KPMG has disclosed that an average of 66 percent of banking ‘customers in Africa are not satisfied with information sent out to them. In its 2016 Banking Industry Customer Satisfaction Survey (BICSS) KPMG said that customer’s appreciation of banks had moved from financials to customers services.
According to the survey, Africa’s retail banking customers are looking for good service quality from their banks, as they are increasingly willing to switch banks if they feel they can get better service elsewhere. Speaking to Journalist at a briefing to launch the report, Partner & Head, Advisory Services, KPMG, Adebisi Lamikanra, said “90 percent say that receiving accurate and complete information from banks is important but just 34 percent are satisfied with the information they receive. Also, on increase in the focus on delivering fast, accurate and timely transactions, 89 percent say that the timeliness of transaction processing is important to their satisfaction, but just 33 percent are currently satisfied with this measure.”
She noted that customers were still concerned about financial stability as they seek for enhanced high-quality service, more innovation and greater convenience, “regulators across the continent have been highly focused on building up the stability of their banks with higher capital ratio requirements, and tighter lending requirements and more stringent regulatory requirements.”
For Nigeria, the report noted: “Nigerian banking customers are more than twice as likely to use an ATM as they are a branch, with almost half of Nigerian respondents (47 percent) saying their ATM preference is related to the proximity and closeness of the machines. Interestingly, while 86 percent say they prefer ATMs for cash withdrawal, 66 percent say they prefer the machines for balance enquiry.”
Meanwhile, the survey revealed that “encourage further adoption of alternative channels More than seven percent now say they use POS terminals or mobile banking at least once per week; more than a third use ATMs as frequently. However, more than two-thirds also admit to never having used POS, inter – net or mobile banking and only four percent interact with their bank using social media on a weekly basis.”
The reported that the bank branch is the most preferred channel for banking, despite the presence of alternative channels on the rise across the continent, adding that the usage of all other banking channels increased significantly between 2013 and 2016, presenting numerous opportunities for banks, “internet Banking Usage has increased from 14 per cent to 21 per cent while usage of the Call Centre has increased from 14 per cent to 27 per cent.”
