SBM Bank Wins ‘Best Bank for Customer Experience’ Award from Global Brands Awards

In a year where customer-centricity has taken center stage, SBM Bank Kenya is proud to announce that we have been recognized as the ‘Best Bank for Customer Experience’ at the prestigious Global Brands Awards. This accolade stands as a testament to our unwavering commitment to delivering unparalleled banking solutions, creating customer-driven products, and continuously enhancing service efficiency. At SBM Bank, we have always believed that true banking excellence lies not just in numbers, but in the quality of interactions we maintain with our customers, their overall satisfaction and the tangible value we provide.  This win is not just an accolade for us, but for our esteemed customers whose trust and loyalty inspire us to innovate and improve continuously.

Nyambura Ndung'u, Head of Customer Experience (row two, right) in a group photo with the contact centre team at SBM Bank Kenya in celebration of the recognition by Global Brands Magazine for the 'Best Bank for Customer Experience 2024’ Award category.

Customer led Innovations

At the heart of this award-winning experience is the Mfukoni platform. As the digital landscape continues to evolve, SBM Bank has taken bold steps to ensure that our customers transact with ease, speed, and security. We have upgraded the Mfukoni platform to enable our customers to access a wide array of services from checking account balances, transferring funds, paying bills, to accessing financial insights—all from their mobile devices.  We take cognizance of the current need for a responsive, convenient saving solution. Our Platinum Saver Account addresses this gap with an impressive 11% per annum interest paid monthly for deposits of Ksh 100,000 and above. What’s more, we have made it easier for customers to open and manage this account on the Mfukoni mobile and online platforms.

Our customers with Forex needs have also been catered to in the Mfukoni upgrade. Competitive Forex rates are available on the platform and the contact for our treasury team are provided for negotiation. This solution has come in handy for our customers involved in the cross-border trade business, enabling them to trade on the go and seamlessly.  

Moreover, the integration of enhanced security features ensures that while the experience is easy and fast, it is also secure. In an era where data breaches and cyber threats are on the rise, SBM Bank has invested in the most advanced security protocols to protect customer data and financial transactions. This digital transformation initiative is a testament to SBM’s forward-thinking approach in meeting evolving customer expectations while maintaining the integrity and trust we have built over the years.

Commitment to Sustainability and Corporate Social Responsibility

Beyond offering innovative banking solutions, SBM Bank is deeply committed to making a positive impact on the environment and the communities we serve.  From adopting eco-friendly banking practices to supporting projects that address climate change, SBM Bank is focused on reducing our environmental footprint. Key initiatives in this regard are the turtle conservation at our Kenyan coast, tree planting, empowerment of women in business and the Sustainable debit card.  We are cognizant of the fact that customers are conscious on conserving the environment and we embrace sustainability as a key focus.  

Exceeding Customer Expectations: Outstanding CSAT and Low Customer Effort Scores

Customer Centricity is a core value we uphold and we consciously put the customer at the center of everything we do. A key demonstration of this is the personalized approach we deploy in our customer engagements. We actively listen to our voice of the customer (VoC) and incorporating their feedback, needs to ensure we are co-creating the customer experience and banking solutions with our customers.

Our commitment to a positive Customer Experience begins with attentive listening.  Through our customer surveys, feedback channels and relationship management teams, we regularly collect insights from our customers on their banking experience and needs. These surveys cover various touchpoints, from product experience to customer service interactions. We also have a dedicated team monitoring our social media platforms to understand sentiment, identify pain points, and address concerns promptly. The customer insights serve as a point of reference in our strategy, product development, innovation and operations. The customer represents the common point of focus and our collective interest is to delight them.

This passion for our customers has earned us a high Customer Satisfaction (CSAT) score of 88%, well above the industry benchmark of 80%. This achievement reflects our customer-first philosophy, where every interaction—whether in person, online, or via mobile—is an opportunity to exceed expectations. Our high CSAT score is a direct result of our focus on personalized service, efficient problem resolution, and consistent communication. We believe that listening to our customers and acting on their feedback is key to enhancing the overall banking experience. Whether it's resolving a service issue or launching a new product feature, SBM Bank actively engages with customers to ensure their needs are met and that their expectations are exceeded.

Furthermore, we realized a 93%, score on the Customer Effort Score (CES) which is significantly higher than the industry average of 85%. This low customer effort score reinforces the ease of doing business with SBM Bank. We understand that customers value not just the quality of the service, but the convenience and effortlessness of accessing those services. Whether it’s applying for a loan, setting up a new account, or conducting day-to-day transactions, we have streamlined our processes to ensure minimal friction. Our upgraded digital channels, simplified forms, and responsive customer support teams work together to reduce the time and effort customers need to manage their finances.

Looking Ahead: Continuing to Raise the Bar for Customer Experience

This award is not just a milestone, but a stepping-stone in SBM Bank’s continuous journey toward redefining customer experience. While we celebrate this recognition, we remain committed to innovating and evolving to meet the changing needs of our customers. Whether it’s through further enhancements to our digital platforms, new product offerings or deeper engagement in sustainability initiatives, SBM Bank is dedicated to pushing the boundaries of what exceptional customer experience means.

As we look to the future, SBM Bank will continue to place our customers at the center of everything we do. With a strong foundation of trust, innovation, and service excellence, we are poised to set new benchmarks in banking, not just in Kenya, but across the region.

In conclusion, the ‘Best Bank for Customer Experience’ award from Global Brands Awards is a tribute to our customers, our team, and our relentless pursuit of excellence. SBM Bank is proud to lead the way in delivering customer-first banking solutions that empower individuals, businesses, and communities to thrive