FNB Wins Best Digital Bank, According To Human8’s SITEisfaction 2023
FNB Wins Best Digital Bank, According To Human8’s SITEisfaction 2023. Human8 (previously known as InSites Consulting and Columinate), the new human-driven Consultancy has revealed the results of its twelfth annual South African SITEisfaction® survey. Launched in 2012, the report is an annual measure of customer satisfaction in digital banking services across South Africa. Based on user feedback, it rates banks’ internet- and mobile-banking platforms with a Best Digital Bank SITEisfaction® score (out of a possible 100). The calculation of the SITEisfaction® score is evolved compared to previous years, using a structural equation modelling to make the score more relevant and actionable.
User feedback from this year’s SITEisfaction® results indicate that FNB has claimed the top spot as South Africa’s Best Digital Bank, with a score of 73,94. Nedbank is only slightly behind FNB with a score of 72,09. TymeBank claims third place this year with 69,76 points.
The key reasons why South African users positively rate customer satisfaction in digital banking are trust, ease of use and communication. FNB and Standard Bank both reach best scores from users in trust (88%). Standard Bank especially excels in establishing trust among mobile users (89%) by proactive communications about security efforts and threats, assuring users that their sensitive information is safe with Standard Bank.
FNB also receives a top score (83%) for innovation and maintains its reputation for being innovative – a consistent narrative year after year – demonstrated by a successful design revamp of their mobile application. Nedbank and Discovery Bank are secondary leaders in the innovation space.
“Nedbank’s digital transformation journey is centred around delivering a highly engaging and helpful digital banking experience, one that ensures seamless, cost-effective and convenient banking across all our digital channels,” says Anton de Wet, chief client officer at Nedbank. “The findings of the SITEisfaction® survey affirm that our digital strategy, which aims to digitise, delight, and disrupt the financial services industry through rapid innovation, is yielding positive results and adding value in the lives of our clients while getting us one step closer to achieving our aspiration of being ‘Africa’s #1 Digital Financial Services Provider’.”
Capitec leads in the Mobile Banking category on ease of use (92%) thanks to the simplicity of their application. TymeBank one of the two major digital-only banks in the study, excels in the quality of the information (90%) and transparent communication (90%). A crucial differentiation point in the context of a fully digital bank without physical branches.
