Only U.S.-Based Bank to Receive Top Rating from Lafferty Group
RIVERWOODS, Ill.--(BUSINESS WIRE)--
Discover rated fourth among 100 major global banks and was the only
U.S.-based bank to receive four out of five stars as part of the
quarterly Lafferty Bank Quality Ratings (LBQR). The new service from
Lafferty Group evaluates quality and excellence in banking globally.
“Receiving a top rating for quality is gratifying to us given the
emphasis that we place on it at Discover,” said David Nelms, CEO of
Discover. “We are focused on being a leading direct bank and payments
partner and believe that if we serve our customers well, then our
shareholders will benefit too.”
Lafferty Group considers LBQR innovative and unique because it uses the
banks’ annual reports to assess both quantitative and qualitative
criteria in areas such as strategy, culture, customer care, brand
promise and financial performance, to arrive at a quality rating of one
to five stars. The majority of major UK, U.S., German, French, Spanish,
Swiss, Australian, Chinese, Japanese, and Canadian banks received 3-star
or 2-star Lafferty quality ratings.
“The LBQR uses the annual report because of its unique status. It is the
primary vehicle used by bank management to communicate and account to
shareholders and other stakeholders,” said Michael Lafferty, founder and
chairman of Lafferty Group.
Lafferty Group is a major provider of knowledge services to the banking
industry worldwide, from benchmarking research and Councils to
professional education. It rated 100 financial institutions in 28
countries for these initial results and expects to rate at least 400
banks in LBQR’s first year. The ratings are published in the Lafferty
Bank Quality Ratings Journal and will be updated as banks publish new
annual reports.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and payment
services company with one of the most recognized brands in U.S.
financial services. Since its inception in 1986, the company has become
one of the largest card issuers in the United States. The company issues
the Discover card, America’s cash rewards pioneer, and offers private
student loans, personal loans, home loans, checking and savings
accounts, and certificates of deposit through its direct banking
business. It operates the Discover Network, with millions of merchant
and cash access locations; PULSE, one of the nation’s leading ATM/debit
networks; and Diners Club International, a global payments network with
acceptance in more than 185 countries and territories. For more
information, visit www.discover.com/company.
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Source: Discover Financial Services