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Monday, November 09, 2020 / 09:00AM / Agusto & Co / Header Image Credit: Agusto & Co
Leading Research and Credit Rating Agency, Agusto &
Co has launched the third edition of its consumer banking satisfaction index which
dissects the level of customer satisfaction towards digital banking channels in
Nigeria with Guaranty Trust Bank (GTBank) ranking highest in user experience.
According to Agusto & Co, the objective of the
Index is to create an independent appraisal of the ease of using digital
banking platforms by the Nigerian populace following an increased competition
by banks on digital platforms as well as the growing quest for higher
electronic banking income by Nigerian banks. The consumer banking satisfaction
index reveals customers' preferences towards digital banking channels on some
selected banks in Nigeria. The index which contains a survey and a scorecard,
is now available online on https://www.agusto.com/2020-consumer-digital-banking-satisfaction-index-report/ and showcases that the crux of customers' complaints is customer service
delivery.
As revealed by the report, Guaranty Trust Bank
(GTBank) Emerges the Best Digital Bank in Nigeria with a user experience score
of 74.2. Zenith Bank was the highest-ranked bank in the 2019 edition, with a
score of 74.2 but dropped to the 4th position this year (a score of 70.9) due
to lower ratings in transaction success rates and troubleshooting & IT
support.
GTBank's top position was underpinned by comparably
higher transaction success rates, is most crucial in the current 'COVID-era'.
The Bank's position was also upheld by the significant level of awareness of
its digital banking services compared to the other banks in the survey sample.
Agusto & Co also observed that the COVID-19
pandemic has driven an increase in the use of digital channels and created an
opportunity to grow transaction income across the various platforms. In
addition to benefits to commercial banks, the pandemic has also provided
digital banks with an avenue for growth. The survey also indicates that only
46% of the survey respondents are aware of digital banks.
Senior Analyst, Financial Institutions Ratings at
Agusto &Co, Mariam Dabiri says; "As a research and credit rating agency, we
seek to provide banks with credible information on how best services can be
improved for customers. We believe findings from this Index will provide good
insights and suggestions to enhance customer experience. Generally, we believe
that there is a need for more dedicated investments in customer service and
relationship management to support growing traffic across digital banking
channels."
The 2020 Consumer Digital Banking Satisfaction
Survey targeted a focus group of respondents drawn from the formal and informal
sectors of the economy. The coverage banks indicated in the survey are also top
10 commercial banks based on the value of total assets and contingents as at 31
December 2019.
To read the full report please click the link below: https://www.agusto.com/2020-consumer-digital-banking-satisfaction-index-report/
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