In Summary
  • Ernst & Young tells firms to set up customised products
  • A report by Ernst & Young released on Wednesday shows that more than half of the customers in Kenya reported a bad experience when transacting, compared to a third of bank customers globally.

Kenyan banking customers experience the most problems when dealing with their banks compared to their global peers, a new survey shows.

A report by Ernst & Young released on Wednesday shows that more than half of the customers in Kenya reported a bad experience when transacting, compared to a third of bank customers globally.

The survey titled, ‘Winning through customer experience’, was carried out in 43 countries with responses from 32,000 retail banking customers.

While releasing the results, Ernst & Young head of advisory services for East and Central Africa Celestine Munda blamed the problems on aggressive uptake of technology innovations by banks, creating technical hitches that trickle down to customers.

PROMPT KENYAN BANKS

“The customers, however, report that they are always satisfied with the resolutions when problems are solved,” Ms Munda said.

The survey points out that the high number of problems should prompt Kenyan banks to improve their efficiency in problem-solving.

The local financial sector ranks among the top users of technology, especially mobile phone, which has leap-frogged financial inclusion from less than 20 per cent in 2006 to over 65 per cent by 2012.

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