As well as the Call Centre Ranking results below, ACXPA Members also have access to a range of additional insights, including all the monthly reports, trend data, additional performance metrics, a downloadable spreadsheet and lots more!
Australian Banks October 2023 Call Centre Rankings
This is our third consecutive month of assessing the Call Centre performance of the Australian Banking Sector, where we conduct mystery shopping calls to a minimum of six different Banks across Australia.
You can read more about the assessment criteria and methodology here, but the quick version is we make random mystery shopping calls posing as real customers and assess both accessibility (how easy it was to connect) and the customer service/quality of the interaction when speaking to a live agent across 48 different performance metrics.
Just scroll below for additional insights or use the links below to jump directly to a section.
Call Centre Rankings Key:
POOR
BELOW STANDARD
MEETS STANDARDS
EXCEEDS STANDARD
OUTSTANDING
Banks Overall Rankings (October 2023)
The Overall Score Rankings provide insights into the Contact Centres we assessed as being the best in their sector.
Each of the mystery shopping calls we make is assessed against 48 different criteria and the calls are made by our local (Australian-based) trained assessors at random times and days throughout the month.
The Overall Score is determined by combining the two primary component scores below and applying some proprietary weightings that place a higher emphasis on the quality of the interaction:
- Accessibility Score – measures the experience of connecting to a live contact centre agent.
- Quality Score – measures the experience of the interaction with a contact centre agent.
Key Findings – Overall Scores, Banks (October 2023)
Following the August and September results, the Banks were assessed as ‘Poor’ for the third consecutive month in October 2023 with an overall score of 41.8% and the lowest-ranked industry sector in Australia.
- Accessibility across the sector was rated as ‘Poor’ with a score of 42.0% ranging from 11.2% (Bendigo Bank) to 62.1% (NAB).
- Quality continues to be low across the sector (assessed as Below Standard) with a score of 58.4%.
- Banks continue to lose a substantial amount of opportunities, failing to answer 39% of the calls we made in October 2023 within 10 minutes. Both ANZ and Bendigo Bank only answered 33% of the calls we made.
- Average wait times across all Banks were again the worst of all industry sectors we assessed, with an average wait time of 04:18 minutes.
- Westpac had the lowest average wait times for the month of October (00:59 minutes), with ANZ the longest (09:24 minutes). Whilst we disconnected after a 10:00 minute wait time, some banks were advised of delays in excess of 50 minutes, which is quite extraordinary given the scenarios we used were new business opportunities.
- Of the five Quality Competencies we assess using the Australian Contact Centre Quality Standards, ‘Educate’ was the lowest rating (49.3%), with ‘Energy’ the highest at 76.4%.
- The top-ranked bank for Quality was ANZ (83.8%), which was the highest quality score for all contact centres in Australia.
- All Banks had a minimum of three IVR layers, adding, on average, an additional 00:45 minutes to every call.
- Pre and Post IVR Messaging (i.e. recorded announcements) added an additional 00:51 minutes to each call, with CBA having the longest at 01:13 minutes.
- Talk time averaged 06:19 across all providers, ranging from 04:06 minutes to 10:52 minutes.
Banks Accessibility Rankings (October 2023)
The Call Centre Accessibility Rankings are designed to assess the ease of the phone experience for customers who want to speak to a live person to discuss their banking requirements.
The Accessibility Score measures the experience before interacting with a live agent with our assessment including 30 individual elements grouped into five core components: Search, Design, Ease, Audio and Timing (along with deductions for calls not being answered within thresholds, technical glitches, etc).
Elements including queue wait times, how easy it was to find the phone number, ease of menu options (i.e. press 1 for this, 2 for that), hold music, audio quality, etc.
Key Findings – Accessibility Scores, Banks (October 2023)
Overall, the Accessibility of Banks was rated as ‘Poor’ with a score of 42.0%, a slight improvement on the September 2023 results with a 0.4% increase.
This was again the lowest result of all industry sectors; the next lowest was the Car Insurance sector at 61.6%.
- Only one bank (NAB) was assessed as ‘Met Standards’ for Accessibility with a score of 62.1%.
- The lowest ranked bank for Accessibility in October 2023 was ANZ with a score of 20.4% and they have also been the lowest ranked bank for the previous quarter.
- Banks failed to answer 39% of the mystery shopping calls we made, with ANZ and Bendigo Bank failing to answer 66% of the calls we made within 10 minutes.
- Bendigo Bank was advising of delays in excess of 50 minutes, which we have consistently observed over the past quarter.
- The average wait time to connect to a bank for a new business-related enquiry was 04:18 minutes (an increase of 00:16 minutes from the previous month), with Westpac achieving the quickest average wait time for the first time with a 00:59 minute average wait.
- On average, an additional 00:45 minutes was required to navigate the IVR menus with CBA’s taking the longest at 01:13 minutes.
- In addition to the time navigating the menu and waiting for the call to be answered, banks also add substantial time to each call with pre- recorded messaging adding an additional 00:51 minutes to each call, with CBA the longest with 01:13 minutes.
- Talk time across all Banks averaged 06:19 minutes, a substantial increase from the previous month (+01:46 minutes)
Banks Quality Rankings (October 2023)
Whilst average wait times can be longer than other industry sectors, its still what happens during the call that can have a large influence on the satisfaction of the customer.
And whilst there appears to be a push by some banks to try and move people away from the phone channel, a number of recent studies have shown that over 70% of consumers surveyed said that speaking to a real person instead of a chatbot is highly important, so when it comes to trying to secure new business, providing customers with a seamless experience on their preferred channel should be high on the priority list!
The Quality Insights Score (QIS) measures the experience received during the interaction with the live contact centre agent across five core competencies (Engage, Discover, Educate, Close and Energy) and 18 individual behaviours as defined in the Australian Contact Centre Quality Standards.
Key Findings – Quality Scores, Banks (October 2023)
When assessed against the Australian Contact Centre Quality Standards, the banking sector was assessed as ‘Below Standard’ for Quality with score of 58.4%, down from 62.5% in September 2023.
- The top-ranked bank for Quality in October 2023 was ANZ, with a score of 83.8% that was not only the best of all banks, it was the best quality score of ANY contact centre we assessed in October.
- The most improved from the previous month was Westpac, with an increase of 37.5% (25.0% to 62.5%).
- The largest decrease from the previous month was Bendigo Bank, with a decrease of 40.4% (72.1% down to 31.7%).
- Of the five quality competencies we assess, the banks were rated ‘Below Standard for ‘Engage’, ‘Discover’ and ‘Educate’.
- Using a customer’s name appropriately is one of the poorest-rated elements of the Engage Competency, with an average score across all providers of 41.7%, with 50% of the Banks scoring 0%.
- Training is available for all Banks to improve their scores (and, more importantly, the customer experience) – we have courses for frontline employees and Team Leaders.
You can see additional information on the quality competency scores below (or just click here to jump to it).
Banks Average Wait Time Rankings (October 2023)
The Average Call Centre Wait Time measures the time to connect to a live call centre employee in Australia after navigating the IVR systems (press 1 for this, press 2 for that) and listening to any pre-recorded messaging.
Most people would refer to this as waiting in a call centre queue (or being stuck on hold), and it’s often the measure that has the highest correlation to customer frustration.
*Mystery Shopping calls to banks are terminated at 10:00 minutes for sales-related mystery shopping calls. As we disconnect at 10:00 minutes, the actual wait times would be higher. In the event of any calls exceeding 10 minutes, the maximum threshold time of 10 minutes is applied to calculate average wait times.
ACXPA Members have access to the number of calls that exceed the 10-minute threshold in the summary download report.
Key Findings – Average Wait Times, Banks (October 2023)
Average Wait Times for Banks increased 00:16 minutes compared to September 2023 results to 04:18 minutes in October 2023, the longest wait times on average of all industry sectors we measure.
- All but one bank experienced an increase in average wait times in October 2023 as compared to September data.
- The largest increase in average wait times was ANZ +02:42 minutes, averaging 09:24 minutes to speak to a live person.
- The biggest decrease compared to September 2023 results was ING Direct (-03:11 minutes).
- The quickest average wait times in October 2023 was Westpac with 00:59 minutes.
- The longest wait time was Bendigo Bank, averaging 09:24 minutes, however, as we disconnect at 10 minutes – there was recording messaging advising of delays in excess of 50 minutes on some calls.
Banks Quality Competencies Summary (October 2023)
The Australian Contact Centre Quality Standards have been developed and refined over 30 years and when businesses consistently achieve high ratings in these core competencies, there is a direct correlation to improved business metrics however you measure them – Sales Conversions, NPS, Customer Effort Score, improved efficiency, reduced AHT etc.
They are applicable to all contact centres and are adapted to suit either customer service or sales calls.
Quality is assessed across five core competencies and 18 call-handling behaviours that directly correlate to better customer and business outcomes: Engage, Discover, Educate, Close, Energy.
Learn more about the Australian Contact Centre Quality Standards >
Download the ACXPA Members Summary Report (Banks October 2023)
The ACXPA Members Summary Report for Banks October 2023 contains additional data exclusive for ACXPA Members, including the results for three random Banks each month.
Companies who purchase the Contact Centre CX Benchmarking service will see the FULL data for ALL Banks we assess.
What type of scenarios do we use to conduct the Mystery Shopping calls?
We use enquiries that are general in nature that don’t require us to disclose personal information such as new customers looking for home loads, term deposits, credit cards etc.
How does the scoring work?
Over the past 30 years we’ve developed standards based on consumer preferences and the metrics that matter – the ones that can influence the customer experience. You can learn more about the framework we use here >
How many calls are assessed?
For the public monthly report, we include at least three calls per Bank – more assessements are conducted if Banks purchased the Contact Centre CX Benchmarking service, (minimum of six calls assessed for every Bank included). Larger sample sizes can also be purchased – please refer to our Customer Service Benchmarking service >
How can we improve our score?
Our Mystery Shopping program has been designed to provide Banks with the insights they need to improve performance! You’ll receive detailed information on your performance against over 48 individual elements so you know exactly where to focus, and we also include a quarterly report that provides you with personalised key recommendations on areas to focus on.
We also offer a range of training courses that can help teach your frontline employees the skills they need to deliver great customer service (Customer Service Phone ‘Essentials‘ & ‘Professional‘), as well as training courses for your Team Leaders/Managers so they know how to coach effectively using the Quality Framework to improve your performance (and scores!).
How do I get my Bank included?
If your Bank is not listed in our reports, by purchasing our Contact Centre CX Benchmarking service, your bank will then be automatically included in the monthly ranking reports. Learn more >
How do I order the service?
We have an online ordering form that makes it easy to order the service, nominate the Banks you’d like to benchmark against, who you’d like the reports to be sent to etc. View the online order form >
How do I access the data for Banks?
ACXPA Business Members get full access to the summary monthly data for Banks (and other sectors) along with a host of other benefits which contains the data for three random Banks each month.
An ACXPA Business Membership starts from just $497 per year and includes five individual memberships you can allocate to key employees who could benefit from gaining access to leading industry insights for contact centres, customer experience (CX), digital service, and in-person customer service.
If you purchase the Contact Centre CX Benchmarking Service, you will gain access to ALL data from ALL Banks.
Is there someone I can speak to to learn more?
Absolutely! If you’d like to speak to someone further about the Benchmarking Service, please get in touch with our General Manager of Quality Insights, Simon Blair – 0407 002 113 or [email protected]
What type of scenarios do we use to conduct the Mystery Shopping calls?
Questions about credit cards, home loans, savings accounts, term deposits etc – most of our scenarios are about new business opportunities for the Banks that don’t require us to disclose personal information.
Do the Banks really care about the service they provide?
We’d really like to say yes as it’s a highly competitive marketplace and research consistently shows that when customers aren’t happy, it’s bad for business.
But sometimes whether it’s through a lack of resources or skills, the customer experience that is delivered is well below expectations.
When banks focus on delivering a better customer experience, not only is it good for you, but it also helps make them more profitable so everyone wins.
How do I get my Bank included?
We encourage you to contact your Bank and ask them to ensure they are included. Just send them a link to this page!
Why does ACXPA publish results each month?
Our mission is to improve the level of customer experience in Australia so by publishing the results monthly, we’ll continue to ensure that Banks are accountable for the level of customer service they are providing.
What type of services does ACXPA offer?
In addition to the Mystery Shopping CX Benchmarking, we offer a range of services and resources for people working in contact centres, customer experience (CX), digital service and in-person customer service/retail. You can learn more about us here >
Purchase exclusive insights for your Bank
If you’d like to gain insights specifically for your contact centre performance, and benchmark your results against other Banks, we’ve got a new, cost-effective, fixed-price benchmarking service that makes it easy!
Starting from just $1,297 per month, by purchasing our Contact Centre CX Benchmarking Service, you’ll receive the following:
- Six Mystery Shopping calls into your call centre each month at random times and days where you’ll receive the full assessment against 48 metrics, our quality assessor’s notes, the employee’s name (where provided) and the full call recordings.
- Six Mystery Shopping calls each into five other Banks (a total of 30 calls) that YOU nominate so you can benchmark your performance against other Banks that matter the most to you.
- Aggregate data from all the other Banks we assess providing you with sector-wide results to further compare your results to.
- A monthly email with data to track your performance along with the call recordings.
- A quarterly report containing insights and trends that are easy to understand, along with actionable recommendations to help improve your performance.
- An optional Quarterly Insights workshop for your team (conducted live via Zoom) that can provide additional insights, coaching and guidance.
- Access to training to help you improve results.
CX Roundtables - Upcoming Guest
Live and interactive sessions for customer experience professionals in Australia.
Contact Centre Manager Roundtables - Upcoming Guest
Live and interactive sessions for contact centre professionals in Australia.
Next Members Symposium Livestream: Tuesday, 21st May, 2024, 13:30 AEST
The Members Symposium sessions are only available to ACXPA Members!
ACXPA Members can watch the symposium live, and, can watch any of the sessions at any time in their Video Library.
Preview of upcoming Symposium Sessions:
IVR Best Practice
Over 90% of contact centres are using an IVR (Press 1 for this, press 2 for that), and we've encountered many contact centres with over four layers of options for customers to select from. In this session, Nadine will be sharing some best practice tips on IVR design for 2024.
Presented by Nadine Power, Chief Product Officer, Datagamz (and ACXPA National Advisory Board Member)
Tips to Boost Engagement on Calls
Of the five quality competencies we assess as part of the Australian Call Centre Rankings, the 'ENGAGE' competency from the Australian Contact Centre Quality Standards has consistently been at the bottom of the rankings throughout 2023 and into 2024.
In this session, Simon will provide some tips that can be shared with agents on how to increase engagement with customers at the start of calls.
Presented by Simon Blair, General Manager Quality Insights, ACXPA
More sessions announced soon!
(If you're interested in speaking at one of our events, click here to learn more >)
