Issue Winter 2009

Banks Come Alive…with the Sound of Music

A December 2008 article in the Israeli newspaper “Maariv” highlighted the results of a study conducted by one of the largest financial institutions in Israel. In the study, 512 people who visited bank branches with no music were surveyed, while another 500 people who visited branches with music were also surveyed. The group that visited the branches with music showed a 35% increase in the feeling of comfort while at the branch. More remarkably, the study showed a 52% increase in those that felt that the waiting time was reasonable and 11% claimed that their wait time was reduced, even though actual wait times remained unchanged. Bank tellers commented that thanks to the music customers raised their voices less frequently and, in general, the music created a sound filter, increasing the sense of privacy and level of intimacy between the customers and tellers.