Forrester has unveiled its first Total Experience Score rankings for Singapore’s financial services sector, highlighting a significant gap between brand promises and customer experiences. The 2025 report shows that whilst Citibank, HSBC, and Raffles Health Insurance excel in their respective sectors, most firms struggle to deliver consistent experiences that foster trust and loyalty.
The Total Experience Score, a composite measure derived from Forrester’s Brand Experience Index and Customer Experience Index, evaluates perceptions formed by both customers and noncustomers through their interactions with a brand. This score is unique in its ability to assess brand impact across the entire customer lifecycle, providing insights for customer experience, marketing, and digital business leaders to pinpoint key drivers of brand and customer experience, trust levers, and influential emotions.
Forrester’s findings indicate that only a few financial services firms in Singapore manage to align their brand promises with the experiences they deliver. This misalignment poses challenges in building long-term customer loyalty. The report underscores the importance of understanding the emotional factors that affect a brand’s ability to attract, retain, and serve customers effectively.
As the financial services landscape in Singapore evolves, firms are urged to focus on bridging the gap between their brand promises and the actual customer experience to maintain competitiveness and foster enduring customer relationships
