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May 24, 2016
JACKSONVILLE, Fla., May 24, 2016 – Today, FIS™ (NYSE: FIS), a global leader in financial services technology, is releasing its 2016 Performance Against Customer Expectations (PACE) Index, an in-depth, global research study on consumer expectations of financial institution performance. It surveyed more than 10,000 banked consumers in 10 countries, including Australia, Brazil, Canada, Germany, India, Philippines, Poland, Switzerland, the United Kingdom, and the United States.
Germany and the United States received the top two PACE Index scores. Brazil made strong gains; while the United Kingdom showed a three point drop from the global average compared to last year’s results.
“This year’s PACE Index shows that consumers worldwide generally turn to their primary financial institutions first, but those institutions must be prepared to serve their needs immediately,” said Anthony Jabbour, chief operating officer, Banking & Payments, FIS. “That’s particularly true of millennials, who stood out in this survey for how deeply they expect their banking services to mesh with their daily lives. The survey shows that, if a financial institution wants to be a customer’s bank for life, it must first become that customer’s bank for living – meeting all the needs a customer may have in his or her daily life, so that customer thinks of the bank first, always.”
“Two-thirds of PACE respondents who own a smartphone or tablet said they have a positive relationship with at least one personal financial control tool. And those numbers are even higher among millennials and consumers in developing countries, where financial infrastructure may be lacking,” said Bob Meara, senior analyst, Celent.
“The PACE Index provides key insights into what consumers think about banking. However, it also helps institutions map this feedback to how they run their operations, connect with their customers to grow the relationship – and ultimately – the institution,” said Jabbour. “Institutions can’t grow sustainably until they can run their operations predictably and connect consistently with customers.”
The PACE Index’s research method was comprised of 1,000 individual customer surveys in each focus country. Surveys were conducted online, with individuals aged 18-75 who have a checking or equivalent account with a financial institution, and who have financial decision-making authority within their household. Questions were designed to minimize cross-cultural biases, where feasible; for scalar questions, normalization procedures were used in the analysis to mitigate bias. Surveys also were targeted to meet age and gender demographics for each country.
The global and ten country reports, supported by country-specific infographics, can be downloaded from http://closethegaps.fisglobal.com.
FIS is a global leader in financial services technology, with a focus on retail and institutional banking, payments, asset and wealth management, risk and compliance, consulting, and outsourcing solutions. Through the depth and breadth of our solutions portfolio, global capabilities and domain expertise, FIS serves more than 20,000 clients in over 130 countries. Headquartered in Jacksonville, Fla., FIS employs more than 55,000 people worldwide and holds leadership positions in payment processing, financial software and banking solutions. Providing software, services and outsourcing of the technology that empowers the financial world, FIS is a Fortune 500 company and is a member of Standard & Poor’s 500® Index. For more information about FIS, visit www.fisglobal.com.
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Kim Snider, +1 904.438.6278 Senior Vice President FIS Global Marketing and Communications firstname.lastname@example.org
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