Stanbic IBTC Bank Tops Retail, SME Banking in 2024 KPMG Customer Experience Survey

Stanbic IBTC Bank, a subsidiary of Stanbic IBTC Holdings, has once again reaffirmed its position as the leading financial institution in Nigeria, emerging as the top performer in the Retail Banking and SME Banking categories of the 2024 KPMG West Africa Banking Industry Customer Experience Survey.

This remarkable feat marks the fourth consecutive year the bank has led the Retail Banking category, achieving an impressive customer experience score of 75.5 per cent.

Additionally, it secured the top position in the SME Banking segment for the second consecutive year, with an even higher score of 77.3 per cent.

The bank’s excellence in retail banking reflects its relentless dedication to customer satisfaction, seamless account management, and cutting-edge digital solutions.

Customers have particularly lauded its robust mobile banking platform, which boasts high transaction success rates and rapid resolution of issues.

Enhanced features on the Stanbic IBTC mobile app, such as advanced security measures and personalised budgeting tools, have further strengthened its reputation.

One satisfied retail customer remarked, “Stanbic IBTC’s responsiveness and swift handling of unusual account activity reaffirmed my trust in their services.”

In the SME Banking category, Stanbic IBTC has continued to set the gold standard by addressing the unique challenges faced by small and medium enterprises (SMEs).

Customers highlighted the bank’s efficient payment processing systems, proactive problem-solving approach, and dedicated relationship management services.

A survey respondent described the bank’s impact, stating, “Stanbic IBTC’s SME services have been a game changer for my business, offering timely and effective solutions that are unmatched in the industry.”

The 2024 KPMG survey underscored Stanbic IBTC’s customer experience leadership, attributing its success to adherence to core principles: integrity, resolution, managing expectations, time efficiency, personalisation, and empathy.

These values have been instrumental in building long-term customer trust and loyalty.

Reacting to the recognition, Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, said:
“We are honoured to be recognised as Nigeria’s top Retail and SME bank for four and two consecutive years respectively. This achievement reflects our unwavering commitment to innovation, customer-centricity, and excellence.

“We will continue to raise the bar in providing financial services that empower individuals and businesses across Nigeria.”

Looking ahead, Stanbic IBTC Bank is determined to maintain its leadership position by delivering world-class financial services tailored to individual and business needs.

The bank remains committed to advancing financial inclusion and fostering economic growth through innovative and reliable solutions.

With a comprehensive suite of banking services and a steadfast focus on excellence, Stanbic IBTC Bank continues to redefine customer experience in Nigeria’s banking sector, setting the benchmark for others to follow.