Mobile banking has edged out other channels in access to banking services, with banks recording fewer customers physically seeking services.
- •Kenya Bankers Association (KBA) says the banked population prefer digital channels, with mobile banking being the most sought-after channel among customers.
- •Internet banking is the second most preferred channel at 24.6 per cent, a slight uptick compared to the 23.3 per cent preference in 2022.
- •The umbrella body further noted that bank customers least prefer the cash deposit machines in what is perhaps attributed to their limited penetration.
“Due to higher digital adoption, customers are visiting branches less with its preference coming third at 19.6 per cent, compared to 17.6 per cent in 2022. Preference for ATM stood at 17.7 per cent,” said KBA in its Banking Industry Customer Satisfaction Survey (2023).
“As banks pursue digital adoption (mobile banking) to improve efficiency and customer experience, they must navigate evolving customer preferences to different channels for different needs. Short of implementing every possible support channel, banks typically have to prioritise which channels they can offer, as customers service channel preference have to be informed by the unique characteristics of their specific customers, which requires data-driven decisions about which channels to support.”
The 2023 survey notes that more than a half of bank customers maintained more than one bank account last year, in a trend that highlights a growing desire for customized convenience in services and products among bank customers.
The level of bank clients with two bank accounts stood at 53 percent, with the proportion of holders of 2 to 3 and 4 to 5 bank accounts representing 8.2 percent and 1.2 percent, respectively.
Kenya Bankers Association Chief Executive Officer Habil Olaka said the growing trend in multi-banking underscored increasing competition among players in the banking sector in product offerings as well as in customer experience.
The survey findings place the access rate to banking services by Persons with Disabilities (PWDs) at 88 percent. However, 6.5 percent of PWDs still require a third party to access services, denying the banking population an opportunity to manage their finances independently and equally participate in the economy.
Olaka noted that efforts are underway to address the challenge under the banking industry Persons with Disability Accessibility project. Coordinated by KBA, the project seeks to enable banks to put measures in place that will ensure full and independent access to banking services.
The Kenya Bankers Association conducts the banking industry customer satisfaction survey (BICSS) annually. The survey seeks to contribute to the banking industry’s efforts towards enhancing quality of customers experience.
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