Stanbic IBTC gets awarded ‘Best Digital Bank in Nigeria’ as reported by the 2018 Consumer Digital Banking Satisfaction Index report published by Agusto & Co. Limited, a credit rating and research agency, on Wednesday.
The report explores how banks interact with their customers using digital products and services to increase efficiency and offer a better banking experience. It also investigates customer’s attitudes and preferences towards digital banking platforms provided by Nigerian banks and gives ratings based on findings. This year, it awarded a five-star rating for Consumer Digital Banking Satisfaction to four banks.
The banks are Stanbic IBTC Plc, which scored 86 out of 100; United Bank for Africa Plc, with an index score of 84; Access Bank Plc, with a score of 82.5; and First Bank of Nigeria Plc, with a score of 80.6.
According to Agusto, the parameters used in assessing the banks are ‘range of platforms known by customers; range of services aware of and actively used; perceived security strength; troubleshooting and IT support; ease of navigation; and transaction success rate.’
The report stated that customers demanded a reduction in service charges from Diamond Bank Plc and Zenith Bank Plc; while Access Bank Plc, First Bank of Nigeria Limited, Ecobank Plc, Union Bank of Nigeria Plc and Stanbic IBTC were asked to improve on security measures.
An analyst with the rating agency, Oluyomi Akinola commented on the findings of this year’s reports that ‘they indicated ample room for improvement on digital banking services in Nigeria as majority of respondents expressed desire for better user interface; enhanced security features; increased services, particularly on mobile banking platforms; speedy notifications on account activities; less cumbersome enrolment procedures; reduction in charges for frequently used services such as airtime top-up; as well as general improvement in the speed of services.’