A recently conducted perception survey by the Strategy & Intelligence Service unit of Nigeria's leading Perception Consulting firm CMC Connect LLP has revealed that there is a perception gap in the Nigerian banking industry.
The nationwide perception audit revealed that some banks’ adverts in Nigeria are misleading. They make some of their banking services look so easy to access, but the opposite is the reality.
Furthermore, the report revealed that Consumers do not have enough information and understanding about banks’ products.
Banks, it says, must be painstaking in providing much-needed information and understanding about their products and services, adding that they must stop making customers feel they are doing them a favour and manage customers with utmost respect and empathy. Customers have alternatives!
The public presentation, titled ‘Customers’ Perception of Banking Products and Services in Nigeria’, was presented by Ms Vanessa Ezenwafor, Team Lead, Strategy and Intelligence, and hosted by Mss Oiza Balogun, Head, Digital PR Strategy Desk, at a webinar on Wednesday, December 6, 2023.
The survey report delved into the thoughts and emotions of Nigerian banking customers, revealing their perspectives, preferences, and expectations as they entrust their financial well-being to the country's banking institutions.
Chairman of Oodu`a Investment Company Limited, Otunba Bimbo Ashiru, while presenting his opening remark, expressed his satisfaction with the detailed survey reports.
He congratulated the firm and emphasised the need for Nigerians to embrace the banking culture, citing its potential to reduce the incidence of armed robbery.
In his words, “Now, it is time for us in this country to imbibe the culture of banking because it will reduce the level of armed robbery.”
President of the Association of Corporate Affairs Managers of Banks (ACAMB), Mr Rasheed Bolarinwa, who was also present at the webinar, emphasised the importance of Nigerians adhering to due process when encountering banking issues.
He discouraged the practice of banking customers venting frustrations and expressing discontent on social media, suggesting a more measured approach such as making use of the bank’s customer complaints platform created by every bank in Nigeria.
Furthermore, he extended congratulations to the firm and lauded its effort to conduct such an extensive survey.
In her conclusion, Miss Ezenwafor posited, “In today's dynamic banking landscape, customer perceptions are vital metrics that shape the industry’s future.
“This survey underscores the importance of understanding these perceptions and acting upon them. To remain ahead of the competition, banks must embrace digital transformation, elevate the quality of customer service, and foster greater trust through transparency and responsiveness.”
The virtual event was attended by distinguished individuals from the banking sector, members of the Nigerian Institute of Public Relations (NIPR), members of the Association of Corporate Affairs Managers of Banks (ACAMB) and representatives of various media platforms.
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