Kenyan banks up customer service, outperform global peer markets in trust

• Overall banking industry service excellence rating rose from 82.7 percent in 2019 to 96.2 percent in 2021.

Nairobi: …Banks in Kenya have consistently improved service delivery over
the...

last three years, increasing their collective customer satisfaction rating by 13.5 percent from
82.7 percent in 2019, according to the Gold Standard of Banking Services Report published
today by the Kenya Bankers Association (KBA).

The report analyses the quality of banking customer service in Kenya over a period of three
years based on the industry’s annual Customer Satisfaction Survey, which was introduced by
the Association in 2019. The publication seeks to support the banking industry towards the
development of a market environment that provides consumers with the most excellent
product choices, ensuring product safety and preserving consumers’ economic interests.

KBA Chief Executive Officer Dr. Habil Olaka said the report serves as a banking customer service
benchmark, seeking to define service levels for the industry based on the expressed and
unexpressed needs of the banking public.

‘’We know how banks serve customers matters because they give us feedback via the KBA
Customer Satisfaction Survey. We know the banking public recognizes and appreciates how
hard bank employees work for them even amid the pandemic and they reward us for it’’, said
Dr. Olaka.

Based on bank customers’ feedback since 2019, the report recommends minimum standards
and best practices aimed at supporting banks to offer customers products and services that
that empower the banking public to manage and grow financial resources and contribute to
the economic development agenda.

The recommendations include setting up responsive mechanisms meant to ensure expedient
response rate to customer complaints, implementation of efficient channels for collecting
customers’ feedback and accommodation of Persons with Disability across bank channels and
service touchpoints.

The report also cites the 2022 Edelman Trust Barometer (ETB), which shows that Kenyan banks
have outperformed peer markets in Africa and globally in trust, ranking higher than the
worldwide average on the credibility of banking services and cards. The Barometer is a global
assessment of trust and credibility across sectors that has been conducted over the last 22
years.

About the Kenya Bankers Association:
KBA (www.kba.co.ke) was founded on 16th July 1962. Today, KBA is the financial sector’s leading
advocacy group and banking industry umbrella body that represents total assets in excess of USD 50
billion. KBA has evolved and broadened its function to include advocacy on behalf of the banking
industry and championing financial sector development through strategic projects such as the launch
of the industry’s first P2P digital payments platform PesaLink. In line with the Government’s policy on
public-private partnerships, KBA and Central Bank of Kenya have implemented key projects such as
modernization of the National Payments System through the Automated Clearing House, implementing
the Real Time Gross Settlement System (RTGS), and the Kenya Credit Information Sharing Initiative. The
KBA members are comprised of commercial banks and deposit taking microfinance banks. For more
information, visit www.kba.co.ke.

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