With everything going digital it’s crucial that banks today deliver with data. And since the advent of the smartphone, many South Africans have adopted the new technology as a lifestyle enhancement tool.
Therefore banks can save their customers the inconvenience of a trip to the branch through making better use of digital platforms such as the mobile app. These financial institutions can also offer their customers a more inclusive and empowered experience.
With that being said independent insights agency Columinate has revealed the results of its sixth annual Internet Banking SITEisfaction® survey. In 2016 the survey had incorporated a new category called “Best Digital Bank”; to better measure the different digital banking solutions and experiences.
The creation of the new category meant that Columinate evaluated the consumer satisfaction of the banks’ online and mobile banking offering as a whole. While FNB was crowned the winner of the new category in 2016, Capitec secured the top spot in 2017, scoring 81 out of a possible 100.
Other results included: FNB scoring marginally lower than Capitec in the Digital Banking category, and coming in a close second (79/100); miles ahead of Nedbank and Standard Bank, which were tied for third place with a paltry 61 points. Absa, which enjoyed significant improvements over the course of the last year, still trailed the field with 55 points.
While the surveys Best Mobile Bank category takes a holistic look at all the mobile banking solutions banks offer, from mobile applications to mobi-sites for both mobile phones and tablets. Capitec scored 83 points out of a possible 100, up from last year’s score of 72. FNB secured silver with a respectable score of 80/100. Nedbank enjoyed a spike in mobile banking satisfaction levels, placing third with a score of 71/100, up from 66/100 in 2016.
Standard Bank missed the podium finish after replicating 2016’s results, scoring 70/100 for a second consecutive year. While the industry experienced overall improvement, Absa customers seem to be the exception that proves the rule, scoring the bank 5 points lower from last year, taking fifth place in 2017, with 65/100.
Launched in 2012, Columinate’s SITEisfaction® survey is a measure of customer satisfaction with digital banking services in South Africa. The report reveals the behaviours and experiences of the banks’ online customers. Over the past six years, the SITEisfaction® survey engaged more than 10 000 internet and digital banking users.