Best and worst banks in SA

·7 May 2015

The latest Columinate SITEisfaction report details which online banking customers are the happiest with their bank.

In the 2015 standings, FNB reclaimed the top spot in the country from Capitec, having lost its number one position in the 2014 ranking.

Capitec, on the other hand, tumbled to third place after Standard Bank saw a ten-point rise to claim second place.

Remaining in last place – where it has sat since the survey launched in 2012 – Absa’s satisfaction score is unchanged.

#	Bank	2015 score
1	FNB	75%
2	Standard Bank	66%
3	Capitec	62%
4	Nedbank	50%
5	Absa	39%
	Industry Average	61%

SITEisfaction 2015

Columinate’s SITEisfaction report is based on survey responses of over 5,000 online banking customers.

These banks are measured on ease of use, information and quality, trust, innovation, device flexibility, reasonable banking fees, and communication and assurance.

The group also detailed a number of trends in the online banking space in SA:

24% of online banking customers only do banking on their computers; 38% use computers and cellphones; and 30% use computers, cellphones and tablets.

Online banking customers are getting more tech-savvy and making use of more features. 28% of customers are now using 15 or more features through online banking, up from only 2% in 2012.

79% of banking customers are now making use of non-banking features, including buying airtime, data, lotto tickets and electricity.

Financial management tools are also gaining traction, with 30% of users aware of these tools, and 9% actually using them (up from 14% and 2% in 2014, respectively).

22seven is the most popular financial management tool, with 22% of the market using them, followed by Nedbank’s MyFinancialLife (20%) and Momentum (18%).