By Waliu Adeyeri
… As customers lose trust in its banking service
- Zenith rose to the top Customer-centred bank
- Citibank maintains top corporate bank for the 3rd consecutive time
Guarantee Trust Bank (Gtbank) may lose many customers in 2021, as its customers continue to lament over the bank’s slow response to customers’ queries.
According to the KPMG 2020 Customer Experience Leaders ranking, contained in the 2020 Nigeria Banking Industry Customer Experience Survey titled “The customer in a new reality.”
Gtbank falls from the 1st position to the 3rd in the overall ranking as customer-focused bank in the retail segment.
This was due to the several complaints lodged by its customers and its inability to resolve the issues quickly.
Some customers have revealed their plan to stop patronising the bank for this persistent issue.
Some customers have taken to the socialmedia to lodge their complaints and revealed their plans to stop patronising the bank.
Some of the complaints gathered by TheNewsBeam team are:
@magnate0137: “Since @gtbank @gtbank_help want to be dragged make I kuku call them out. For over 3 months complaints logged still no reversal. Yet another 3 failed transactions since yesterday they kept quite like nothing happened. CC @cenbank for record purposes.
@Heiroglyphiclnc: I am done with @gtbank, I can’t be having heart palpitations everytime I send funds. Moved onto Stan chart and Kuda, they are doing just fine for now with excellent service and top notch customer care.
@NateKorl: Their days are numbered. Gonna be using them for just one purpose soon and nothing more!
Other complaints are:
In its 2020 Nigeria Banking Industry Customer Experience Survey, KPMG reports that Sterling bank also fell from the 3rd position to the 5th position in the overall ranking.
While Zenith bank rose from the 2nd rank to the top customer-centred bank for retail banking.
Wema and Heritage Banks record most significant development
Wema bank and Heritage bank recorded the highest development in 2020.
Wema moved up 10 places to the second position while Heritage bank moved up 9 places to the 4th position.
Retail customers rated the banks on its ability to resolve customers’ queries quickly and rapid innovation to adapt to the Covid-19 conditions.
“For retail customers, Resolution trails all other pillars, confirming the importance of banks’ ability to speedily solve customer queries as well as the need for rapid innovation in this COVID-19 era. This year, while 62% of customers ranked Resolution as very important, only 23% of customers are very satisfied with banks’ ability to resolve issues. Heritage Bank, Wema Bank and Zenith Bank hold the top spots in Resolution, with above industry average CX scores,” KPMG reports.
Gtbank Falls to 5th in Customer-Focused Bank ranking for Wholesale Segment
In its service to larger corporate firms, Gtbank falls from the second position to the 5th position.
This indicates that more corporate firms are rapidly losing trust in the institution.
However, Citibank maintains its position for the third consecutive time as the top corporate bank in the industry.
Stanbic IBTC recorded a huge development in its corporate service to corporate firms as it moved up 10 places from the 13th position to the 3rd position.
Standard Chartered bank and Zenith bank moved up 1 place to sit at the 2nd and 3rd position respectively.
According to the report, 80% of the corporate customers rate the banks based on their ability to resolve issues quickly.
“Most corporate customers (80%) rate their bank’s ability to resolve issues quickly and reliably as paramount to the service experience. They affirm that a bank’s ability to resolve problems, with a sense of urgency, when they arise is a clear differentiation factor. Citibank and Standard Chartered Bank received top scores on this measure,” KPMG reports.
“Corporate customers believe that banks need to pay even closer attention to them as well as have a more nuanced understanding of the various sectors in which they operate, in order to deliver at expected service levels. Despite overall lower industry CX score on Personalisation, Citibank, FCMB and Standard Chartered were top performers in this regard.”
On the overall evaluation of the banking sector performance, the survey reveals that customers rated the quality of communication received from the bank and access to credit as significant value drivers in the year 2020.
The report further shows that “banks were noticeably quick to increase the frequency of their communication with customers during the government imposed lockdown via emails, website updates and push notifications that provided information on a variety of matters e.g. information on branches that are open and available for business, agents and agency locations, digital banking channel options for customers, etc. However, it was the clarity, timeliness and relevance of such information that customers found most valuable.”