The Co-operative Bank of Kenya has emerged as the top performer in the Banking Industry Customer Satisfaction Survey conducted by the Kenya Bankers’ Association (KBA).
This marks the second consecutive win for Co-op Bank, securing both the Overall Winner title and the Tier One Bank Category award.
In this year’s survey, which involved gathering feedback from over 30,000 bank customers nationwide, Co-op Bank stood out for its exceptional service delivery.
Expressing his gratitude, Dr. Gideon Muriuki, the Group Managing Director & CEO of Co-op Bank, emphasized the institution’s commitment to enhancing customer experience: “Co-op Bank will continue to invest substantial resources in building the teams, the tools, and the technologies to deliver a fulfilling customer experience across all our service channels.”
Acknowledging the diversity within the banking sector, the survey also recognized Family Bank as the best tier-two bank and Sidian Bank as the winner in the tier-three bank category.
Initiated in 2018 by the KBA, the annual Banking Industry Customer Satisfaction Survey aims to elevate the standards of customer service across the banking sector.
One notable trend revealed by the survey is the increasing prevalence of customers maintaining multiple bank accounts.
Over 60 percent of respondents reported having more than one bank account in 2023.
Specifically, 53.2% of respondents held two or more accounts, with 8.2% managing 4 to 5 accounts, and only 1.2% maintaining more than 6 accounts.
Furthermore, the preference for mobile banking channels has surged, reaching nearly 70% in the past year, up from 67.8% in 2022.
This shift reflects the evolving landscape of banking services, with digital channels playing an increasingly vital role.
Habil Olaka, the CEO of KBA, urged banks to continue investing in the digital space, attributing the growth in digital banking to factors such as improved internet penetration and the availability of affordable quality gadgets.
Rita Mureithi, Customer Experience Manager at Sidian Bank, highlighted the importance of digital banking channels in enhancing customer engagement and service delivery.
She emphasized that while digital channels facilitate swift issue resolution, the significance of physical branches should not be overlooked, as they still serve a crucial role in the banking ecosystem.
