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KPMG Names Wema Bank Amongst The Leaders In Digital Payments And Customer Experience In 2020

Mobile Money and Telcos	2510 VIEWS
Mobile Money and Telcos
2510 VIEWS

Friday, January 08, 2021 08:00PM / Wema Bank / Header Image Credit: KPMG Report

Wema Bank Nigeria Plc ranked top in two recent independent surveys on the Banking industry. In its 2020 Digital Channel scorecard, KPMG Nigeria named the bank as a leader in Payments and Transactions for digital banking. Also, in its recently released Banking Industry Customer Experience Survey, the consulting firm confirmed that Wema Bank climbed ten places to 2nd position in the Retail category.

Following a qualitative study of 17 Nigerian commercial banks focusing strongly on retail banking operations, KPMG Nigeria's Digital scorecard tested customer experience across five areas - Digital Onboarding, Digital Payments & Transfers, Digital Lending, Self Service and Customer Care. It categorized banks into four distinct categories; Leaders, Challengers, Followers and Late Starters. Wema Bank emerged a leader in the Mobile & Internet banking (payments/transfers) and the Self-Service categories.

The assessment also revealed ALAT By Wema, the bank's digital banking platform, as the best digital banking channel in Nigeria. According to the report, ALAT By Wema stands out because "the user interface is simple, and only relevant information is visible on the screen, thus keeping design minimal, user friendly, and removing the possibilities for user errors or confusion". The digital banking platform has not only provided the latest banking technology, it fits perfectly into the lifestyle of Nigerians; making life easier for everyone.

In the recently published 2020 KPMG Customer Experience Survey, Wema Bank showed significant growth in the retail category, climbing up ten (10) places from the previous year to 2nd position, with an above industry average of 74.6% CX score. The survey cut across six universal pillars of Personalization, Integrity, Expectations, Resolution, Time & Effort and Empathy. The leading banks showed a mastery of these pillars and are outstanding at all of them. Wema Bank's achievement in this category is a mark of its dedication to excellent customer service and refreshing support for all its customers.

Separately, the bank received an award for the Best SME Bank of the Year for 2020 from BusinessDay. The award recognizes Wema Bank's continuous support for small and medium scale businesses through loans, business advisory, and ease of payments and transactions.

Having redefined the banking space with ALAT, Wema Bank boasts of a capacity to onboard customers digitally end-to-end without the need to visit branches or agents. The bank continues to deliver innovative products to enrich payment and transfer offerings by creating a perfect blend of speed and functionality.

Download the Digital Channels Scorecard HERE

Download the Customer Experience Survey Report HERE