Abu Dhabi Commercial Bank ...most recommended bank.
UAE banks need to improve customer service: survey
DUBAI, March 7, 2017
Customer service is the primary banking feature clients of UAE banks would like to see improved, according to a new survey.
The survey by Souqalmal.com, a leading personal finance and insurance comparison website in the UAE, covered close to 1,500 bank customers in the UAE for its 2017 edition of its annual Bank Satisfaction Index.
Customer service has a high influence on customer satisfaction, the survey results highlighted.
Customers also called for better product offerings and higher transparency in rates, as the second and third most upgrade-worthy areas in banking.
Results from the survey revealed that 25 per cent of UAE respondents would actively recommend their bank to friends or colleagues. This is a 9 per cent drop from the results seen last year.
Ambareen Musa, founder and CEO of Souqalmal.com, said: "The aim of the survey is not just to understand how satisfied bank customers are, but also to uncover what factors influence customer satisfaction. The Bank Satisfaction Index provides banks with constructive feedback to help them tap into the pulse of the market, and work towards resolving the biggest concerns that customers have."
Among other areas where customers would like to see banks step up, are improved online banking functionality and mobile app offering, faster turnaround time for processing customer requests, and a wider ATM network.
"The survey highlights the gaps in the customer experience journey, and banks can use this knowledge to design products, and deliver service that is sure to delight the customer, and in turn boost customer loyalty towards their primary bank," said Josiane Assaad, director of communications at Souqalmal.com.
The survey also sheds light on how customers like to bank.
Results revealed that digital banking channels are displacing physical channels like branches and ATMs as the preferred way to bank, among UAE (68 per cent) respondents.
Souqalmal.com has also revealed the 'Most Recommended Bank' in the UAE was Abu Dhabi Commercial Bank.
The results are based on an in-depth analysis of product searches and visits received on the site for the period January 1, 2016 to December 31, 2016.
"At Souqalmal.com, we aim to gauge what drives customer behaviour and expectations, and how users can get the most out of their banking experience. The survey has been a step in the same direction, and helps us build on our ongoing research efforts based on the 800,000+ visits we receive on a monthly basis," Musa said. - TradeArabia News Service