GTBank emerges the 2020 Best Digital Bank in Nigeria – Survey

A research and credit rating agency, Agusto & Co, on Monday disclosed that Guaranty Trust Bank ranked highest in user experience in the third edition of consumer banking satisfaction index.

Mrs Mariam Dabiri, Senior Analyst, Financial Institutions Ratings, Agusto & Co, in a statement made available to our correspondent in Lagos said that the results from the index provided insights to improved customer experience.

Consumer Banking Satisfaction Index dissects the level of customer satisfaction towards digital banking channels in Nigeria

According to the statement, 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 Nigerian banks.

It said that the consumer banking satisfaction index revealed customers’ preferences towards digital banking channels in some 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 the 4th position this year (a score of 70.9) due to lower ratings in transaction success rates, troubleshooting & IT 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 at 31 December 2019,” Dabiri said.

Dabiri also said: “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,” she said.