Sterling, Union, Ecobank lead Customer Service Support to SMEs –– KPMG report

By Babajide Komolafe

MONEY MARKET

Leading audit and professional services company, KPMG Nigeria, has ranked Sterling Bank, Union Bank and Ecobank  Nigeria as  the top three banks in good customer experience in the Small and Medium Enterprises (SME) segment.

KPMG’s Nigeria banking industry customer experience survey measures the performance of lenders in the country in terms of their relationship with their account holders and other users of financial services.

The 2020 survey covered 15,056 retail customers, 1,856 Small Medium Enterprises (SME) and 332 commercial/corporate organisations. Respondents were selected from customers who have interacted with their bank in the last six months.

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According to the report in the SME category, Sterling Bank,  Union Bank and Ecobank were the top three. They were trailed by Zenith Bank and FCMB.

The report stated that: “Overall, the SME segment witnessed a decline in its customer experience score, with Personalisation as the lagging Pillar this year. Sterling Bank emerged as the top-rated bank moving up five places, while Union Bank is the biggest mover this year, moving up nine places to 2nd place. “Personalisation is a key component of the business customer’s experience and requires banks to acknowledge the specific needs of this customer segment and design tailored experiences to meet those needs.

“Feedback from customers suggest that banks are currently not able to deliver on these expectations. From our survey, about 50 percent  of all SMEs surveyed affirmed their need for a fully dedicated relationship manager to provide support and deliver personalised service experiences.

“The remote working arrangements resulting from the COVID-19 pandemic have further constrained banks from catering to this stated need. While many banks struggled with providing dedicated relationship managers to SMEs, other banks have quickly adapted by developing “how-to” guides for their relationship managers to navigate client relations during the pandemic. Ecobank, FCMB and Union Bank are rated as the top banks in the delivery of personalised experiences.

“Another Experience Pillar that garnered the attention of SME customers is Resolution. Here, customers place a lot of importance on banks’ ability to resolve problems, respond to enquiries or address service requests. Sterling Bank, Zenith Bank and Stanbic IBTC were ranked very highly as the top performing banks in the area of complaints resolution.”

Vanguard News Nigeria

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