Best and worst banks in SA

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
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%).

More on Banking

How much SA’s banking CEOs earn

Most valuable banking brands in South Africa

South African banking fees 2015

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Best and worst banks in SA