The COVID-19 pandemic has dramatically altered customer behaviors, accelerating existing trends and introducing new ones as people adapt to a changed world. Over just a few months, customers have shifted their values, beliefs, and needs in profound ways. Our research highlights a significant trend in the Nigerian banking sector: customers are increasingly comfortable using digital channels for their banking activities, spending less of their income, and demanding greater security for their digital transactions. This shift marks the emergence of a new customer profile—one that is financially cautious, tech-savvy, and well-informed.

In this evolving landscape, the concept of Customer Experience has become more critical than ever. Some banks have managed to excel in this area, adapting swiftly to the challenges posed by the pandemic. Our 14th consecutive Banking Industry Customer Experience Survey reveals an improvement in overall customer experience performance in two out of three broad segments. Leading banks have demonstrated a keen focus on what matters most to customers during these uncertain times, showing a unique preparedness to navigate the disruptions caused by COVID-19.

The Six Pillars of Experience Excellence—essential qualities required for delivering outstanding customer interactions and fostering loyalty—have become increasingly relevant. These pillars guide banks in creating a superior Customer Experience by ensuring consistent and high-quality service. However, this year’s survey indicates that the pillars of Resolution and Personalization have underperformed. This shortfall reflects the difficulties banks have faced in resolving problems and delivering personalized experiences, particularly as many customers have increased their use of contact centers and digital channels.

The banks that will emerge successfully in this new reality will be those that understand the evolving nature of the customer and can adapt rapidly to immediate disruptions. A deep comprehension of the new customer profile, combined with a commitment to enhancing Customer Experience » , will be key to achieving higher performance and customer satisfaction.

We encourage you to delve into the findings of our research detailed in this report. For further information or inquiries, please contact us.

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