Mobile Apps Gaining Popularity Among Nigeria Bank Customers

• Mobile Apps Gaining Popularity Among Nigeria Bank Customers

Mobile banking apps are the most preferred digital banking platform for bank customers in the country followed by USSD codes, a new survey on digital banking experience of Nigerians has shown.

These findings are contained in the 2018 Consumer Digital Banking Satisfaction Index report published by Agusto & Co. Limited, a credit rating and research agency, on Wednesday.

The report, which highlighted customers’ preferences and attitude towards digital banking platforms provided by banks in Nigeria, also assigned five-star ratings for Consumer Digital Banking Satisfaction to four banks.

The banks are Stanbic IBTC Plc, which scored 86 out of 100; United Bank for Africa Plc, with index score of 84; Access Bank Plc, with a score of 82.5; and First Bank of Nigeria Plc, with a score of 80.6.

As such, the research agency named Stanbic IBTC as the ‘Best Digital Bank in Nigeria’.

According to Agusto, the parameters used in assessing the banks are “range of platforms known by customers; range of services aware of and actively used; perceived security strength; troubleshooting and IT support; ease of navigation; and transaction success rate.”

The report stated that customers demanded a reduction in service charges from Diamond Bank Plc and Zenith Bank Plc; while Access Bank Plc, First Bank of Nigeria Limited, Ecobank Plc, Union Bank of Nigeria Plc and Stanbic IBTC were asked to improve on security measures.

Speaking on the findings in Lagos, the Analyst, Financial Institutions Ratings, Agusto & Co., Oluyomi Akinola, said they indicated ample room for improvement on digital banking services in Nigeria as majority of respondents expressed desire for better user interface; enhanced security features; increased services, particularly on mobile banking platforms; speedy notifications on account activities; less cumbersome enrolment procedures; reduction in charges for frequently used services such as airtime top-up; as well as general improvement in the speed of services.