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FNB has been ranked as the best digital bank in South Africa, taking the gold in both mobile and Internet banking.
This is according to the latest SITEisfaction survey from Human8, which looked at customer satisfaction in digital banking services across South Africa.
The group ranks internet and mobile banking platforms based on its SITEisfaction score out of 100, which is determined using both quantitative and qualitative approaches.
The quantitative approach uses short surveys on the Internet and mobile banking experiences of primary and secondary users. This includes usage, satisfaction with platforms and other issues, such as security and extent of trust.
“Including implicit brand measurement, focusing on brand perceptions of each bank to add an additional layer of aspects that could influence digital platform perceptions and experiences,” Human8 said.
The qualitative measurements are based on engagement with consumers, covering a series of issues, such as digital inclusiveness, empathetic banking, the cost-of-living crisis and how banks can help consumers in challenging times.
Results
According to the SITEisfaction’s results, FNB is the Best Digital Bank in South Africa, with a score of 73.94.
Nedbank is in second place with a score of 72.09, whilst digital-only TymeBank is in third place with 69.76 points.
Digital Banking
Delving more into the numbers, according to Human8’s website, FNB also had the best internet banking, with a score of 74.05.
Second on the list was Nedbank, with an overall score of 72.61.
Discovery Bank was the highest-placed digital-only bank at third (69.95), whilst TymeBank was fourth (69.91). Absa completed the top five with a score of 68.50.
South Africa’s biggest bank in terms of revenue Standard Bank was in sixth place (67.86), while Capitec, South Africa’s biggest bank in terms of the number of customers, was in last place (66.76).
Although FNB has the highest score amongst primary users (75.10), Discovery Bank beat the FirstRand subsidiary by 0.01 points to have the highest score amongst secondary users (72.55).
Standard Bank (64.26) and Capitec (65.95) were also the worst performers for primary and secondary users, respectively.
The results from Human8’s research for the best Internet banking can be found below:
Internet Banking
| Rank | Bank | Primary Users | Secondary Users | Total |
| 1 | FNB | 75.10 | 72.54 | 74.05 |
| 2 | Nedbank | 74.83 | 70.99 | 72.61 |
| 3 | Discovery Bank | 65.21 | 72.55 | 69.95 |
| 4 | TymeBank | 72.56 | 68.83 | 69.91 |
| 5 | Absa | 70.86 | 66.32 | 68.50 |
| 6 | Standard Bank | 64.26 | 71.23 | 67.86 |
| 7 | Capitec | 67.34 | 65.95 | 66.76 |
When it comes to Mobile Banking, FNB was again named the best in the country.
Nedbank was again in second place, followed by Capitec, which scored far higher than it did in Internet banking.
Mobile Banking
Human8 added that South African users will often positively rate customer satisfaction in digital baking if there is trust, ease of use and communication.
FNB and Standard Bank both scored highly for trust, while Capitec led in terms of ease of use in its mobile banking category.
TymeBank, on the other hand, did well in the quality of information it provides and transparent communication, which is essential without physical branches, Human8 said.
Interestingly, load shedding has led to major South African bank site disruptions, with Discovery rated the best for reducing this impact through its proactive and transparent communication with its users about issues.
Read: Huge salaries for South Africa’s ‘Big Four’ banking CEOs – earning up to R152,000 a day
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