Nigeria financial institution Wema Bank has been honoured for supporting the growth and development of Small and Medium Enterprises (SMEs) in the 2021 KPMG Nigeria Banking Industry Customer Experience Survey.
The KPMG Nigeria Banking Industry Customer Experience Survey has been held annually for the last 15 years with the 2021 edition themed "Changing Customer, Changing Priorities".
According to the report, Wema Bank ranks number three in SME Banking, this is three places higher than the bank’s 2020 classification.
Wema Bank has initiated several financial and advisory support programs to boost SMEs, some of which include 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 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 the Frankfurt School of Finance and Management, Germany, has reputable consultants and organizations such as Ernst & Young, MTN, Microsoft, Google, Agusto, etc. facilitating the programme.
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.
“At Wema Bank, we recognize SMEs as an important part of the economy, and we are always on the lookout for their well-being. We are happy that the SMEs acknowledge our contributions, hence our ranking.”
Speaking further, he stated that recognitions such as this are an invitation to do more. He, therefore, gave the bank’s unwavering commitment to intensifying its support to SMEs in the year 2022.
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