Retail Banking · September 2025

About the CX Benchmark Index (CXBI)

The CXBI is Tortoise & Hare’s proprietary benchmark of how effectively brands meet customer-experience (CX) expectations in market. It analyses large-scale, publicly available, unprompted customer feedback—including reviews, social commentary and media references—to surface real-world CX performance across industries.

How the Index is built (in plain terms)

1. Feedback is collected continuously from multiple public sources.
2. Non-numerical text is cleaned to preserve customer meaning while removing bias from platform ratings.
3. Each mention is classified by sentiment (positive/neutral/negative) and organised under five CX Drivers – Quality, Service, Value, Convenience and Loyalty.
4. To compare brands fairly, results are normalised to a historical baseline (2019–2025) so different sources and industries sit on a common scale around zero (0 = market average).
5. Daily signals are smoothed using Multiple Seasonal-Trend Decomposition (MSTL) to remove weekly and annual cycles and isolate underlying trends.
6. Confidence scores combine four factors — volume, stability, cross-source agreement and trend alignment — to weight each brand’s signal.

Interpreting scores

• A CXBI > 0 = above-market performance; < 0 = below-market.
• Month-on-month and year-on-year changes are directly comparable because they’re calculated against the same standardised baseline.
• Driver percentages show how much each CX Driver is lifting or dragging on the overall index.

Data ethics & coverage

Only content already in the public domain is used. No personal or private information is collected. Internal Voice-of-Customer data may be integrated by participating brands for private dashboards but is not included in public CXBI results.

Limitations & context

• Because CXBI relies on publicly available sources, coverage is strongest for digitally active brands and may under-represent offline experiences.
• Results represent relative performance and trend direction, not absolute CX quality.
• Short-term spikes can reflect campaigns or news cycles; always interpret with driver-level context.

Disclaimer & Use Notice

The CX Benchmark Index (CXBI) and associated content are published by Tortoise & Hare CX Agency for informational purposes only. All data are derived from publicly available sources and aggregated using proprietary methodology. No representation or warranty is made regarding the accuracy, completeness or suitability of the information for any particular purpose.

Scores and insights reflect relative market signals at the time of publication and should not be interpreted as factual statements about any individual brand or as endorsement, criticism, or recommendation.

Re-use, citation or distribution of CXBI data outside these reports requires written permission from Tortoise & Hare CX Agency.

© 2025 Tortoise & Hare CX Agency — All rights reserved.