Banking since 1690, but can Barclay’s still make improvements?
Barclay’s is one of the biggest banks in the world. The British multinational investment bank and financial services company has its headquarters in London. The bank was founded back in 1690 and last year they had a revenue of £21,136 billion.
We wanted to see what we could learn about the experiences of the customers of one of biggest banks in the world. We took 1643 reviews about Barclays posted on Trustpilot, and ran them through Gavagai Explorer. Some things we learned were really interesting!
Here are 4 things we found out!
The accessibility has a negative impact on the grade. It has an average grade of 1,11 while the overall average rating is 1,41. The word access is commonly used together with the word account.
The stand out positive is the Barclays app. The average grade for the app is 2,12 while the overall average grade is 1,41. The app is clearly the thing that the customers write the most positive comments about.
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The staff is the most commented topic, mentioned in 48% of the reviews. The staff is a negative driver and the most commonly used emotive words to describe the staff are rude, appalling and shocking. The net sentiment has gone down since 2012 but remained about the same since 2014.
Waiting seems to be driving the grades down. The average grade for waiting is 1,11 while the overall average grade is 1,41. The waiting topic is often linked with calls.
What can Barclays learn from this?
The average grade of 2,12 for the app might not seem great but the reviews often touches many different subjects and what we can tell is that reviews that mention the app are generally a lot more positive than others. The app is appreciated and according to this data it’s the biggest positive driver. The accounts are mentioned a lot in a quite negative way. It’s mainly the access to the accounts that seems to be an issue.
Apart from the accounts and waiting times the most important focus point for change should be the staff. Statistics tells us that customers have been more satisfied with the staff in the past and it should be possible to make improvements.
Want to try this kind of analysis on your own data?
Gavagai Explorer is free to try (no credit card needed) and works in 46 languages.
Gavagai is a Swedish language-tech company using advanced AI to help businesses analyze text and feedback – so they can understand their customers better. Spun off from the Swedish Institute of Computer Science, our Word Space Technology has grown and improved over 20 years, and our research team has published more than 400 academic papers.