Poor service and governance issues in the banking industry had caused significant pain among customers, an industry survey of consumer sentiment showed yesterday.
The latest DataEQ SA Banking Sentiment Index analysed over 3.3 million social media posts to gauge public perception towards South Africa’s biggest retail banks. Among the seven regions analysed by DataEQ, South Africa ranked first in banking Net Sentiment, followed by Botswana, Kenya, Ghana, Saudi Arabia, the United Arab Emirates, and the UK.
However, over 60% of related conversations locally reflected dissatisfaction with service levels. Common complaints included long response times, unresponsive service channels, and staff competency issues, particularly in call centres, said Sarah Lamb, the banking lead at DataEQ, in a statement.
Despite a four-percentage-point decline in Net Sentiment from 2023, the banking industry maintained an…