The best digital banks in South Africa in 2024
FNB has been named the best digital bank in South Africa.
This is according to Human 8’s latest South African SITEisfaction survey, which evaluates banks’ internet and mobile banking platforms based on user feedback.
FNB was named the Best Digital Bank for 2024 with a score of 72.80.
Nedbank and Capitec followed closely with scores of 70.33 and 69.98, respectively.
Human8 said the recognition underscores FNB’s commitment to “delivering exceptional digital banking experiences.”
The survey highlights several key trends in the digital banking landscape, with ease of use emerging as a critical factor for both the internet and mobile banking users.
Users also demand a seamless, trouble-free experience with comprehensive and high-quality features.
Human said that the FNB, Nedbank, Capitec and Discovery excel in ease of use category, with improvements also seen for TymeBank and Standard Bank.
Regarding functionality, high-quality features are also essential for user satisfaction.
Discovery Bank leads in functionality, offering comprehensive and reliable features that meet users needs.
Effective communication about new features and maintenance updates is also seen as crucial.
FNB, Discovery, and Capitec scored the top spot for communication, ensuring that users were well-informed about platform updates and improvements.
Internet Banking
In 2023, trust in the security of user accounts was the cornerstone of satisfaction for internet banking users.
In 2024, the focus shifted to ease of use and functionality.
Users care about seamless, trouble-free experiences and comprehensive, high-quality features.
Regular and clear communication about UX improvements is also crucial.
Mobile Banking
When it comes to mobile banking users, trust remains the top driver of satisfaction.
That said, a seamless experience, characterised by smooth app functioning and quick problem-solving, has also become important.
Ease of use now ranks as the third most critical factor, showing that banks need to prioritise the fundamentals of UX in their apps.
Human8 said that users are less impressed by flashy innovations and are more focused on reliable, user-friendly experiences. ]
Banks that excel in building trust often do so via visible security efforts.
Discovery and FNB lead in trust, with Absa and Nedbank excelling among secondary users.
“However, a crucial call-to-action for all banks is to ensure their communication reaches secondary users as effectively as it does primary users,” said Human8.
The 2024 report also shows that banks have to engage with users meaningfully.
“While digital presence is important, users also value the option to speak to a real person, emphasising the need for a human touch in digital interactions.”
“This year’s findings suggest that embedding customer experience (CX) within the foundation of UX is crucial. Banks must ensure that their digital platforms are not only functional but also empathetic to user needs.”
Read: R50 million payday for Discovery Bank CEO – R20 million more than his boss
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