From recent reports, Nigeria rank at the top on Automated Teller Machines (ATM) users w0rld wide. The study by EY, a global business and financial advisory firm, also showed that Nigerians have the highest sensitivity in Africa and the second highest globally to close accounts based on poor experience.
The EY’s 2014 Global Consumer Banking Report surveyed over 32,000 bank customers in 43 countries, including Nigeria, Kenya and South Africa.
The study also found that Nigerian bank customers are among those from the top three countries that use social media when making decisions on selecting a financial service provider.
After a number of years of sharp decline, confidence in the banking industry is on the rise, trust in individual banks is high and most customers across the globe are satisfied enough to recommend their main banking provider, according to the report of the survey.
Banks are providing traditional banking services well but are viewed as falling short on important aspects of the customer experience, and are also increasingly vulnerable to competition from new providers of banking services, the report stated. The survey found customer experience to be a main driver of trust, and customer experience is also the single most common reason that customers open and close accounts, adding that it is more important than fees, rates, locations, press coverage or convenience.
EY’s Advisory Banking Sector Leader for Africa, Mr. Colin Daley, said in a statement, “Despite another challenging year for banks globally, confidence in the banking industry among African customers has experienced a significant increase, most notably in Kenya and Nigeria, with South Africa tracking the global trend.”
ENCOMIUM Weekly check revealed that the nation’s banks have so far invested a whopping N400 billion in the acquisition of Automated Teller Machines (ATMs) deployed across the country.
A recent report revealed that there are about 13,000 active ATMs performing transactions across the country at bank branches, hotels and airports. It was gathered that the cost of ATMs is determined by their functionalities which include mono-functional, cashless and multi-functional ATMs.