The BENCHMARK’s rating programs are not about simply handing out a rating or a trophy—they are programs designed to act on behalf of the customers to validate what is going behind the scenes of the providers and helping providers do better each year. The process removes the sugar-coating and prettification, and digs deeply into the providers’ operations, values, and practices. The process also holds the companies accountable for their behavior, and by offering them a chance to access the 70-page regional gap analysis report that covers the industry’s market landscape, client demand assessment and their own competency assessment, the companies are able to build on their strength and bridge the gaps of their shortcomings.
The Star Quality Ratings are customers’ guide to finding which banking providers are dependable and safe. All Star Quality Ratings are based on independent and unbiased feedback from customers, advisors, industry experts and social responsibilities.
1. The findings from over 2,000 Voice of the Customers, reflecting the voices of Active Clients, Considering and Non-Considering Clients regarding satisfaction levels, perceptions of the firm, their selection drivers and what drives them away. See the CUSTOMER SURVEY to understand the methodology behind the study.
2. The findings from over 3,000 Voice of Active Bankers will participate in the survey through our Supporting partners’ member base. The study aims to gather insights into the bankers’ sentiments towards the industry, their firm and rivals, and their attitudes towards clients and their firm, what they think are needs to help them succeed, and whether they are being driven away.
3. An independent judging panel comprising over 30 independent consultants and industry veterans across the region with valuable industry insights will contribute to the decision-making process, while making references to our proprietary interactive survey results that allow for a deeper dive into what is on the customers’ minds.
4. An ESG report to be delivered by our partner MSCI, a report will be created for each company for the purpose of understanding the company’s risk management through environmental, social and governance, business involvement, and controversial policies, as well as its social responsibilities. The report will be offered to the judging panel as a reference for decision-making purposes.
All companies serving the Affluent Customer segment are encouraged to participate.
There are Five Star-Quality Ratings:
The highest scoring company of each category will be the award recipient and be awarded Gold Star Quality ranking, and the Best-in-Class title provided the top performing company has reached the minimum criteria that are set above the mean each year.
The Gold Star Rating – The top 5% of the performers in each category will be rated as a company worthy of the five gold stars, and these companies are considered to be amongst the best of breeds.
The Silver Star Rating – The top 6%-15% of the performers in each category will be rated as a company worthy of the four silver stars, and these companies are to be considered as better than most of their peers.