Stanbic IBTC Holdings, a member of Standard Bank Group, continues to set the bar for exceptional customer experiences in West Africa, claiming top honours in the 2023 KPMG Banking Industry Customer Experience Survey.
The Bank secured the coveted #1 spot in both the retail and SME categories, achieving the highest KPMG experience score, and placed third in the competitive corporate banking sector. This feat builds upon Stanbic IBTC’s impressive performance in the 2022 survey, where it dominated both retail and corporate banking categories.
According to a statement, KPMG’s report hailed Stanbic IBTC’s performance, especially in critical aspects of the customer journey, like retail and SME sectors, and attributed its success to the Bank’s unwavering commitment to innovation and a customer-centric approach. Notably, the focus on customer onboarding, particularly through a customer entrenchment strategy, was highlighted as a pivotal factor in this well-deserved recognition.
“This achievement is a testament to our profound commitment to providing exceptional banking experience to our customers,” Stanbic IBTC Holdings Chief Executive, Dr Demola Sogunle, stated. “We are proud to be recognized for our efforts in retail, SME, and corporate banking, and we will continue to innovate and prioritise our customers in all aspects of our operations.”
The survey, now on its 17th edition in Nigeria since its inception in 2007, covered an extensive customer base, with wide-ranging retail banking customers, thousands of SME banking customers, and hundreds of corporate banking customers participating in the research. The rankings were based on the six pillars of performance: empathy, integrity, time, effort, expectation, and personalization.
Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, added, “Our success in this survey reflects the hard work and dedication of our team and the effectiveness of our customer-centric strategies. We will build on this momentum and continue to raise the bar in delivering superior banking services to our diverse customer base.”
Earlier this year, Fitch Ratings reaffirmed the National Long-Term Ratings of Stanbic IBTC Holdings and Stanbic IBTC Bank Limited at ‘AAA (nga).’ Fitch also assigned stable outlooks to the ratings, which underscored the financial institution’s resilience in a challenging operating environment, recognizing its sound asset quality, robust capitalisation, consistent profitability, and the strategic importance of being a member of the Standard Bank Group.
Stanbic IBTC Holdings is a leading financial institution in Nigeria, providing a comprehensive range of banking and financial services across corporate, business, and personal banking, stockbroking, insurance, and asset management. The recent establishment of its fintech subsidiary, ZEST Payments, further underscores its commitment to driving Nigeria’s growth, leveraging deep local insights and international expertise enhanced by being a member of the Standard Bank Group, which is Africa’s largest bank by assets.