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StanChart Kenya is Most Recommended Retail Bank in Africa; Nedbank, Capitec Bank, CalBank, and Guaranty Trust Bank lead multiple consumer rankings

Customers decide which banks in the Africa region stood out from the rest and were most helpful during COVID-19 following the result of the BankQuality Consumer Survey and Rankings for 2020

December 29, 2020 | Janine Marie Crisanto
  • Standard Chartered Kenya is Most Recommended Retail Bank in Africa
  • Nedbank is Most Helpful Bank in Africa during COVID-19  
  • Capitec Bank, CalBank, and Guaranty Trust Bank emerged as country favourites and outperformed regional peers in consumer products and channels 

Consumer experience is a priority for financial institutions. Now more than ever, customer engagement is crucial to the survival of banks as the industry undergoes accelerated digital transformation and continues to face the impacts of the COVID-19 pandemic.

TAB gathered feedback from consumers in Africa about their experience and satisfaction with retail banks as part of BankQuality™ Consumer Survey and Rankings. The BQ survey involved 4,000 consumers from Ghana, Kenya, Nigeria, and South Africa. It assesses consumer perception, attitude and loyalty to financial institutions based on their experience with service, channels, products and pandemic-related initiatives.

Standard Chartered Kenya is Most Recommended Retail Bank in Africa

Standard Chartered Kenya (StanChart Kenya) received the highest overall rating for its retail banking services among banks in Africa. The bank received a BankQuality™ Score (BQS) of 101.49 – outperforming its peers in Ghana, Kenya, Nigeria, and South Africa. 

The bank began its digital transformation back in 2016 and invested in upgrading its capabilities and channels specifically internet banking. In 2019, StanChart Kenya claimed that more than 90% of its total bank clients were engaged in its digital channels. It also continued to improve customer experience and digital offerings over the years. The bank worked with the Kenyan government to upgrade the former’s tax payment solution to be fully integrated and in real-t...

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Keywords:Bank Rankings, Consumer Rankings, Digitalisation, Customer Service, Open Banking, Mobile Banking, Platform, Agile