Michael Abbiw
President of the Chartered Institute of Marketing, Ghana (CIMG), Michael Abbiw, has urged banking institutions in the country to demonstrate through tangible actions that customer experience is central to their strategy.
Speaking at the launch of the Ghana Customer Satisfaction Index (GH-CSI) 2024 Report for the banking sector, Mr. Abbiw noted that the index serves as a mirror reflecting the true state of customer experience at various banks.
He explained that the country’s banking industry has undergone profound transformation, from rigorous regulatory reforms that strengthened governance and financial stability to the rapid adoption of technology and digital solutions. The sector, he said, has shown dynamism and resilience.
“Yet, amidst all these changes, one truth remains constant. Customer satisfaction is the bedrock of sustainable banking. It is not a by-product of success. It is the currency of trust and loyalty in today’s highly competitive financial market,” Mr. Abbiw stated.
He stated that the study focused on three interrelated pillars essential to banking success – Service Quality, Customer Satisfaction, and Customer Loyalty.
“Service quality is no longer simply a competitive advantage; it is a consumer right, increasingly protected by legislation across industries worldwide,” he said.
“Bringing this level of excellence to Ghana is not just a goal; it is our commitment and our aspiration. I charge every bank represented here tonight to view this report not as a mere recommendation, but as a mandate to raise service quality across the sector,” he stressed.
Representative of the Governor of the Bank of Ghana, Franklin Belnye, noted that banks continue to face significant challenges in improving customer satisfaction despite ongoing efforts.
He explained that customers expect prompt service and personalized attention, which some institutions struggle to provide consistently.
“Some customers still face difficulties adapting to emerging technological advances such as mobile apps, USSD codes, or internet banking platforms effectively,” he said.
Mr. Belnye emphasized that the Bank of Ghana recognizes the critical role customers play in the functioning of the banking sector. “Indeed, customers are at the heart of banking services, and their confidence and trust in the banking system is paramount to the safety, soundness, and stability of the financial system, leading to growth in the real economy,” he noted.
He added that the GH-CSI report measures how well the banking industry is meeting customer needs by assessing performance in service quality, satisfaction, and loyalty across both consumer and business segments.
“By tracking annual scores and comparing them over time, the report highlights progress and areas for improvement. It also offers comparative insights, helping banks and stakeholders understand their position relative to peers and identify strategic opportunities,” he explained.
BY Prince Fiifi Yorke