The Chartered Institute of Marketing, Ghana (CIMG) has unveiled its third Ghana Customer Satisfaction Index (CSI) Report for the banking sector.
The event was attended by high-profile individuals in the financial sector, including the Chief Executive Officer of the Chartered Institute of Bankers, Mr. Robert Dzato and Dr. Kwasi Osei-Yeboah, Head of the Financial Stability Department at the Bank of Ghana.
In his welcome address, the National President of CIMG, Dr. D. Kasser Tee, highlighted the significance of the report, which reflects the sentiments, trust and expectations of Ghanaian customers.
“This report is more than just a study of the state of service quality in banking. It reflects the voices, sentiments, and trust of Ghanaians whose lives are impacted by the services offered by banks,” Dr Tee emphasized.
Dr Tee acknowledged the tremendous changes within the banking sector, including regulatory reforms and digital transformation, but stressed that customer satisfaction remained the constant priority.
“One thing has remained and will continue to remain constant – customer satisfaction, which is often derived from service quality, among other drivers.”
The 2023 CSI report, compiled by the CIMG-Ghana Association of Banks (GAB) Technical Committee, focused on three essential constructs: service quality, customer satisfaction and customer loyalty.
Dr Tee underlined that service quality should be taken seriously by service providers. He urged regulatory bodies to ensure banks meet minimum service standards, adding that poor service quality should not be tolerated.
“It is just not acceptable for service providers to be in the 1-star or 2-star category for service quality. This is because service quality is today considered a rights issue, where there is legislation governing it for some industries,” he stated.
Dr Tee also highlighted the report’s strategic importance for the banking sector, offering valuable insights into the evolving needs of customers and providing banks with a benchmark for assessing and improving their performance.
He noted, “The true value of this study lies in the benefits it brings to banks and customers. The report provides valuable insights that can help guide the strategic direction of banks, enabling them to better serve their customers and foster stronger relationships based on trust, transparency, and satisfaction.”
He expressed gratitude to the participating banks, the research team, and especially the customers who contributed their feedback.
“We are eternally grateful to the Ghana Association of Banks for agreeing for their members to open themselves for scrutiny. This is ample evidence that banks in Ghana do not believe in mediocrity,” he remarked.
During the event, several banks were recognized for their exceptional performance in delivering customer satisfaction.
Dr Tee stressed the importance of celebrating these achievements, noting that it would inspire other institutions to prioritise customer-centric approaches. “Celebrating these achievements not only inspires other institutions to follow suit, but also emphasizes the importance of a customer-centric approach to banking,” he said.
As Ghana enters its annual Customer Service Week, Dr Tee encouraged banks to use the findings of the report to improve their services and performance. He also acknowledged the media’s role in spreading vital information to the public, stating, “It is my hope that this report will serve as a catalyst for positive change in the banking industry of Ghana.”
