Response Time is a Persistent Customer Pain Point. The Solution is on Your Desk

Executive Summary

• More than half of customers say that their bank is too slow to respond when they need help. These are the moments that matter most to consumers, and they’re often instances when loyalty is won or lost.
• According to Rivel Banking Research, 46% of customers choose to call their bank first when they have a real problem, much more than email, chat or even branch visits.
• Yet the phone continues to be underleveraged as a tool for customer service and brand reputation.

In an era where banks are investing millions into chatbots, self-service portals and AI-driven personalization, it’s easy to assume that digital convenience is the key to customer loyalty. But new findings from Rivel Banking Research suggest a more complex reality and one that bank marketers can’t afford to ignore.

At a high level, the numbers look promising. A full 85% of Americans say they’re satisfied with their bank, and 94% rate their customer service positively. While it’s true that the industry seems like it’s delivering, when researchers dug deeper into actual service interactions, they uncovered a persistent pain point — response times.

More than half of customers — 58% — share their bank is too slow to respond when they need help. That’s not just a minor inconvenience. It’s a moment of vulnerability, where frustration can quickly erode trust. These are the moments that matter most to consumers who are not interacting with their bank on a regular basis, and they’re often instances when loyalty is won or lost.

For marketers, this presents a unique opportunity. Customer service isn’t just a support function, it’s brand experience and, frankly, one that carries substantial weight. Every interaction, especially those that happen under pressure, shapes how customers feel about your institution. And while advertising may build awareness, it’s the quality of service that builds lasting relationships, ensuring positive word-of-mouth.

Why the Phone Still Rules

In a world of digital-first solutions, it’s easy to assume that customers prefer chatbots, email or self-service portals when they need help. But when the stakes are high, like fraud alerts, declined cards or a missing payment, nearly half of customers still reach for the phone first.

According to Rivel Banking Research, 46% of customers choose to call their bank first when they have a real problem, far ahead of email, chat or even branch visits. It’s not just about convenience for most consumers, it’s about reassurance. In moments of stress, people want to hear a voice, feel understood and know that someone is taking ownership of their issue.

Here’s the complete ranking of how customers prefer to get help when they have a problem and need a quick solution according to Rivel’s recent exclusive research for The Financial Brand:

1. Phone calls
2. Branch visits
3. Email
4. Chat
5. FAQ sections
6. Google searches

The Service Reputation Game-Changer

While many institutions are racing to optimize their digital channels, they may be neglecting the very touchpoint that drives the most meaningful brand impressions. This is where brand marketing comes in. Service quality isn’t just a back-office metric and can be a front-line differentiator.

In fact, 86% of potential customers, according to Rivel, say excellent customer service is a must-have when choosing a financial institution, second only to trustworthiness. Before they compare rates or product features, they’re evaluating how your institution treats people when things go wrong.

Yet too often, customer service is treated as a cost center rather than a brand asset. Imagine this — a customer calls your competitor at 7 PM about a declined debit card. They’re transferred three times, wait on hold and finally reach someone who can’t resolve the issue. That frustrating experience doesn’t just damage loyalty, it creates an opening for you. If your institution can deliver fast, empathetic and effective service in that moment, you’ve done more than solve a problem — you’ve earned trust.

For institutions looking to stand out, this is the untapped opportunity. The phone isn’t outdated, it’s underleveraged as a tool for customer service and ultimately your reputation. In a landscape where differentiation is hard to come by, responsiveness is your most human — and most powerful — advantage.

Smart Banks Are Blending Human Touch with Technology

The leading institutions aren’t going all-digital or staying stuck in the past using old tools, they’re relying on new technology to make their human interactions even better.

• Let AI handle the routine stuff: Use automation for routine tasks such as balance checks and password resets. This frees your human staff to handle complex situations that require empathy and real problem-solving. It’s not about replacing people — it’s about freeing them to do what they do best.
• Make it personal: Customers expect interactions tailored to their specific needs. Banks using smart personalization, see click-through rates jump by 500% because they’re presenting the right solution at exactly the right moment.
• Human-empowered model: Many leading banks are shifting focus from customer-facing chatbots to internal AI tools that support their employees. By using generative AI to summarize documents or surface relevant insights, staff can respond faster and more effectively to client needs. For marketers, it’s a reminder that great customer experiences often start behind the scenes and need to be shared to be understood.

This type of shift is already happening. Oswego County FCU, a credit union in upstate New York, is proving how AI can elevate the member experience without losing the human touch. As CEO Bill Carhart explains:

“The credit union launched an AI driven phone system in February of this year. To date we have handled over 55,000 calls with a fully automated call rate ramping up to about 25% of all calls handled by AVA, our system attendant. Even more valuable is that over 4,800 calls have been handled after hours creating a true 24/7 experience for our members.”