Customer
Satisfaction Survey
2023
Banking Industry
March 2024
‘You don't earn loyalty
in a day. You earn
loyalty day-by-day’
JEFFREY GITOMER
The Kenya Bankers Association (KBA) conducts the Banking Industry
Customer Satisfaction Survey (BICSS) annually in collaboration with the
KBA Customer Service Working Group, which is comprised of members
from the banking sector. The publication seeks to contribute to the banking
industry’s efforts towards enhancing the quality of customer experience.
Since its inception in 2018, the Survey has continued to inform industry
strategies towards customer-centrism and ensuring access to financial
services for all. Over the years, the survey has continued to inform industry
strategies towards customer-centrism and ensuring access to financial
services for all. This edition aims to build on these industrywide efforts by
addressing emerging needs. The 2023 Survey analyses trends in the year
under review, compares feedback with findings from the past five editions
of BICCS with a view to enrich discourse on policy interventions that can be
instituted to enhance industrywide customer experience.
About the Survey
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 I
Survey
Highlights
Preferred
Mode of
Interaction
with Banks
46
%
Automated
17
%
Human-
Assisted
Preferred
Banking
Channels
70
%
Mobile
25
%
Internet
30,608
Responses in
2023
87.8
%
Self-Access to
banking services
by PWDs
87
%
Access to
banking
services by
PWDs
2-3
Accounts
53
%
Respondents
Gender
67
%
Male
33
%
Female
Multi-
banking
Trend
One
Account
37
%
37
%
26-35yrs
24
%
36-45yrs
14
%
18-25yrs
Respondents
Age
II KENYA BANKERS ASSOCIATION
Contents
About this Survey
Survey Highlights
Foreword
Sampling Methodology
Demographic Distribution
a. Geographical location
b. Age
c. Gender
Multi-banking Trends
Overall Customer Experience
Banking Channel Preference
Preferred Mode of Interaction in Accessing
Banking Services
Access to Banking Services for Persons with
Special Needs
Complaint Resolution Rate
Industry Net Promoter Score
Appendix
i
ii
1
2
3
3
4
4
5
5
6
7
8
9
10
12
The entire content of this publication is protected by copyright laws. Reproduction in part or whole requires express written
consent from the publisher. © Kenya Bankers Association, 2024
Dr. Habil Olaka, EBS
Chief Executive Officer
We are delighted to present
the Banking Industry
Customer Satisfaction Survey
Report 2023. The report builds
on the mission of its
predecessors ― to promote a
customer-centric banking
industry through
evidence-based interventions.
It also reaffirms the banking
industry’s commitment to
uphold high customer
experience standards and
embracing international best
practices.
The Kenya Bankers
Association (KBA) recognizes
excellent customer
experience as a strong
promoter of financial
inclusion. The banking
industry’s umbrella body, KBA
considers responsive and
dynamic banking customer
service as a critical enabler of
participation in the financial
ecosystem.
In recent years, technology
has continued to shape
customer expectations,
making customer experience
one of the most dynamic
functions in many sectors. As
a result, customer experience
has evolved beyond routine
operational practices. Today,
satisfactory customer
experience is increasingly
demanding understanding of
customers’ needs from their
individual perspectives and
needs.
Therefore, this report
analyses the various banking
and customer service
channels, highlighting areas
that the industry is doing well
and pointing out aspects that
require improvement. From
the findings, preference for
digital banking channels
continues to grow, with more
customers saying they would
rather use automated
banking services than
physically visit a bank branch.
The physical branch remains
vital for human assisted
services such as customer
support services.
This report also shows that
the proportion of Persons with
Disabilities with access to
banking services has
continued to grow. However,
the challenge of independent
access still persists. I have no
doubt that initiatives being
implemented by the banking
sector under KBA’s PWD
Accessibility program will go a
long way in addressing the
accessibility challenges faced
by the PWD community.
As we delve into the findings
and recommendations
presented in this report, I
invite you to join this journey
of reflection, improvement,
and innovation. Together, we
will continue to further a
transformative course for the
banking sector.
Foreword
01 KENYA BANKERS ASSOCIATION
The Kenya Bankers Association (KBA) Customer Satisfaction
Survey is an annual survey conducted online using SurveyMonkey
Survey. The survey is aimed at obtaining information from the
banking public. The survey is based on a simple random sampling
technique that:
In 2023, 30,608 responses were received. In addition, 12.25%
percent were persons with special needs (i.e., braille, ramp, screen
reader, voiced aid).
Sampling Methodology
responses were
received in 2023
30,608
Reduces the possibility of
systematic errors and minimizes
sampling biases; and
Produces a representative
sample, ensuring the
generalizability of inferences
drawn therein to the population
of bank customers.
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 02
1. CBK Annual Bank Supervision Report 2022
https://www.centralbank.go.ke/uploads/banking_sector_annual_reports/1376276635_2022%20Annual%20Report.pdf
a. Geographical location
Access to banking services is
concentrated in a few geographical
regions with Nairobi being the most
popular choice for customers. (Figure 1).
This trend indicates the high level of
access to formal financial services
among the residents of Nairobi. Kiambu
and Nakuru ranked third and fourth
respectively with 6.1% and 4.1% of
customers accessing banking services
there in 2023 compared to 5.7% and
4.1% in 2022.
The trend mirrors the distribution of financial touch
points, especially the branch network of the banking
sector.
1
That said, the distribution of the responses
across the 47 counties remains comparatively similar
to the trends observed in the 2022 survey, with slight
variations.
However, slight variations in the number of responses
exist, suggesting that there has been increased
participation by the banking public in the survey across
the counties. The detailed breakdown of the responses
across the counties is presented in the Appendix.
Demographic distribution
01
Geographical Distribution of 2023 Responses
Figure 1
Mombasa
Nakuru
Kiambu
Nairobi
44.5
%
5.7%
6.2%
4.1%
2. Promoters are respondents who answer with a 9 or 10 and are the most loyal of customers whose enthusiasm for the
bank translates into actual recommendations to family and friends.
3. Passives are respondents who answer with a 7 or 8, are largely indifferent, and therefore are disinclined to share either
negative or positive reviews with others.
4. Detractors are those respondents who answer the question with a 6 or lower; these respondents are unsatisfied
customers who could actively harm the bank's brand by making their complaints public.
5. In the 2023 survey, respondents were asked the question, "On a scale of 0-10, with 10 being the highest, what is the
likelihood that you would recommend us (our bank) to a friend or colleague?" whose response was used to compute the
Net Promoter Score® (NPS).
03 KENYA BANKERS ASSOCIATION
Male Female
66.8
%
65
%
2022
33.3
%
35
%
2022
b.
Age
In the 2023 survey, most respondents
were found to be between the ages of
26-35 years, which accounted for 38.2%
of the respondents.
Those aged between 38-45 years
accounted for 25.3%, those aged 18-25
accounted for 13.8%, while those aged
between 46-55 years accounted for
13.7% and those aged between 55-65
years accounted for 6.3% of the
responses. The percentage of
respondents under 18 and those above
65 years accounted for 0.2 percent and
2.7 percent respectively.
While there are slight variations in the
distribution of responses by age in the
2022 survey, it mirrors the trends
observed in 2021. Specifically, in 2022,
the distribution of responses was 26-35
years (37.3%), 36-45 years (24.8%),
18-25 years (14.6%), 46-55 years
(13.8%), 55-65 years (6.15%), under 18
(0.7%) and those above 65 years (2.5%).
c.
Gender
Gender differences in participation in the survey are evident. In 2023, males accounted for
66.8 percent while females accounted for 33.3 percent of the responses, a trend that
compares with the 2022 survey, where 65.6 percent of the respondents were male, and 34.4
percent were female.
Gender Distribution of the Survey Responses
Figure 3
Age Distribution of the Survey Responses in 2023
Figure 2
38.2
%
of bank
customers
surveyed aged
between 26-35
years
46-55
yrs
13.7
%
2022
18.8
%
56-65
yrs
6.3
%
2022
2.5
%
2.7
%
2022
0.7
%
65+yrs
0.2
%
2022
6.7
%
Under
18yrs
18-25
yrs
13.8
%
2022
14.6
%
26-35
yrs
38.2
%
2022
37.3
%
36-45
yrs
25.3
%
2022
24.8
%
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 04
Tier 02
1. CBK Annual Bank Supervision Report 2022
https://www.centralbank.go.ke/uploads/banking_sector_annual_reports/1376276635_2022%20Annual%20Report.pdf
Multiple bank relationships continue to be
the predominant feature. In 2023,
approximately 62.6 percent of the
customers are multi-banked, with
single-bank relationships accounting for
37.4 percent. Regarding multi-bank
relationship, 53.2 percent hold two or more
accounts in 2023 compared to 48.2 percent
in the 2022 survey. Holders of four to five bank accounts represented 8.2 percent of the
responses in 2023 compared to 5.8 percent in 2022. Lastly, respondents holding more than
six accounts accounted for 1.2 percent in the 2023 survey compared to 0.7 percent in the
2022 survey.
Overall Customer Experience
In the 2023 survey, respondents ranked banks that offer the
best overall customer experience, and the feedback is
tabulated below.
Multi-Banking Trends
02
03
2. Promoters are respondents who answer with a 9 or 10 and are the most loyal of customers whose enthusiasm for the
bank translates into actual recommendations to family and friends.
3. Passives are respondents who answer with a 7 or 8, are largely indifferent, and therefore are disinclined to share either
negative or positive reviews with others.
4. Detractors are those respondents who answer the question with a 6 or lower; these respondents are unsatisfied
customers who could actively harm the bank's brand by making their complaints public.
5. In the 2023 survey, respondents were asked the question, "On a scale of 0-10, with 10 being the highest, what is the
likelihood that you would recommend us (our bank) to a friend or colleague?" whose response was used to compute the
Net Promoter Score® (NPS).
Trends in Multi-Bank Account Ownership
in 2023
Figure 4
One
Two to Three
Six & Above
Four to Five
Tier 03Tier 01
Best Overall
53.2
%
2022
48.2
%
8.2
%
2022
5.8
%
1.2
%
2022
0.7
%
37.4
%
2022
45.3
%
05 KENYA BANKERS ASSOCIATION
The results show that the respondents had an overwhelmingly positive view of their banks’
customer experience.Ninety-six (96.9) percent of the respondents rated their experience with
their banks above three (3). For instance, 49.7 percent of the respondents rated their experience
with their main banks at five (5), the highest rating. In addition, 37.2 percent rated it at four (4) and
10 percent rated their customer experience at three (3).
The digital channel has become
increasingly important in the banking
industry, with mobile banking being the
most preferred channel among customers.
Internet/online banking is the second most
preferred channel at 24.6 percent, a slight
uptick compared to the 23.3 percent
preference in 2022. Due to higher digital
adoption, customers are visiting branches
less with its preference coming third at
19.6 percent; its preferences are coming
back as they stood at 17.6 percent in 2022.
Similarly, the preference for ATM stood at
17.7 percent making it the fourth preferred
channel.
Banking Channel
Preference
04
Customers’ Rating of Banks Customer Experience
Figure 5
HighestLow
10%1.7%1.4% 49.7%37.2%
96.9
%
positive responses
above 3 on a 1-5 scale
96.5
%
2022
Digital channels continue to be the dominant
banking channels preferred by customers
Figure 6
Mobile Banking
Internet/ Online Banking
Bank Branch
ATM
Card Payments (Online/ Point of Sale)
Bank Agent/ Agency Banking
Cash Depositor Machines
69.9
%
2022
67.8
%
24.6
%
2022
23.3
%
19.6
%
2022
17.6
%
17.7
%
2022
16.9
%
7.1
%
2022
6.1
%
6.9
%
2022
6.1
%
2.8
%
2022
2.1
%
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 06
1. CBK Annual Bank Supervision Report 2022
https://www.centralbank.go.ke/uploads/banking_sector_annual_reports/1376276635_2022%20Annual%20Report.pdf
On the other hand, card payments (online/ point of sale) preference stood at 7.1 percent while
agency banking preference among customers stood at 6.90 percent. This compares to the 2022
trends where agency banking and card payments or touchpoints came preference were both at
6.1 percent.
The least preferred channel is cash deposit machines at 2.77 percent, perhaps due to their
limited penetration which is a slight increase from the 2.0 percent registered in 2022. As banks
pursue digital adoption to improve efficiency and customer experience, they must navigate
evolving customer preferences for different channels for different needs. However, short of
implementing every possible support channel, banks typically have to prioritize which channels
they can offer, as customers' service channel preferences have to be informed by the unique
characteristics of their specific customers, which requires data-driven decisions about which
channels to support.
Over the years, preference for self-service
channels has been on the rise. In 2023, 45.7
percent preferred fully automated /
self-service (including mobile, internet,
chatbots) when asked to choose their
banking service channel preferences.
The physical branch still plays a vital role
with 16.5 percent choosing human-assisted
service (including call centers and branches),
and 37.9 percent are indifferent between
them. This trend in preference seems
sustained over the years as in 2022, 45.6
percent preferred fully automated /
self-service, 15.5 percent of the respondents
preferred human-assisted service (including
Call Centers and Branches), and 38.9 percent
in 2022 were indifferent.
Preferred Mode of
Interaction in Accessing
Banking Services
05
2. Promoters are respondents who answer with a 9 or 10 and are the most loyal of customers whose enthusiasm for the
bank translates into actual recommendations to family and friends.
3. Passives are respondents who answer with a 7 or 8, are largely indifferent, and therefore are disinclined to share either
negative or positive reviews with others.
4. Detractors are those respondents who answer the question with a 6 or lower; these respondents are unsatisfied
customers who could actively harm the bank's brand by making their complaints public.
5. In the 2023 survey, respondents were asked the question, "On a scale of 0-10, with 10 being the highest, what is the
likelihood that you would recommend us (our bank) to a friend or colleague?" whose response was used to compute the
Net Promoter Score® (NPS).
Fully Automated / Self-service
(including Mobile, Internet, Chatbots)
Either is fine
Human-Assisted Service
(including Call Centers and Branches)
Preferred Mode of Interaction when Accessing
Banking Services
Figure 7
2022
45.6
%
2022
38.9
%
2022
15.5
%
45.7
%
37.9
%
16.5
%
07 KENYA BANKERS ASSOCIATION
75.4
%
87.8
%
12.3
%
2022
13.8
%
2022
86.2
%
2022
6.5
%
24.6
%
2022
29.6
%
2022
93.5
%
2022
70.1
%
Banking services should be accessible to all
customers including those with special
needs.
From the 2023 survey, 12.3 percent of the
respondents required unique
accommodation (e.g., braille, ramp, screen
reader, voiced aid) to access banking
services. This is slightly lower than the 13.8
percent of the respondents in the 2022
survey. Of the respondents who required
unique accommodation, 93.5 percent could
independently use banking services, a trend
sustained from the 2022 survey.
Further, out of the 6.5 percent in 2023 that
could not independently access the banking
services either on mobile or online banking,
75.4 percent of them 75.4% of them had no
intention of switching banks while 24.6%
said they were likely to switch. This is an
improvement. This is an improvement
compared to the 2022 survey where 29.9
percent had indicated their intention to
switch banks due to their inability to access
their banking services independently.
Overall, this demonstrates the commitment
of the banking industry to improve financial
services and ensure the inclusion of all
customers regardless of their conditions,
which aligns with the industry's commitment
to making banking work for everyone as
envisioned in the report on "A Roadmap for
Digital Accessibility and Financial Inclusion of
People with Disabilities.”
Access to Bank Services for Persons
with Special Needs
06
Able to use the banking sevices independently
(e.g. mobile banking and online banking independently)
Access to bank services for Persons with Special Needs
Figure 8
Intent to switch to another bank that provides you with
accessible services independently
noyes
6.5
%
93.5
%
Need special accommodation to access banking services
(e.g. braille, ramp, screen, reader, voiced aid)
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 08
1. CBK Annual Bank Supervision Report 2022
https://www.centralbank.go.ke/uploads/banking_sector_annual_reports/1376276635_2022%20Annual%20Report.pdf
Customer centricity is a foundational principle that
underscores an institution’s ethos, placing the needs and
preferences of our customers at the forefront of our business
strategy.
A customer-centric approach not only fosters loyalty but
also contributes to an institution's long-term success;
therefore, the customer complaint resolution process serves
as a crucial component of commitment to excellence.
According to the 2023 survey, 66.4 percent report that
complaints are always responded to within two days
compared to 68.9 percent response in the 2022 survey. Some
25.6 percent report that complaints are sometimes resolved,
while 4.9 percent indicate that they are responded to and a
marginal 3.1 percent indicate that they are never resolved.
A customer-centric
approach not only
fosters loyalty but
also contributes to
an institution's
long-term success.
Customer
complaint
resolution process
serves as a crucial
component of
commitment to
excellence.
Complaint Resolution Rate
07
2. Promoters are respondents who answer with a 9 or 10 and are the most loyal of customers whose enthusiasm for the
bank translates into actual recommendations to family and friends.
3. Passives are respondents who answer with a 7 or 8, are largely indifferent, and therefore are disinclined to share either
negative or positive reviews with others.
4. Detractors are those respondents who answer the question with a 6 or lower; these respondents are unsatisfied
customers who could actively harm the bank's brand by making their complaints public.
5. In the 2023 survey, respondents were asked the question, "On a scale of 0-10, with 10 being the highest, what is the
likelihood that you would recommend us (our bank) to a friend or colleague?" whose response was used to compute the
Net Promoter Score® (NPS).
Customer Complaint Resolution
Figure 9
Always
Sometimes
Rarely
Never
66.4
%
2022
68.9
%
25.6
%
2022
23.5
%
4.9
%
2022
4.49
%
3.1
%
2022
3.05
%
09 KENYA BANKERS ASSOCIATION
08
Detractor
Passive
Promoter
38
In an increasingly competitive banking climate, customer
loyalty is more important than ever, and the Net Promoter
Score (NPS) provides valuable insights into customer
satisfaction and loyalty. As a result, as banks continue to
face increased competition among each other and from
emerging FinTechs, the need for customer retention and
acquisition, that is, the ability of its customers to recommend
it to their close associates, has become so important.
Industry Net Promoter Score
Net promoter score of the banking industry
Figure 10
Passive 28.1
%
Detractor 17.1
%
Promoter 54.8
%
Banks continue to face
increased competition
among each other and
from emerging
FinTechs, the need for
customer retention
and acquisition, that is,
the ability of its
customers to
recommend it to their
close associates, has
become so important.
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 10
1. CBK Annual Bank Supervision Report 2022
https://www.centralbank.go.ke/uploads/banking_sector_annual_reports/1376276635_2022%20Annual%20Report.pdf
2. Promoters are respondents who answer with a 9 or 10 and are the most loyal of customers whose enthusiasm for the
bank translates into actual recommendations to family and friends.
3. Passives are respondents who answer with a 7 or 8, are largely indifferent, and therefore are disinclined to share either
negative or positive reviews with others.
4. Detractors are those respondents who answer the question with a 6 or lower; these respondents are unsatisfied
customers who could actively harm the bank's brand by making their complaints public.
5. In the 2023 survey, respondents were asked the question, "On a scale of 0-10, with 10 being the highest, what is the
likelihood that you would recommend us (our bank) to a friend or colleague?" whose response was used to compute the
Net Promoter Score® (NPS).
Based on the responses obtained, 54.8 percent of the
respondents are promoters.
2
Compared to 55.8 percent in
2022. On the other hand, 17.1 percent of the respondents
are passive
3
Compared to 27.5 percent in 2022. Lastly, in
2023, 17.1 percent of the respondents can be considered
detractors
4
Compared to 16.7 percent in 2022. Based on
these numbers, the 2023 banking industry NPS score stood
at 38 compared.
Given these trends, the industry's standing, especially from
a promoter’s standpoint, is impressive, as research shows
that the lifetime value of a promoter is 2.5 times higher than
that of a detractor. In contrast, detractors are 2.3 times more
likely to switch to another financial organization than
promoters. More importantly, research has shown that a
higher net promoter score (NPS) correlates positively with
revenue. For instance, according to a study published by the
London School of Economics entitled "Advocacy Drives
Growth", an average NPS increase of 7 percent correlates
with a 1 percent growth in revenue.
However, there are various areas that require improvement,
including improvements in leveraging on assistive
technologies to ensure independent access to banking
services for Persons with Disabilities (PWDs). Although the
industry’s score on access to banking services to this
important segment of the banking population is impressive
(87.8 percent), more interventions are required to enable
Persons with Disability to access banking services without
involvement of a third party.
More interventions
are required to
enable Persons with
Disability to access
banking services
without involvement
of a third party.
The industry's
standing, especially
from a promoter’s
standpoint, is
impressive, as
research shows that
the lifetime value of
a promoter is 2.5
times higher than
that of a detractor.
11 KENYA BANKERS ASSOCIATION
Appendix
09
Nairobi
Kiambu
Mombasa
Nakuru
Kisumu
Meru
Uasin Gishu
Kajiado
Machakos
Kakamega
Kisii
Bungoma
Kilifi
Nyeri
Kericho
Trans-Nzoia
Homa Bay
Laikipia
Migori
Murang'a
Busia
Embu
Kitui
Kirinyaga
44.54%
6.22%
5.68%
4.08%
3.48%
3.07%
3.03%
2.49%
2.23%
1.63%
1.57%
1.52%
1.44%
1.42%
1.17%
1.09%
1.08%
1.03%
0.92%
0.86%
0.86%
0.83%
0.79%
0.76%
County Proportion of total responses
Narok
Makueni
Siaya
Kwale
Nandi
Bomet
Nyandarua
Tharaka-Nithi
Taita–Taveta
Vihiga
Isiolo
Nyamira
Turkana
Garissa
Baringo
Lamu
Marsabit
West Pokot
Elgeyo-Marakwet
Samburu
Tana River
Wajir
Mandera
0.73%
0.72%
0.72%
0.71%
0.71%
0.59%
0.47%
0.45%
0.44%
0.37%
0.30%
0.30%
0.27%
0.21%
0.21%
0.17%
0.15%
0.15%
0.15%
0.11%
0.10%
0.10%
0.05%
County Proportion of total responses
BANKING INDUSTRY CUSTOMER SATISFACTION SURVEY 2023 12
The Kenya Bankers Association wishes to express its sincere gratitude to
the KBA Customer Service Working Group for playing an important role in
conceptualizing the research upon which this Survey is based. We extend
gratitude to the KBA member banks for sharing the survey across
platforms. We gratefully acknowledge the thousands of bank customers
across the country who continue to provide feedback since the Survey’s
inception in 2018. Data review, analysis and compilation of the report was
led by Palm Consulting Services, supported by Josea Kiplangat,
supported by Christine Onyango, and Hesborn Nyakundi-Nyagaka from
the KBA Secretariat. It has been designed by Sabinga Brand Design Ltd.
Acknowledgements
13 KENYA BANKERS ASSOCIATION
www.kba.co.ke
