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Business News of Friday, 14 January 2022

Source: www.sunnewsonline.com

KPMG ranks Wema Bank among customer experience leaders

Wema Bank Wema Bank

The support of Nigeria’s leading digitally driven financial institution, Wema Bank for Small and Medium Enterprises (SMEs) has been recognized in the 2021 KPMG Nigeria Banking Industry Customer Experience Survey.

The report classifies Wema Bank as number three in SME Banking, this is three-places higher than the bank’s 2020 classification.

Wema Bank has been consistent in its drive to support the growth and development of SMEs in the country. The bank has initiated several financial and advisory support programs to boost SMEs, some of which included; single digit loans for women, uncollateralized loans for SMEs, quarterly SME webinars, access-to-market initiatives, and a plethora of other advisory and support services.

In the last one year, Wema Bank pioneered the establishment of the first bank-led SME business school in the country, aimed at boosting critical knowledge and capabilities for SMEs at no cost to beneficiaries. The business school which enjoys the support of Frankfurt School of Finance and Management, Germany, has reputable consultants and organizations such as Ernst & Young, MTN, Microsoft, Google, Agusto among others to facilitate at the program.

The KPMG survey ranked banks using the six pillars of customer experience excellence, including integrity (being trustworthy and engendering trust), resolution (turning a poor experience into a great one) and expectations (managing, meeting and exceeding customer’s expectations. The others were empathy (understanding the customer’s circumstances to drive deep rapport), personalization (using individualized attention to drive emotional connection) and time and effort (minimizing customer effort and creating frictionless processes).

In a statement on the survey report, KPMG said, “This year’s leaders show digital banking excellence and have adapted well to higher transaction volumes and complaints.”

Commenting on the bank’s KPMG ranking, the Managing Director/CEO, Wema Bank, Ademola Adebise, said it was an affirmation of the bank’s commitment to the growth and well-being of SMEs as critical contributors to the economy.