Consulta CEO, Professor Adré Schreuder had the following to say about the survey; “FNB showed the highest improvement and is now within reach of Capitec, with Nedbank still in the race. The intensity in competing for customers’ hearts and minds is fierce since only two banks have managed to improve their scores this year, namely FNB and Nedbank. Despite the Barclays announcement, Absa showed resilience in maintaining its score at the same level as 2015.”
“In the banking industry, we have empirical evidence that customer experience drives customer satisfaction rather than product innovation. Thanks to the ease of banking and simplicity of services, Capitec and FNB both performed strongly in this area,” said Schreuder.Not only is customer satisfaction and perceived fairness measured, but so is the Treating Customer Fairly (TCF) code. Elements of this code are already included in legislation, like the FAIS Act General Code. This score measures how well financial services providers have incorporated TCF outcomes into their brand culture.
Want to rate your bank or see what others have to say about their experiences with their banks? CLICK BELOW to view our consumer-driven Guru Grade.