A zero-response rate to user feedback for the LuxTrust banking app revealed critical pitfalls in building customer loyalty, despite improvements in usability, according to a recent report by 3nity Global, a Luxembourg-based consultancy firm. The study, which examined three digital banking apps from Belgium, one from Luxembourg and five from France, focused on key aspects such as customer engagement, responsiveness and user satisfaction. It also assessed how financial institutions are leveraging artificial intelligence to improve customer experiences, identifying both standout performers and areas in need of significant improvement.

High performers

According to 3nity, Credit Agricole’s ‘Ma Banque’ app in France led the region with 83% positive reviews, the highest score recorded in the study. This strong performance was complemented by an average response time of 0.4 days, demonstrating the critical role of swift engagement in maintaining customer satisfaction. However, even among high performers, shortcomings were evident. The Ma Banque app’s non-response rate of 43% highlighted missed opportunities to address customer concerns fully, noted 3nity Global.

In Belgium, Argenta Banque emerged as a strong performer with a 76% positive review rate and a remarkably low non-response rate of 3%, setting a standard for proactive customer feedback management. Similarly, the KBC app achieved a positive review rate of 60%, with an average response time of 2.6 days. Although the KBC app’s non-response rate of 17% was higher than Argenta’s, its steady performance underscored the value of a customer-centric approach, the report said. 

In Luxembourg, the LuxTrust digital banking app demonstrated inconsistent performance. The LuxTrust app managed a 53% positive review rate, reflecting efforts to improve functionality. However, the app failed to engage with user feedback, as evidenced by a 100% non-response rate. This lack of interaction was seen as a critical barrier to fostering trust and loyalty among users, noted the report.

In France, the study found significant disparities in performance. Several apps recorded no positive reviews and were marked by 100% negative feedback. Response times for these underperforming apps ranged between 4.1 and 6.0 days, with non-response rates exceeding 50%. The Banxo app, in particular, demonstrated a 77% non-response rate, underscoring the consequences of neglecting user engagement.

Belgium also had instances of underperformance. The Crelan app faced major issues, recording no positive reviews and a 100% negative feedback rate. Although its response time averaged 4.3 days and its non-response rate was 40%, the complete absence of positive feedback indicated substantial gaps in usability and engagement.

LuxTrust

A representative of LuxTrust told Paperjam that “It is quite difficult for us to give any perspective on a survey in which we were not involved, nor were we provided with a detailed explanation of the methodology.” They added that “LuxTrust Mobile is not at all a banking app.” However, acknowledging the context of e-banking and the survey’s focus on general user experience, the representative stated that “We can say that we don’t understand the results.”

The representative further argued that “Considering that the majority of banking transactions and e-payments are performed via LuxTrust Mobile, the best public tool and indicator remains the users’ app rating on the App Store.” Highlighting its popularity, they pointed out that “With over 10,000 reviews on the App Store and a rating of 4.8, this figure is quite credible and impossible to falsify.” They also emphasised that with a user base exceeding one million, a sample size of just 30 respondents isn’t fully representative of LuxTrust’s overall user experience.

Nonetheless, “It is obvious that in an increasingly connected world, we need to keep improving our solutions,” the representative concluded.