FNB wrests best digital bank title from Capitec

FNB is once again the best digital bank in the country, according to Columinate's latest SITEisfaction survey.

FNB is once again the best digital bank in the country, according to Columinate's latest SITEisfaction survey. The bank, which lost the title to Capitec last year, has also won honours at the African FinTech Awards.

FNB claimed top spot in the internet banking (score of 75) and mobile banking (82) categories, despite receiving a slight lower score from customers in the Internet banking category.

Calumniate co-founder and CEO Dr Henk Pretorius says FNB’s win – while spurred by the good experience customers report receiving across all of the bank’s digital channels – can also largely be attributed to a sharp decline in Capitec’s Internet banking satisfaction score, which fell from a score of 78 last year to 70 this year.

The drop came as a result of Capitec’s inconsistencies in platform accessibility.

Nedbank, with a satisfaction score of 60, showed the most improvement of all the banks from last year, followed by Standard Bank with a score of 55 and Absa, which scored 48.

“It is worth noting that the rise in Internet Banking SITEisfaction scores are driven predominantly by secondary users, those who use these platforms in addition to another bank’s platform, as primary users report little change,” says Pretorius. “Secondary users will inevitably have a greater impact on the score because they’ve had the opportunity to compare site layouts, functionality, products, and services. The greater degree of competition is excellent for the industry as it assists the banks in developing more comprehensive products and services, as well as creating more intuitive and secure user-interfaces for their various service portals. But the converse is also true: Banks can no longer create products and services in isolation – their customers know what’s on offer elsewhere.”