Final answer:
One of the biggest factors in the narrowing customer service gap between big banks and smaller banks is the increased use of mobile banking tools by big banks and the substantial outsourcing of customer services to India. The expansion of mobile users provides opportunities for banking services, and outsourcing improves responsiveness. However, banks have a history of financial struggles and regulatory challenges.
Step-by-step explanation:
The question asks about one of the biggest causes for the decrease in the gap between customer service satisfaction between big banks and smaller banks in customer surveys. One significant factor cited for lessening this gap is the increased use of technology, particularly mobile banking tools by large financial institutions. The presence of 4 billion mobile phone users worldwide highlights a substantial opportunity for banks to connect with more customers. Moreover, the outsourcing of customer service, especially to countries like India with a large number of young educated English speakers, has played a part in improving customer service responses of large banks. While this outsourcing has been substantial for the information technology sector, it also includes service-related industries.
Despite advances in technology and changes in customer service approach, historical data shows that big banks worldwide have struggled with internal financial problems, as seen with Japan's banks in the 1990s, and regulatory responses to issues have often been slow. This context of past issues informs the present focus on improving customer satisfaction and the measures taken by banks in response to critique and competition.