Report: Kenya’s Equity bank most preferred lender

Kenya’s Equity Bank has been identified as the most preferred bank in Kenya according to a recent GeoPoll Straw Poll conducted in August 2017.

The survey conducted among 2,825 unique respondents in three African countries; Kenya, Nigeria and South Africa on customer satisfaction in retail banking, also revealed that the level of customer service is the single biggest reason why bank account holders prefer one bank over another.

When asked which bank was their primary account, 40% of respondents from Kenya mentioned Equity Bank, followed by KCB at 35%. Co-operative bank was the third highly mentioned at 18%.

Results from the survey also indicated that there is a digital transformation happening in Africa and the banking industry has not been spared. Customer service and convenience are the most loved features of the retail banking industry in the three African countries.

Although convenience came second after customer service in South Africa and Nigeria, a majority of Kenyans (63%) prefer a bank that gives them convenience first.  62% and 50% of respondents in South Africa and Nigeria respectively picked convenience as the second best offering by their primary bank.

Equity Bank has over the years invested in putting in place strategic interventions geared towards deepening financial inclusion and broadening access, which remains one of the biggest challenges facing the banking system in Africa.

The exponential growth in the uptake of Equity Bank’s digital banking solutions has given the bank the necessary opportunities to reinvent itself into a digital bank to respond to their needs, in line with its promise as their listening caring partner.

Customers’ banking trends are changing as they are increasingly embracing self-service technology platforms that give them freedom, choice and control. Equity Bank’s digital banking products are giving its clients an easy, comprehensive and secure experience while supporting a convenient lifestyle while transacting both in the country and abroad.

Equity Group has indicated its intent to focus on brand investment and visibility as well as digitization and innovation for increased efficiency and customer convenience.