Case Study: SQS

SQS is the world’s leading specialist in software quality. Its consultants identify and mitigate business risk across multiple industries by combining proven methodologies, industrial automation solutions, global delivery and deep domain knowledge.

Today, technology-led initiatives are increasingly becoming a key differentiator among banks. As the digital banking ecosystem continues to evolve, the need for digital quality assurance becomes a top priority to maintain customer trust and limit any potential reputational damage.

To coincide with the launch of the Open Banking initiative, SQS recognised that business agility, speed to market and customer experience would be key for all banking providers. It knew that gaining a customer’s trust in technology would be imperative to ensuring their long-term loyalty.

Arlington developed a piece of research to look at customer loyalty within banking and conducted over 2,000 interviews with respondents who had at least one personal current account. Whilst we found that 85% trust their banks with their personal information, it was discovered that they would quickly look for another provider if something was to go wrong. Almost two thirds (62%) said that if their bank suffered a data breach their trust would be broken, with a further half (55%) considering becoming a victim of fraud grounds for loss of trust.

The research formed the basis of a PR campaign that generated coverage in a raft of publications such as The Daily Telegraph, Information Age and Global Banking and Finance Review.

Key takeaways:

  • Consumer PR survey
  • We found that 85% trust their banks with their personal information, but they would quickly look for another provider if something was to go wrong
  • Almost two thirds (62%) said that if their bank suffered a data breach their trust would be broken
  • A further half (55%) considered becoming a victim of fraud grounds for loss of trust

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