Zenith Bank was recently named the best digital bank of 2019. The accolade comes from a study by Agusto & Co which looks at the customer’s satisfaction rates in relation to digital banking. Agusto & Co is a research and credit rating agency in Nigeria. The research and credit rating agency recently released a report titled 2019 Consumer Digital Banking Satisfaction Index. According to their index, Zenith Bank is on top of other major competitive brands in the sector.
About Agusto & CO’s 2019 Consumer Digital Banking Index
This is the second year of the index and for this year the research and credit rating agency carried out extensive online and offline consumer surveys to create the index. The surveys were carried out across various geopolitical zones in the country. According to the agency, the index was designed to give insights into the behavioural patterns of the respondents. The results were drawn from both the formal and informal sectors.
According to the agency, the results are based on information provided by respondents on the top eight banks in Nigeria by total assets as of December 31, 2018. Agusto & Co’s 2019 Consumer Digital Banking Satisfaction Index report highlights customer’s reference and attitude towards digital banking platforms provided by different banks in the country.
The goal of the index is to create an independent appraisal of ease of using digital banking platforms by the Nigerian populace. The index follows increased competition by banks on digital platforms as well as the growing quest for financial inclusion using digital means.
Zenith Bank Emerges Best Digital Bank in 2019
Zenith Bank came out on top in the index, it was one of only two banks to be awarded a ‘4star’ rating for Consumer Digital Banking Satisfaction. The bank scored the highest between the two banks and was awarded the ‘Best Digital Bank in Nigeria’. According to the index, the ‘4-star’ rating awarded to the bank reflects transaction success rates, ease of use, perceived security and good troubleshooting &IT resolution on its different digital platforms.
The index revealed that Zenith Bank has the highest transaction success rates on digital banking Platforms such as the mobile app, USSD (Unstructured Supplementary Service Data) or web. It revealed that consumers experienced the most ease in navigating through digital platforms. The bank had one of the highest numbers of customers who felt it has an excellent rating on IT issue resolution.
How Other Banks Did on the Index
The top three banks on the index are as follows:
- Zenith Bank
- Access Bank
- Union Bank
Union Bank was rated the highest in IT issue resolution. On the index, EcoBank ranked the lowest followed by Fidelity Bank. For more on the index, please click here