The Innovative Agency study investigated aspects surrounding the level of innovation being achieved by an organisation, as perceived from a localised end-user perspective.<\/p>\n
The report’s findings are based on a survey conducted with 403 respondees, looking at the levels of banking innovations in South Africa.<\/p>\n
According to the results, 10% of respondents (40) said they had changed banks in the past 12-18 months, citing poor customer service and high rates and fees as the main reasons for moving.<\/p>\n
However, the study found that of the other 90% (360) of respondents who did not switch banks, over 30% (108) cited that they were actually satisfied with their banks.<\/p>\n
The next most cited reason for not switching banks was that the process was too cumbersome.<\/p>\n
![\"Reasons](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2013\/04\/Reasons-for-sticking-with-banks.jpg\")
<\/a>Reasons for sticking with banks<\/p><\/div>\n
Most innovative bank<\/h3>\n
In the Study, FNB<\/a> was voted the most innovative bank with respondents crediting FNB for its ability to “keep changing with the environment” as well as the bank’s ability to challenge the status quo; think outside the box; and being the first to offer new products.<\/p>\n Technology was voted the top factor which drives innovation, while having an innovative culture has overtaken banking products as the second-biggest factor.<\/p>\n When comparing the results of the survey year-on-year, the study shows that FNB has consistently been viewed as the most innovative bank in the country since 2007.<\/p>\n Bank innovation over time<\/p><\/div>\n In October 2012, FNB was named as one of the most innovative banks in the world in the 2012 BAI-Finacle Global Banking Innovation Awards.<\/p>\n The Banking Innovation Study Results\u00a0report is an administered survey conducted during various programs, interventions and workshops offered by Innovation Agency throughout the year.<\/p>\n According to the agency, the survey questions were designed to be opened-ended in nature, and served to gauge individual perceptions around the level of innovation achieved by institutions from an end-user perspective.<\/p>\n “Respondents were not given information and\/or definitions of the survey questions. Data collected was grouped and analysed, which was used to develop the keywords as a means to graphically represent the results of the study,” the agency said.<\/p>\n Most innovative bank<\/p><\/div>\n FNB named most innovative bank in the world<\/a><\/strong><\/p>\n FNB hails eBucks landmark<\/strong><\/a><\/p>\n FNB eBucks: take it or leave it<\/strong><\/a><\/p>\n eBucks changes aggravate FNB clients<\/strong><\/a><\/p>\n![\"Bank](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2013\/04\/Bank-innovation-over-time.jpg\")
<\/a>Methodology<\/h3>\n
![\"Most](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2013\/04\/Most-innovative-bank.jpg\")
<\/a>More on FNB<\/h3>\n