World‘s Best Banks 2022
World`s Best Banks 2022
Methodology
Methodology ? World`s Best Banks 2022
Forbes' definitive ranking by country
? For the fourth time, Forbes, in collaboration with market research partner, Statista recognizes the World's Best Banks according to consumer feedback.
? The best banks in every country are chosen based on an independent survey from a sample of more than 45,000 consumers representing 27 different countries.
? All financial institutions (e.g., brick-and-mortar-banks, online-only banks) offering a checking and/or savings account were considered in the study.(1)
? Survey participants were asked to name all banks where they have or previously had a checking or savings account. The participants rated the bank regarding various evaluation criteria (e.g., Trust, Terms & Conditions). For each criterion, a detailed list of questions was asked.
? In every country the banks with the highest score have been awarded. The length of the top lists in every country varies between 5 and 75 (depending on the number of evaluations collected, the number of active banks in the specific country and the score achieved).
? The survey took an average of 11 minutes to complete, and the field period ran from CW 45 to CW 49 2021.
2 (1) Consumer-owned banks (e.g., mutuals, cooperatives, credit unions) have also been considered in this study. However, credit unions in the US have been excluded, because they do not classify as a "bank".
Number of Banks Awarded per Country
75
45
35
25
20
20
20
United States
15
Brazil
10
Japan
15
Canada Canada
10
Germany
15
China
10
India
15
Australia
15
Indonesia
15
France
10
Switzerland
10
United Kingdom
10
Italy
10
Austria
5
Belgium
Poland
5
South Korea
5
Spain
5
Taiwan
5
United Arab Emirates
5
Israel
5
Mexico
3
Netherlands
New Zealand
Saudi Arabia
Singapore
South Africa
The study is based on interviews of over 45,000 customers
Consumer Survey
The survey was conducted using an online access panel, providing a sample of more than 45,000 bank customers. The sample size in each country varied according to the respective population. Customers from all age groups as well as from different regions were included(1).
Online access panel
An online access panel is a sample group set up by a survey company
and available for custom-built surveys. People register and agree
to take part in online surveys.
~45,000 participants:
with a checking or saving account at a bank
4 (1) In the US we were also able to include the ratings from the Best-In-State Banks survey (25.000 interviews).
Survey
same survey for all countries in 14 different languages
Scores determined by evaluation of different criteria
Survey
? Participants had to rate every bank at which they have/had a checking or savings account on overall recommendation and satisfaction
WORLD'S BEST BANK
? In addition, participants rated the banks on five different criteria: Trust, Terms & Conditions, Customer Services, Digital Services and Financial Advice
? For each criteria, a detailed list of questions was asked (examples listed on next page)
30%
RECOMMEN - D AT I O N
30%
GENERAL S AT I S -
FACTION
? The importance of the five criteria was analyzed separately across the 28 countries and the results were used to weight the criteria accordingly. The weighting corresponded to the importance given in each country. You can find the average weighting of each criteria on the right
40% CRITERIA 26% 20% 20% 19% 15%
? Reputation is typically built and established over years, and it is the aim of this list to reflect that longevity. Therefore, last year's results were also considered, but were attributed a lower weight in the evaluation process
? The score was calculated as follows: 30% x score recommendation + 30% x score general satisfaction + 40% x score criteria
? In theory, the score varies between 0 and 100. However, the highest score achieved in this study was 88.25
FINANCIAL ADVICE
CUSTOMER SERVICES
DIGITAL SERVICES
TERMS & CONDITIONS
TRUST
5
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