is joined by Kerli Zeiger Soosaar, CEO of Dive Group and MSPA Europe/Africa board member, to examine how customer experience is shaped in a highly regulated, trust-dependent service environment. Unlike transactional retail sectors, banking relationships are built on confidence and consistency, where every interaction - from routine transactions to complex financial decisions - directly influences customer trust and long-term loyalty.

The episode is grounded in a data-driven industry study using Aspect-Based Sentiment Analysis (ABSA), analyzing more than 42,000 online reviews across nearly 4,700 banking locations globally. While five-star ratings represent the majority of feedback, a substantial share of one-star reviews highlights persistent experience gaps. This polarization reflects a clear pattern: customers are most compelled to share feedback when trust is either strongly reinforced or noticeably broken, emphasizing the importance of consistent service delivery.

A key focus of the discussion is Critical Review Response Time (CRRT). The findings reveal that nearly two-thirds of one- and two-star reviews remain unanswered globally, exposing a major weakness in service recovery. In an industry where trust is fragile and financial confidence is at stake, a lack of response signals disengagement and undermines reassurance. Kerli Zeiger Soosaar highlights the importance of structured CX measurement and response mechanisms, noting that unresolved feedback represents missed opportunities to restore trust and strengthen customer relationships.

The episode then moves beyond ratings to examine what banking customers actually talk about, using the extended 7Ps marketing mix framework. Customer feedback is heavily concentrated on People, Process, and Place, which together account for the vast majority of conversations. Staff attitude emerges as the single most dominant factor, followed by service efficiency and clarity of procedures. Despite the rise of digital banking, human interaction remains the defining moment of truth - particularly when customers seek reassurance, guidance, or resolution.

The conclusion is clear: banking CX success depends on reinforcing trust through consistent frontline behavior, efficient processes, and proactive engagement with customer feedback. While digital channels shape convenience, it is human interaction, responsiveness, and execution reliability that ultimately determine customer confidence and loyalty.

Watch Part 1 now here, and stay tuned for the next parts of this episode as we explore the banking customer journey and the moments that define trust.