FNB narrowly beats Capitec for top spot in digital banking survey

First National Bank (FNB) came out tops as South Africa’s best digital bank with the best mobile banking and best internet banking, according to the latest annual SITEisfaction report by insights agency Columinate.

FNB narrowly beat Capticec for the top spot.

Launched in 2012, Columinate’s SITEisfaction survey is an annual measure of customer satisfaction with digital banking services in South Africa and rates each banking institution with a SITEisfaction score out of a possible 100. The report reveals the behaviours and experiences of the banks’ online customers.

The report found that FNB took top spot not so much because of customers’ rising satisfaction levels with the bank, as a decline in satisfaction levels among customers of Capitec.

“This declining three-year trend may cost Capitec its reputation as a disruptor and is likely due to Capitec’s customers ‘punishing’ the bank for the platform’s frequent unavailability,” states the report.


Capitec, however, still outperformed Nedbank, Standard Bank and Absa by a large margin.

“This is a critical lesson for new entrants such as Tyme, Bank Zero and Discovery to ensure they create a stable infrastructure, with little to no breaks in service or platform interruptions,” states the report.

“Customers’ satisfaction with their primary bank’s total banking experience has steadily and significantly been improving over the course of the last seven years.”

However, the SITEisfaction score for overall internet banking solutions has not enjoyed a similar improvement and continues to lag behind with a meagre 10-point rise from 54 in 2012 to 64 in 2018. — Fin24

Subscribe to the M&G

These are unprecedented times, and the role of media to tell and record the story of South Africa as it develops is more important than ever.

The Mail & Guardian is a proud news publisher with roots stretching back 35 years, and we’ve survived right from day one thanks to the support of readers who value fiercely independent journalism that is beholden to no-one. To help us continue for another 35 future years with the same proud values, please consider taking out a subscription.

Agency
External source

Related stories

Justice department hit by a costly cyberattack

The theft of R10-million from the Guardian’s Fund account prompts the justice department to freeze all accounts until an audit can determine the extent of the damage

The demise of the chequebook

The use of cheques has fallen about 80% in the past decade as consumer habits shift and digital payments continue to gain traction

Digital banking offers an entry point to the fourth industrial revolution

Digital and mobile offerings have the potential to disrupt the banking industry in South Africa

Mboweni faces taxing decisions

The finance minister must tread a tightrope to fix the economy as he prepares for next week’s budget speech

Firestorms: How Australia’s bushfires created their own weather

During Victoria's Black Saturday bushfires in 2009, lightning strikes caused new fires up to 100 kilometres away from the original blaze

Uganda police arrest pop-star MP Bobi Wine, teargas supporters

Having already been detained a number of times, the singer who looks set to challenge President Museveni in the 2021 elections has been arrested
Advertising

Subscribers only

Covid-19 surges in the Eastern Cape

With people queuing for services, no water, lax enforcement of mask rules and plenty of partying, the virus is flourishing once again, and a quarter of the growth is in the Eastern Cape

Ace prepares ANC branches for battle

ANC secretary general Ace Magashule is ignoring party policy on corruption-charged officials and taking his battle to branch level, where his ‘slate capture’ strategy is expected to leave Ramaphosa on the ropes

More top stories

Sudan’s government gambles over fuel-subsidy cuts — and people pay...

Economists question the manner in which the transitional government partially cut fuel subsidies

Traditional healers need new spaces

Proper facilities supported by well-researched cultural principles will go a long way to improving the image and perception of the practice of traditional medicine

Did Botswana execute ‘poachers’ ?

The Botswana Defence Force’s anti-poaching unit has long been accused of a ‘shoot to kill’ policy. Over 20 years the unit has killed 30 Namibians and 22 Zimbabweans

Limpopo big-game farmer accused of constant harassment

A family’s struggle against alleged intimidation and failure to act by the authorities mirrors the daily challenges farm dwellers face
Advertising

press releases

Loading latest Press Releases…