Singapore – Despite repeated outage and service disruption experienced by customers of DBS, the Singaporean multinational bank has its brand health register much higher than of rival banks in the region, according to a recent report from YouGov.
Latest data from YouGov BrandIndex shows that Buzz scores for DBS, which measures whether consumers have heard more positive or negative things about a brand in the past two weeks, plunged 18 points after the recent outage, from 23.8 on October 14 to 5.8 by October 16.
However, DBS’ net scores for Impression, which track the general impression consumers have towards a brand; and Satisfaction, which track whether a brand’s customers are mostly satisfied or dissatisfied with it, did not see a drastic slump.
Consumer impression of DBS – which had grown significantly from 36.4 on September 23 to 51.3 on October 14 – saw a clear drop immediately after the recent outage. But by October 23, it returned to largely similar levels as a month ago.
Notably, there was likewise no significant decline in the percentage of consumers who would consider banking with DBS, over the week following the outage. DBS’ Consideration scores (which track the percentage of Singapore residents who would consider engaging the brand when they are next in the market for financial services) dipped just 2.8 points from 40.1 on October 14 to 37.3 by October 23.
Lastly, DBS’ Index score, referring to an overall measure of brand health calculated as an average of Impression, Quality, Value, Reputation, Satisfaction, Recommendation scores) of 35.8 on October 23 remains markedly higher than its major local rivals OCBC (18.5) and UOB (20.1), as well as digital competitor Trust Bank (20.5), which is backed by Singapore’s sole national trade union centre.
