85 per cent of banks are challenged on boarding customers digitally ― KPMG

KPMG, one of the big four professional services firms has said that 85 per cent of banks are challenged on boarding customers digitally.

Partner & Lead, Digital Transformation, KPMG in Africa, Boye Ademola made this known while delivering key insights on the KPMG Digital Channels Scorecard held yesterday via Zoom.

Boye noted that banks across the world have taken a compliance-centric approach to avoid the risk around KYC and identity theft which is the predicament facing the banks in the country.

He explained that the coronavirus pandemic necessitated the emphasis on digitalization across businesses as expounded by a review of 17 retail banks in Nigeria.

“We discovered that 85 per cent of banks are challenged on boarding customers digitally.

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“Touching on the integrity of the process of the digitalization, banks have taken a compliance-centric approach to avoid the inherent risk around KYC and identity theft.

“We have also seen a couple of banks deployed technology that can mitigate the risk of identity theft.

“COVID-19 has necessitated the need to access digital across businesses.

“In other words, businesses have to be able to run their transactions completely via digital channels.

“This is expounded by a review of 17 retail banks in Nigeria” Boye noted.

Speaking also, Partner, Strategy and Customer Experience, KPMG in Nigeria, Ngozi Chidozie, who was a panellist on the session themed ‘Connected Enterprise (Customer Centricity and the Enterprise)’ stated that the KPMG Digital Channels Scorecard really emphasized the importance of employing insight-driven strategies and actions, not only in retail banking but across all sectors.

Technology Advisory Partner, KPMG in Nigeria, Joseph Tegbe described the scorecard as the company’s continued contribution to driving a sustained focus on customer experience improvement.

Tegbe noted that the company collated findings from a review into the Digital Channels Scorecard report which provides in-depth analysis and recommendations.

“This is an inaugural edition of the publication.

“As part of our continued contribution to driving a sustained focus on customer experience improvement.

“KPMG has collated findings from our review into the Digital Channels Scorecard report which provides in-depth analysis and recommendations” Tegbe stated.

Earlier Speaking, In his welcome address earlier, The Senior Partner and Chairman, KPMG Africa, Kunle Elebute stated that the debut scorecard provides great insights on how organizations can leverage on customer-centric experience to create and capture transmission value.

The webinar featured technology leaders like Bode Abifarin, CEO, Flutterwave; Akeem Lawal, Divisional CEO, Payment Processing, Interswitch; Meaghan Johnson, Fintech Researcher, Customer Journey Expert, Strategy Consultant, UX & Design SME, just to mention a few on the very insightful panel sessions.

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