As consumers are increasing the demand for convenient, on-demand services in every industry, the financial sector must be on their toes brainstorming on even better ways to meet their own expectations and the need to consider the ease and convenience of their services as compared to competitors.

When consumers were referencing service provision, ‘convenience’ was discussed much more frequently than other factors such as security – with only temporary bursts of conversations about security and safety occurring directly following various security breaches or data hacks. The study found that when discussing financial services, consumers mention ‘convenience’ six times more often than they do ‘security.

Additionally, in this day and age, online platforms such as digital banking and mobile money are more positively discussed than non- online experiences.

The effect of mobile money and banking on customer sentiment is apparent when looking at the variations in perception. It’s expected that when consumers reference banking experiences of any kind, the conversations would generally be more negative due to how not so convenient these banks are as compared to services such as mobile money..

However, there is a stark difference when customers are discussing about electronic services using mobile phones and web apps.

key insights into what bank customers need and expect from banking interactions:

Nearly 60% of complaints about banks online are about non-digital experiences like bank visits and phone calls with customers frequently complaining about negative banker interactions and extremely long wait times.

When a consumer gets into a bank, they expect to get the quickest attention and have their needs met in the shortest time possible which is not normally the case for physical banking.

Online banking on the other hand has received considerable positive review from many clients in Africa due to the way that it brings convenience to banking from anywhere in they may be.

Mobile money

Africa has taken on this particularly mode of handling finances with fondness due to its simplicity and the fact that you do not necessarily need to have internet connectivity for one to access this. Meaning that it encompasses even those in the most remote areas.

Businesses coming to Africa and how they can benefit from these two payment powerhouses

Dusupay allows businesses willing to accept payments and pay out to Africa to access payments from both platforms at a go and without the hustle of having to join each and every bank and mobile money platform there is.

Through Dusupay, all you have to do is incorporate it on your platform and let Dusupay collect the funds from Africa’s banking and mobile money options. All you have to do is sit and wait to receive the money at the convenience of your business.

Reuben Kihumuro

Author Reuben Kihumuro

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