Guaranty Trust Bank is the best digital bank in Nigeria in the third edition of consumer banking satisfaction index, says research and credit rating agency, Agusto & Co.
According to Mrs. Mariam Dabiri, Senior Analyst, Financial Institutions Ratings, Agusto & Co, in a statement on Monday, the results from the index provided insights to improved customer experience.
The analyst noted that the ‘Consumer Banking Satisfaction Index’ examined the level of customer satisfaction towards digital banking channels in Nigeria.
She said the objective of the index was to create an independent appraisal of the ease of using digital banking platforms by the Nigerian public following increased competition by banks on digital platforms as well as the growing quest for higher electronic banking income by banks in the country.
She explained further that the consumer banking satisfaction index revealed customers’ preferences towards digital banking channels in selected banks in Nigeria.
“As revealed by the report, GTBank emerged 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 fourth this year (a score of 70.9) due to lower ratings in transaction success rates, troubleshooting & information technology support.
“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 of 31 December 2019,” Dabiri stated.
Continuing, she explained, “As a research and credit rating agency, we seek to provide banks with credible information on how best services can be improved upon 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 the growing traffic across digital banking channels.”
