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|Washington Mutual Earns Satmetrix Best Customer Satisfaction Award; Survey Shows Even Large Institutions Can Be Friendly and Personable|
MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--May 9, 2001--Satmetrix Systems, the leading provider of Customer Experience Management (CEM) products and services, today announced that it has named Washington Mutual, Inc. (NYSE: WM) the winner of the Satmetrix Best Customer Satisfaction Award for the financial services category.
Results of an independent opt-in survey of businesses and consumers, using the Satmetrix Powered platform, rated Washington Mutual as best in the financial services category. The company received a Customer Loyalty Index (CLI) score of 8.09, compared with the industry average of 7.43. Washington Mutual distinguished itself further by being one of only a few national banks to score higher than its regional competitors.
"At Washington Mutual, we've worked very hard to provide warm, personalized service for our customers. In fact, for most of our employees, compensation is based in part on the level of service they provide to their internal and external customers. Although there's always room for improvement, we're pleased our customers appreciate the service we provide them -- as this award shows," said Gail Shelly, senior vice president, Quality Service Management, Washington Mutual. Shelly noted that Washington Mutual uses comprehensive feedback systems and a number of incentive programs to assess and reward high levels of customer satisfaction.
Since November of 2000, Satmetrix Systems has been conducting a rolling opt-in study contacting 140,000 potential respondents. Conducting the survey both over the telephone and via the Web, Satmetrix Systems received more than 26,000 responses. Respondents were given a choice of seven industries whose products and services they were likely to buy or use in both business and personal life, and asked to identify and rate companies with whom they had interacted. In addition to the financial services category, other industries included communications, energy, healthcare, high technology, insurance and the Internet.
To be considered for the Satmetrix Best Customer Satisfaction award within one of the seven industries, companies had to meet certain criteria such as a minimum number of responses, a top score higher than eight out of ten on the Satmetrix Systems' Customer Loyalty Index, and a score significantly higher than the next competitor. The Satmetrix Best Customer Satisfaction award recognizing Washington Mutual is the second to be issued as part of an ongoing initiative that will recognize selected industries each quarter.
"Washington Mutual is proof that a large organization can create a community and maintain a personal connection with its customers," said Andre O. Schwager, CEO and president, Satmetrix Systems. "This is a clear example of how financial institutions can succeed through a strategy focused on achieving the highest levels of customer satisfaction. Based on our study, companies with top customer satisfaction scores have a P/E ratio that is 9% higher on average, or $930 million in additional market valuation, than the companies with low scores."
About Washington Mutual
With a history dating back to 1889, Washington Mutual is a national financial services company that provides a diversified line of products and services to consumers and small- to mid-sized businesses. At March 31, 2001, Washington Mutual and its subsidiaries had consolidated assets of $219.93 billion. Washington Mutual currently operates more than 2,300 consumer banking, mortgage lending, commercial banking, consumer finance and financial services offices throughout the nation. Washington Mutual's press releases are available at www.wamu.com.
About Satmetrix Systems
Satmetrix Systems is the leading provider of real-time Customer Experience Management (CEM) solutions that enables companies to dramatically increase business success through better and more profitable customer understanding and response. Satmetrix Systems, a hosted technology platform that integrates with Customer Relationship Management (CRM) modules, helps organizations anticipate customer needs and create experiences that build loyalty over time. Satmetrix products are used by leading companies around the world, including Cable & Wireless, Hewlett-Packard, Honda, Lucent Technologies, Network Associates and Siebel Systems. Satmetrix is headquartered in Mountain View, Calif. For more information, contact Satmetrix Systems at 888/888-2314 or 650/314-2300, via email at firstname.lastname@example.org or the World Wide Web at http://www.satmetrix.com.
Note to Editors: Satmetrix Systems, the Satmetrix logo, Satmetrix Powered, and the Satmetrix Best Customer Satisfaction award are trademarks of Satmetrix Systems, Inc. All other products are trademarks of their respective companies.