Capgemini: 74% of Cardholders Dissatisfied with Retail Banks
Paris, France, 11th March 2025 – The most troubling finding is one concerning loyalty – Capgemini Research Institute revealed that only 26% of customers are satisfied with their card experiences.
The World Retail Banking Report 2025 adds that an outrageous 74% of customers are indifferent to or dissatisfied with their banking experience and are open to changing banks.
According to the study, customer dissatisfaction is driven by poor onboarding processes. Almost half (47%) of potential customers leave their applications for a card during the application procedures because the processes are deemed too long or too slow.
This is a huge problem for banks that need new customers because negative onboarding experiences result in lost profits and revenue retention.
A growing number of banking executives are exploring the urgency of the problem. The report says,
“In the upcoming 12 months, 86% of banking executives expect to implement omnichannel engagements strategies to increase the level of interaction and trust with customers.”
These strategies work towards creating a balance between the digital and physical world by making banking simpler and more user friendly.
“Banks that do not update their card services along with the customer experience will continue losing the market.”
Conversation with one of the participants of the event s aid Nilesh Vaidya, Global Head of Retail Banking and Wealth of Capgemini.
“The sector needs to focus more on digitizing to keep and attract new clients.”
As competitors in fintech provide new and enhanced services through online portals, conventional banks are under growing pressure to improve their card management capabilities.
The report underscores that improving personalization, lowering friction in customer acquisition processes, and applying AI to offer meaningful actionable insights are critical processes to gain relevancy in an ever-changing market.
As banks hastily overhaul their systems, the response to this challenge over the next few months will indicate whether or not these ever-loyal customers could be reacquired or if the banks would be confronting a case of further escalation to existing customer attrition.
Read Latest Stories:
Synopsys Virtualizer Native Execution on Arm Speeds Software Development
Sonar Acquires AutoCodeRover For AI-Powered Software Development
