South Korea’s first digital-only bank Kakaobank (kakaobank) earned the top spot as the Most Helpful Bank in Asia Pacific during COVID-19 in the inaugural BankQuality Consumer Survey and Ranking, which involved 11,000 bank customers in 11 markets across the region.
July 02, 2020 | Janine Marie Crisanto- kakaobank was highly rated by consumers for the efficacy of its digital banking services
- Rounding up the top five Most Helpful Banks in the region during COVID-19 are UnionBank (Philippines), Kotak Mahindra Bank (India), VPBank (Vietnam) and Citibank (Singapore)
- kakaobank was also recognised as the Most Recommended Bank in Asia Pacific
The BankQuality.com survey was conducted at the height of the pandemic, thus capturing the shift in consumers’ adoption of digital and contactless transactions.
kakaobank was highly rated by consumers for the efficacy of its digital banking services
kakaobank secured the highest score among banks in Asia Pacific for its COVID-19 responses with a BankQuality Score (BQS) of 102.21. Because of kakaobank’s digital business model, it is well-positioned to provide financial services to its customers during this period where physical distancing is vital.
Customers of kakaobank remarked that the bank was helpful, efficient and convenient because of its contactless mobile banking services. The usability of the bank’s mobile app design enabled it to provide convenience and speed for customers. It takes only ten seconds to transfer money to a friend, and mere minutes to open an account, wire money internationally or receive a microloan.
In response to the pandemic, kakaobank has introduced initiatives to ease the financial burden of its customers, such as cutting its Western Union overseas international transfer fees from between $6 and $12 to a fixed amount of $5.
To view the full ranking, visit https://www.bankquality.com/global-rankings/most-helpful-banks-in-asia-pacifi...
Categories: Keywords:
