GTBank Plc, Zenith
bank have been rated best among others in 2019. The latest Nigeria
Banking Industry Expectation Survey released by KPMG disclosed.
According to the report of the multinational professional
services firm obtained, the two top the
chart across the three segments captured in the year. The segments are retail,
Small Medium Enterprises (SMEs) and wholesale banking.
KPMG stated that the banks had never been under pressure to
perform as competition heightened to improve on customer service experience.
The survey covered 25,466 retail customers, 3,045 SMEs and 369
commercial/corporate organisations.
Best banks in the retail segment
KPMG stated that there had been a two-year decline in
overall customer experience (CX) performance in the retail segment with nearly
all the rated banks falling below the industry average.
Retail banking refers to the provision of financial services
by banks to individual customers (private individuals), rather than
corporations, local and central governments, and other banks.
Under the retail segment, GTBank (74.2), Zenith (73.4),
Access (72.1), Sterling (72.1) and First Bank (71.8) were rated the best banks
in terms of customer experience in 2019.
Sterling Bank, First Bank, and UBA were the biggest movers
in 2019, coming 3rd, 5th, and 7th respectively.
According to the report, two banks recorded actual increases
in their CX scores, and this reflects higher customer expectations and rapidly
evolving customer expectations.
SMEs Segment
Under the SME segment, there were lower levels of overall
satisfaction for SMEs, as analysis of performance in the segment discloses some
levels of dynamism.
The top 5 performers in the SME segment in 2019 are FCMB
(74.4), Fidelity Bank (74.2), Access (73.7), Zenith (73.3) and Ecobank (73.3).
According to the report, Fidelity Bank and Ecobank made the
greatest improvements as both banks moved up more than four places into the top
five banks.
Wholesale/Corporate
Wholesale banking refers to banking services that are
offered just to other institutional customers, corporate organizations with
strong balance sheets, government agencies and so on. In the wholesale segment,
there was also a dip in overall CX scores compared to the previous year’s
performance.
Meanwhile, Citibank, GTBank, Standard Chartered, Zenith, and
Access Bank ranked top in the segment.
A further breakdown shows that Citibank and GTBank maintain
top spots from the previous year, with new entrants (Standard Chartered and
Access Bank) making top five positions.
Banks rank high in integrity
The survey was conducted based on over 3 million detailed
customer evaluations, anchored on six pillars of experience excellence. The six
pillars include personalisation, resolution, integrity, time and effort,
expectations and empathy.
According to KPMG, leading banks demonstrated mastery of
these pillars and were outstanding at all of them. However, when assessed,
integrity (defined as being trustworthy and engendering trust) is the pillar
where Nigerian banks performed the strongest.
Personalisation (bank’s ability to use individualised
attention to drive an emotional connection with the customer) falls behind
other pillars.
