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GTBank Wins Agusto & Co’s Best Digital Bank in Nigeria

GTBank Wins Agusto & Co’s Best Digital Bank in Nigeria

Agusto & Co in its third edition of the consumer banking satisfaction index has dissected the level of customer satisfaction towards digital banking channels in Nigeria with Guaranty Trust Bank (GTBank) scoring the highest user experience score.

According to Agusto & Co, mobile banking applications remain the most popular platform for digital banking. The increasing use of mobile banking has also been backed by the growing base of mobile phone users, which has grown by a five-year compound annual growth rate of 6% to 184.4 million as the end of 2019. Approximately 82% of the survey respondents are aware of their respective bank’s mobile banking service while internet banking recorded 57% awareness. The respondents are least aware of WhatsApp and other virtual banking platforms (such as the chatbot service and telephone banking), with only 6% of the respondents indicating their knowledge of these services.

According to the rating firm, Guaranty Trust Bank (GTBank) emerges the Best Digital Bank in Nigeria with a user experience score of 74.2. Zenith Bank was the highest-ranked bank in the 2019 edition, with a score of 74.2 but dropped to the 4th position this year (a score of 70.9) due to lower ratings in transaction success rates and troubleshooting & IT support. First Bank of Nigeria ranked second, while Access Bank ranked third. GTBank’s top position was underpinned by comparably higher transaction success rates, which is most crucial in the current ‘COVID-era’. The Bank’s position was also upheld by the significant level of awareness of its digital banking services compared to the other banks in the survey sample.

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