Co-op Bank ranked top in customer experience survey by KBA

The Co-operative Bank of Kenya has been ranked best in customer experience from in a survey conducted by the Kenya Bankers Association (KBA) among customers of all the forty member banks.

According to the findings, Co-operative Bank offered the best customer experience.

“Based on customer experience ranking, respondents were asked to rank on a scale of 1 to 5 their overall experience with the main bank, and the respondents’ views are resoundingly positive.” The report by KBA shows in part.

Among the nine tier-one banks, Co-operative Bank, which is listed at the Nairobi Securities Exchange (NSE), led in the ranking.

It was followed by the Kenya Commercial Bank (KCB) and Standard Chartered.

Effectively, the Chief Executive Officer (CEO) Gideon Muriuki led bank the emerged the Overall Winner of the Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).

The 2022 Banking Industry Customer Satisfaction Survey obtained 33,801 responses compared to 29,791 responses received in the 2021 Survey.

The survey, whose main aim is to evaluate the quality of customer service offered by the banking industry in Kenya, put Co-operative Bank ahead of Family Bank, with KBA noting that the customers surveyed were generally satisfied with services offered by local lenders.

This is despite the recent developments where Kenyans have complained of poor services offered by various banks on social media, especially Twitter.

KCB, the second-largest bank in asset size, was third in the ranking that started in 2018.

This award comes only two weeks after Co-op Bank was also recognised with the “Excellence in Customer Experience in Digital Banking” award at the Digibanking

Event held recently, and re-affirms our position as the financial institution offering the most fulfilling customer experience in the industry.

The annual Customer Satisfaction Survey was initiated in 2018 as part of efforts being spearheaded by KBA towards enhancing customer experience in the banking industry.

The 2022 survey was conducted amid the clamour for enhanced support towards economic recovery.

On the other hand, Family Bank led in the category of mid-sized lenders, head of National Bank which came second while Prime Bank was third in the ranking that showed customer service by Kenyan lenders had improved owing to digitization.

ABC Bank was ranked the top among the tier three lenders, Sidian Bank was second while Credit Bank came third.

Out of a maximum score of five, 96.5 per cent of the respondents rated their customer experience with their banks above three.

Slightly over half of the respondents rated their customer experience with their main banks at five, being the highest rating.

“In addition, 35.4 per cent rated it at four and 10.4 per cent rated their customer experience at three.” The report shows.

This is an annual survey conducted online using the Survey Monkey survey tool.

However, the chief executive officer of KBA Habil Olaka, noted some lingering challenges, especially in the area of facilitating satisfactory experiences for persons with disability.

“Based on this report’s findings, there is a need to redouble efforts towards ensuring independent access to banking services for this important segment of the banking public.” Olaka noted.