Relationship Net Promoter Score 

A New SME Strategy

c.80 Millions Logins

to Open24 Web and App in 2019

*A customer brand tracking survey carried out in December 2019 indicated a Relationship Net Promoter Score* (RNPS) of +3, placing Permanent TSB in joint first of all retail banks in Ireland, or 5 points ahead of the average of the main retail banks in Ireland.

Evolving Our Culture for Our Customers

Our commitment to being a responsible and sustainable business includes a commitment to transforming our culture for our customers to ensure that we consistently deliver personal customer experiences and fair customer outcomes.

In addition to our own focus on culture improvement, Permanent TSB is also actively involved in improving culture across the banking industry as a member of the Irish Banking Culture Board (IBCB). In 2018, the five Irish Retail Banks came together to establish the Irish Banking Culture Board, aimed at rebuilding confidence in the Irish banking sector.

The IBCB, which operates as an independent body chaired by Mr. Justice John Hedigan, helps to ensure the industry is focused on the right outcomes for our customers and employees, thereby rebuilding a sustainable banking sector. The Board includes representation from all five of the Irish Retail Banks.

In October 2019, the Irish Banking Culture Board announced the Common Commitment of Care to improve the experience of bereaved customers and their families. As one of the five member banks, Permanent TSB worked closely with the IBCB on the initiative, which builds upon the Bank’s existing processes established to support bereaved customers and their families.

Vulnerable Customers 

Permanent TSB is committed to better understanding the needs of our vulnerable customers, ensuring that they are not only considered in the financial products and services we provide, but through every stage of the customer journey. With a focus on continuous improvement, the Bank has processes and procedures in place to support our vulnerable customers and regularly works alongside other groups, including the HSE, who deal with customers who are vulnerable.

In 2019, the Bank reviewed the Vulnerable Customer Policy and developed a set of principles to enable us to further support the needs of our vulnerable customer and provide guidance and support to our colleagues.  Building on the safeguarding training that was delivered to colleagues in 2018, last year our colleagues were provided with additional training to further equip them with the tools they require to better serve our vulnerable customer cohort.

In 2020, we look forward to building on this programme of work, as we focus on delivering fair customer outcomes and removing barriers for our vulnerable customers.

Delivering Fair Customer Outcomes

Delivering the fair customer outcomes is central to what we do and is integral to our focus on improving our culture for our customer.

We are committed to understanding our customers and delivering what matters most to them through every stage of their financial journey.

Permanent TSB has made a number of structural and operational changes to ensure that we are focused on delivering fair customer outcomes, these improvements include:

  • An improved focus on Complaints Management, including implementing a new Complaints Management Framework.
  • An Increased focus on Conduct Risk at all levels across the Bank.
  • The creation of a Product Assurance function to proactively monitor our products.

Providing Valuable Products and Services

Permanent TSB is focused on developing deep banking relationships with customers through: listening to what they have to say; developing products that matter most to them; delivering a great customer service experience; and, providing value for money, whether that be in our network of branches, through our customer service centres or online.

Examples of our commitment to enhancing customer experience include our focus on digital transformation, the continued investment into our Branch Network and our commitment to supporting our SME customers as they work to grow their business.

Evolving Our Digital Service

Customer behaviour is changing and our customers want the ability to interact with us at a time and place that is convenient for them. Permanent TSB has embarked on a four year journey to deliver a Digital Transformation Programme, allowing us to respond to evolving customer behaviour, while ensuring that we remain relevant in the future digital banking market.

Significant progress has been made in enhancing our customers’ digital offering, with the introduction of in app term lending, in app credit card application, the rollout of the online booking system for mortgage advisors, the launch of the online travel note.

These new service offerings allow us to further support our customers, allowing them to bank at a time of their choosing and via a channel that suits them. We look forward to building on this momentum with further rollouts planned.

Investing in Our Branch Network

Following a significant upgrade, we reopened our flagship location on Grafton Street. This became the first branch in our network with enhanced digital capabilities, including: digital marketing screens that reduce our reliance on print marketing; iPads with supporting phone lines into our customer service centre, Open24; and, state of the art, purpose-built customer meeting areas. These upgrades significantly enhance the customer experience in our network, allowing us to serve our customers better through a channel of their choosing, while demonstrating our commitment to finding new and better ways to bank.

The Bank was proud to welcome Barretstown Ambassador Gordon D’Arcy to our newly refurbished Branch on Grafton Street to launch officially the new location and, to announce a new fundraising campaign for our Staff Charity Partners.

Following Grafton Street, we continued the investment in our branch network with the relocation of the Drogheda Branch to the Scotch Hall Shopping Centre and opened our newest location in the Omni Shopping Centre (Santry). We look forward to building on this momentum, with further refurbishments planned.

Supporting Our SME Customers

In September 2019, Permanent TSB was proud to support our SME customers Tom Gannon and Niall McGrath with the launch of their newest business venture, Cali Cali Food.

Backed by Permanent TSB, Cali Cali Foods took over our flagship Grafton Street Branch in Dublin, showcasing their new range of guilt free real food that delivers authentic flavours of California street food with 'Californian' benefits (Vegan, Low Cal, Non-GMO etc).

Supporting Financial Wellbeing

At Permanent TSB, we recognise that we have a responsibility to enable financial wellbeing among our customers, helping them to feel more confident about their financial future.

As part of our partnership with Irish Life, all customers are offered a free financial review, focused on supporting them in making informed decisions about their financial wellbeing. The financial health check is a review with one of the team at Irish Life and can be completed by making an appointment at any of our branch locations nationwide. Last year, more than nearly 12,000 financial reviews were conducted, supporting customers in taking control of their financial future.

Responsible Marketing And Research

All marketing and communications activity in the Bank is guided by regulation, including the Consumer Protection Code 2012, the Advertising Standards Association of Ireland Code 7th Edition and, the values and operating principles set by the Association of Irish Market Research.

*A RNPS is a measure of customer advocacy towards a brand and indicates the willingness of a customer to recommend a company’s products or services to others. The question asks customers how likely they are to recommend their bank to friends or family on the basis of their own experience. The range for the scoring is -100 to+100.

Community Partners

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