The Top Pain Points for Consumers, Including in Financial Services? Here’s What Forrester Research Found

CAMBRIDGE, Mass.–What are the top pain points in customer service?

A new survey of 5,000 consumers conducted by Forrester Research offers some answers, including about financial institutions specifically.

The survey found the biggest pain points across all industries include:

  • 41%: Different customer service agents give different answers
  • 34%: Customer service agents don’t know the answer
  • 31%: Can’t find answer on website
  • 17%: Other factors

Among the other findings:

  • Consistency of answers: Worst: Government (56%). Best: Online retail (33%)
  • Agents not knowing the answer: Worst: Offline retail and technology (47%). Best:  Property, casualty and life insurance (25%)
  • Findability of answers on website: Worst: Online retail (40%). Best: Technology (27%)
  • Younger consumers less forgiving of agents that are not knowledgeable. Forty percent for Gen Y did not find agents to be knowledgeable vs. only 23% for seniors. Just 9% of Gen Y consumers found non-knowledge issues as the main roadblock to service vs. 35% of seniors

Survey findings related to pain points and banking are below.

 

Survey findings across generations are below.

 

Full survey findings can be found here.

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