The Chartered Institute of Marketing Ghana (CIMG) has called on banks and financial institutions to prioritize customer experience, warning that failure to do so could erode customer loyalty.
Speaking to Starr News, CIMG National President, Michael Abbiw, urged financial institutions to move beyond traditional service delivery and adopt scientific, research-driven approaches to solving customer problems.
He emphasized the importance of listening closely to customer concerns and designing evidence-based solutions.
“The dynamic demands of bank customers require financial institutions to be resilient and innovative in addressing challenges. Banks can no longer ignore service excellence,” Mr. Abbiw said.
Three pillars of banking success
The GH-CSI 2024 report highlights three core pillars that drive modern banking:
- Service quality
- Customer satisfaction
- Customer loyalty
Mr. Abbiw stressed that under his leadership, the CIMG will push for service excellence to be recognized as a consumer right rather than a privilege.
“The minimum acceptable standard must be clearly defined… No service provider can afford complacency or fall short of this baseline,” he stated.
Beyond banking, he revealed plans to replicate the initiative in the insurance industry by engaging the National Insurance Commission and other stakeholders to form a technical committee to improve service delivery.
He called on the Ghana Insurers Association, the Chartered Insurance Institute of Ghana, and insurance companies to “chart a new course” and elevate service standards.
Mr. Abbiw urged banks to treat the GH-CSI report as a directive to improve customer service. He also expressed gratitude to customers for their participation, noting that their feedback forms the foundation for continuous improvement.
President of the Ghana Association of Banks, John Awuah, also encouraged banks to act on the report’s findings.
“The report provides useful insights that should not be shelved. It must be used to improve customer satisfaction in the financial sector,” Mr. Awuah advised.
Meanwhile, Advisor on Financial Stability at the Bank of Ghana, Franklin Belyne, underscored that improving customer satisfaction and loyalty should be a top priority in a competitive, trust-sensitive market.
The Ghana Customer Satisfaction Index (GH-CSI) is an annual report that evaluates service quality across banks and key sectors, ranking institutions based on customer experiences and perceptions.
Source: Starrfm.com.gh / Benjamin Sackey
