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12 January 2022

Overall Best Bank in Retail and SME Segments

Stanbic IBTC Bank has recently been adjudged as the top-rated bank in the retail and SME segments by KPMG, a leading audit and consultancy firm, in its 2021 Nigeria Banking Industry Customer Experience Survey. 

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, while reacting to the KPMG report, expressed delight at the emergence of the financial institution as the highest-ranked bank in customer experience. 

He said the Bank’s core objective is geared towards building long term relationships with clients by providing timely, innovative, and relevant solutions to the benefit of its clients. 

Wole said: “We are pleased with these accomplishments. It is particularly satisfying to note that this exercise emanated from a survey of customers. 

“This speaks to our relentless commitment to delivering innovative customer experiences. The Bank’s core goal is to become a customer-obsessed financial services provider. 

“The desire to give our customers the best banking experience across our touchpoints, including our traditional and digital channels, remains at the heart of our business. We continue to innovate to ensure we achieve this.” 

Stanbic IBTC’s overall customer experience performance improved significantly as the Bank moved from 9th in the last survey to the top position in 2021, scoring 74.5 percent and 74.7 percent in the retail and SME segments, respectively. 

“Stanbic IBTC Bank was ranked the top-rated bank in the retail segment and was the biggest mover this year – moving up eight places to the top spot. Stanbic IBTC Bank also held the top position in the SME segment and recorded the greatest improvement in the segment,” the KPMG report stated. Security of transactions, reliability of payments and, ATM experience were some key criteria highlighted in the report. 

Another important consideration in the survey was how well the surveyed companies were able to demonstrate mastery of “The Six Pillars of experience excellence,” which are: integrity, adroit resolution of issues, managing and exceeding customer expectations, empathy, reduction of customer effort, and creation of frictionless processes and personalisation. 

According to the survey report, “Customers commended user-friendliness of Stanbic IBTC Bank’s digital platforms, fast response to complaints and good quality social media content, and importantly, acclaimed the experience at the ATMs and in the branches.”