The Confidence Equation: Delivering Exceptional Customer Experiences

Theepah Tharmalingam, Mark Richards, Vikas Mukhi, Mostafa Omran, Hannah Lobbezoo & Brian Lian
22 July 2025

In today's competitive banking environment, customer experience is not just a differentiator, it is essential. Yet across Canada, customer sentiment toward financial institutions has been in steady decline. As digital expectations rise and service issues remain unresolved, customers are increasingly questioning the value they receive.

In the third and final report in The Confidence Equation series, we examine the critical need for Canadian banks to reimagine the customer experience. It explores the root causes of customer dissatisfaction, including poor service resolution, inconsistent service across channels, and a lack of perceived value.

Despite high overall satisfaction with day-to-day banking, only half of Canadians feel valued by their financial institution, and Net Promoter Scores for the Big 5 have dropped to just 3.3 in 2024. The message is clear: customer expectations are rising, and many institutions are struggling to keep pace.

As loyalty becomes more fragile, now is the time to act. Download the report to learn how financial institutions can close the experience gap, deepen customer relationships, and deliver service that meets the moment.