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FNB wins the Best Digital Bank in South Africa in 2020

InSites-Consulting’s annual report on customer satisfaction puts FNB on the first position as South Africa’s Best Digital Banking with a score of 81 in 2020. Online banking in South Africa has grown massively with millions of customers using banking apps and internet banking.

The InSite-Consulting reports rates ‘each banking institution with a score from -100 (worst possible experience) to +100 (best possible experience), combining the scores for internet banking (via computer web browser) and mobile banking (via mobile apps).’

Capitec Bank is the 2nd Best Digital Bank with a score of 78. FNB and Capitec tied for first place in 2019 with a score of 79.

Consumer data in the SITEisfaction® 2020 report, Credit Image: Insites-Consulting.com

‘These two banks have consistently been rated either 1st or 2nd since the measure was introduced in 2012. Third place is awarded to newcomer TymeBank, with a score of 74, followed by Nedbank (72), Standard Bank (66), and Absa (61).’ the report said.

Customers enjoy and rated Capite for its affordability, user-friendly, and convenience – whereas, with FNB, consumers mentioned security, user-friendliness, and convenience as the best features.

‘Consumers delighted with TymeBank mentioned aspects such as user-friendliness, good safety features, as well as affordability. The latter is further echoed amongst those who recently switched to TymeBank, with most saying they switched because of this. ‘

‘Furthermore, banks traditionally perform better among primary users of an account (the bank account used most often for all banking transactions) than secondary users, but this is not the case with TymeBank: both its internet  and mobile banking platforms performed exceptionally well amongst primary and secondary users.’

The FNB Head of Digital Banking, Guiseppe Virgillito said they are ‘are honoured to once again be recognized as the best digital bank in South Africa.

The consistent improvement in customer experience across our digital channels is in line with our strategy to help customers manage their money through a safer, convenient, and efficient platform. Over the last year, our digital channels saw record interactions, and we continue to see more customers embracing the use of digital channels for their day-to-day banking needs. 

Our sustained investment will allow customers to continue enjoying the benefits of safe and secure banking while building sustainable relationships on our trusted platform. More importantly, this accolade affirms our journey of innovation to offer the best banking experience to our individual and business customers.’ concluded Guiseppe.

 


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