Recent research confirms that the vast majority of South African internet users bank online, but that banks have been very slow to make use of digital channels to meet customers’ needs. A study by market research firm Columinate, which assessed consumer internet banking behaviour and satisfaction levels, suggests there is plenty of room for improvement for banks trying to connect digitally with their customers.

Of SA’s big four banks, only FNB scored above 55 – the level rated as “unexceptional” by respondents – on the SITEisfaction internet banking index. With a rating of 68, FNB did a lot better than its counterparts. Standard Bank and Nedbank almost shared second and third place, with scores of 49 and 48, respectively, while Absa brought up the rear with a score of 39.

Incidentally, Capitec trumped all of the big four banks in the survey, achieving a score of 70 – although there were not enough Capitec respondents making up the minimum sample size for it to be crowned winner.

According to Columinate co-founder and research specialist Henk Pretorius,  the findings of the survey present an opportunity for South African banks to foster much better digital connections with their customers – through both online banking and social networking channels.

[Source: ITWeb]