Research based “Distinguished Provider” category launched
Pennington, NJ, March 2013 – FImetrix, LLC, a leading market research firm for Financial Institutions, today announced the launch of a new “Distinguished Provider” category to recognize leading performers and enable clients to better position themselves in the complex Global Transaction Services landscape.
The new recognition category was created from interviews with Senior Level Executives at 647 banks in 97 countries across 6 regions –Asia/Pacific Rim, Central & Eastern Europe, Latin America, Middle East, Sub-Saharan Africa, and Western Europe/North America. The banks included in the survey represent the largest banks within their respective country, and they maintain significant cross-border cash and trade activity.
“Our clients use our research to assist them in building international cash management, payment, clearing and trade banking strategies across a variety of products and multiple markets”, states FImetrix CEO, David Burnett. “Creating the Distinguished Provider category was a natural extension of our expertise in research, statistical analysis and clear and accurate reporting”, continues Mr. Burnett. “As banks build their global marketing strategies, they need consistent, reliable, comparable market research information across borders and over time. Our new Distinguished Provider category combines dependable information and thorough analysis in an understandable, usable format. We feel that our Distinguished Provider category is in direct alignment with our mission”, concludes Mr. Burnett.
About the new “Distinguished Provider” category
Respondents to the FImetrix survey evaluated the relationships that they maintain with U.S. and Western European banks in support of their international cash and trade transaction service needs. Currencies evaluated in the interview were U.S. Dollar, Euro, and Pound Sterling. Respondents rated their leading providers on 22 attributes related to operational efficiency, customer service, technology, product range, and the skill set of their people.
Within each of the 6 regions, the leading attributes that have the greatest influence on predicting overall satisfaction were identified. Based on this analysis, each provider was scored on their ability to deliver a high degree of customer satisfaction to the banks within the region. A consolidated Global Satisfaction Score was produced by taking each provider’s regional customer satisfaction score weighted to reflect the given region’s contribution to World GDP (GDP statistics are based upon figures published by the World Bank).
Providers who are active in regions that cumulatively account for more than half of the total World GDP were eligible for consideration. Any provider whose Global Satisfaction Score exceeded the average is bestowed the designation of “Distinguished Provider”, indicating that they have gone above and beyond the market standard in delivering services to their customers. 2013 designees for USD/EUR transaction services include: BNY Mellon, Citi, Commerzbank, Deutsche Bank, J. P. Morgan, Société Générale, Standard Chartered and Wells Fargo. Designees providing GBP services include: Barclays, HSBC and RBS.