TechCentralTechCentral
    Facebook Twitter YouTube LinkedIn
    Facebook Twitter LinkedIn YouTube
    TechCentral TechCentral
    NEWSLETTER
    • News

      Everything PC S01E02 – ‘AMD: Ryzen from the dead – part 2’

      17 May 2022

      Elon Musk is becoming like Henry Ford – and that’s not a good thing

      17 May 2022

      WhatsApp Premium: new subscription plan in development

      17 May 2022

      Pick n Pay partners with Takealot in online shopping push

      17 May 2022

      Fibre break knocks out Telkom’s network

      17 May 2022
    • World

      Musk tells Twitter: prove your bot claims, or the deal is off

      17 May 2022

      Intel shareholders reject pay packages for top executives

      17 May 2022

      Musk hints at reduced offer price for Twitter

      17 May 2022

      SpaceX gets $125-billion valuation in private placement

      17 May 2022

      Crypto’s wild week offers a much-needed warning

      16 May 2022
    • In-depth

      Stablecoins wend wobbly way into the unknown

      17 May 2022

      The standard model of particle physics may be broken

      11 May 2022

      Meet Jared Birchall, Elon Musk’s personal ‘fixer’

      6 May 2022

      Twitter takeover was brash and fast, with Musk calling the shots

      26 April 2022

      Musk wants free speech on Twitter but spent years silencing critics

      21 April 2022
    • Podcasts

      Everything PC S01E01 – ‘AMD: Ryzen from the dead – part 1’

      10 May 2022

      Llew Claasen on how exchange controls are harming SA tech start-ups

      2 May 2022

      The inside scoop on OVEX’s big expansion plans

      20 April 2022

      Decentralised finance, the ‘end of banks’ – and what comes next

      25 March 2022

      Maxtec and BigFix: helping stop cyberattackers in their tracks

      18 March 2022
    • Opinion

      From spectrum to roads, why fixing SA’s problems is an uphill battle

      19 April 2022

      How AI is being deployed in the fight against cybercriminals

      8 April 2022

      Cash is still king … but not for much longer

      31 March 2022

      Icasa on the role of TV white spaces and dynamic spectrum access

      31 March 2022

      Minister Ntshavheni is at risk of tripping up

      24 March 2022
    • Company Hubs
      • 1-grid
      • Altron Document Solutions
      • Amplitude
      • Atvance Intellect
      • Axiz
      • BOATech
      • CallMiner
      • Digital Generation
      • E4
      • ESET
      • Euphoria Telecom
      • IBM
      • Kyocera Document Solutions
      • Microsoft
      • Nutanix
      • One Trust
      • Pinnacle
      • Skybox Security
      • SkyWire
      • Videri Digital
      • Zendesk
    • Sections
      • Banking
      • Broadcasting and Media
      • Cloud computing
      • Consumer electronics
      • Cryptocurrencies
      • Education and skills
      • Energy
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Motoring and transport
      • Public sector
      • Science
      • Social media
      • Talent and leadership
      • Telecoms
    • Advertise
    TechCentralTechCentral
    Home»News»SA’s best banks at social media

    SA’s best banks at social media

    News By Agency Staff6 August 2015
    Facebook Twitter LinkedIn WhatsApp Telegram Email

    social-media-640

    Capitec came out tops for its social media performance among South Africa’s banks, according to the 2014/2015 Ubiquity Social Intelligence Report released on Wednesday.

    Capitec was also the only bank to receive a net positive opinion on social media.

    “Capitec Bank embraced social media as a tool to engage and build relationships with our clients, based on mutual respect,” said Capitec spokesman Charl Nel.

    “Our approach is to grow our social communities in an organic and non-intrusive manner. We know our place and we can translate that into the way we communicate with our clients. We also don’t buy subscribers, but allow our social communities to grow organically.”

    Capitec customers did indicate, however, that if they were to leave Capitec, it would be because of issues relating to credit.

    The report found Nedbank to be South Africa’s worst bank on social media.

    According to Ubiquity, traditionally there’s a widely held belief that consumers will more readily complain and express negative opinions towards companies and brand, as oppose to complimenting and expressing positive opinions.

    Ubiquity pointed out that this is not necessarily true in a digital age, as people will share thoughts, opinions and experience, whether positive or negative, especially if incentivised to do so.

    “While one would expect South Africans to express an overwhelming negative opinion towards banking fees and costs, this is not the case. South Africans have responded positively to efforts by banks to reduce costs (or provide better value) and promote savings,” said Ubiquity.

    Credit was found to be the top retail banking issue driving opinions about banks on social media, followed by customer service, costs and savings.

    Opinions are more positive towards Absa and Capitec regarding credit. Absa is the only bank to score a net positive opinion on credit-related issues, while opinions are steadily turning more negative on the remaining three banks, according to the report.

    The market is extremely opinionated on social media about customer service by banks, which it reflects has consistently having deteriorated over the past three quarters and overtaking banking fees and costs as the second major issue.

    All of South Africa’s banks — with the exception of Capitec — seem to be failing customers regarding customer service.

    Overall, more than half of all social data was neutral about banking fees. Opinions are only slightly more negative than positive about banking fees after efforts by banks to reduce costs, while the market had a net overall positive opinion about banks’ efforts to promote savings.

    Customers complain regularly on social media about transactional banking fees relating to issues like reversing unauthorised debit order charges.

    Opinions are most negative towards Nedbank and First National Bank around banking fees and costs, while Capitec leads the way.

    The report also found that FNB customers engage more on social media than any other bank and more prospective customers are looking into FNB than any other bank. At the same time FNB receives more negative recommendations than any other bank, closely followed by Standard Bank and Absa.

    Absa and FNB have the highest proportion of customers indicating their intention to leave. Absa customers are indicating they are likely to leave because of costs, credit and issues relating to savings.

    On savings Absa, Nedbank and Capitec all score a net positive rating. Opinions are turning more negative, while FNB and Standard Bank lag.

    There is a positive bias among women and a negative gender bias toward Absa. Proportionately, women engage more regarding credit and customer service, while males engage proportionately more on credit.

    There is no gender bias toward Capitec. Males engage proportionately more regarding costs, while women engage more regarding credit.

    There is no gender bias toward FNB. Women engage proportionately less regarding credit and more regarding costs, when compared with men.

    There is a negative gender (women) bias toward Nedbank. Women engage proportionately less regarding costs and more regarding customer service and savings, when compared with men.

    There is no significant gender bias toward Standard Bank, however women engage proportionately less regarding costs and more regarding customer service, when compared with men.  — Fin24

    Absa Capitec FNB Nedbank Standard Bank
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email
    Previous ArticleMTN mulls opening mobile network to rivals
    Next Article The world’s richest tech billionaires

    Related Posts

    Everything PC S01E02 – ‘AMD: Ryzen from the dead – part 2’

    17 May 2022

    Elon Musk is becoming like Henry Ford – and that’s not a good thing

    17 May 2022

    WhatsApp Premium: new subscription plan in development

    17 May 2022
    Add A Comment

    Comments are closed.

    Promoted

    Detect and prioritise cloud security risks in minutes, not months

    17 May 2022

    Eye on the future: an interview with PureSoftware CTO Tushar Bhatkar

    17 May 2022

    Accelerating test automation

    16 May 2022
    Opinion

    From spectrum to roads, why fixing SA’s problems is an uphill battle

    19 April 2022

    How AI is being deployed in the fight against cybercriminals

    8 April 2022

    Cash is still king … but not for much longer

    31 March 2022

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2022 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.