Published On: Wed, Mar 1st, 2017

Capitec rated SA’s most gratifying bank

capitecJOHANNESBURG, (CAJ News) – SOUTH African banking customers are the most satisfied with Capitec Bank, despite the bank’s score declining for the first time in four years.
This is according to the latest South African Customer Satisfaction Index (SAcsi) for Retail Banks, conducted by independent company Consulta.
With a score of 83,1, Capitec is well above the industry average of 76,5 yet is 0.7 points behind it 2015 score of 83,8.
Behind Capitec are FNB with 81,3 (up 1,5 points) and Nedbank with 77 (up 1,4 points). Absa recorded a negligible decline compared to its 2015 index score (74,2 in 2016 vs. 74,3 in 2015).
Standard Bank showed another year of decline in customer satisfaction with a score of 71,9 (down 1.1).
Now in its fifth year, the SAcsi Benchmark for Retail Banks offers impartial insights into the South African retail banking industry by blending a Customer Expectations Index, Perceived Quality Index and a Perceived Value Index to achieve an overall result out of 100. South Africa’s top five retail banks are included in the industry index, namely Absa, Capitec, FNB, Nedbank and Standard Bank.
The sample is one of the largest of all SAcsi industries included with 17 483 banking customers who were randomly selected for inclusion in the 2016 survey.
Consulta CEO, Prof. Adré Schreuder, says the organisation has empirical evidence that customer experience drives customer satisfaction, rather than product innovation.
“Thanks to the ease of banking and simplicity of services, Capitec and FNB both performed strongly in this area.”
CAJ News

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