Saudi banks score low on customer service, digital experience – analysis

Saudi banks score low on customer service, digital experience – analysis



Consumer confidence towards retail banking in Saudi Arabia has improved over the last year, but financial institutions score poorly in customer service, product offerings and digital experience, a new index showed. The KSA Banking Sentiment Index by PwC Middle East and DataEQ, which analysed consumer reviews, including complaints and discussions online, cited that financial institutions in Saudi Arabia continue to attract negative feedback, especially around customer service, credit cards, transaction delays and system glitches, among others. The index tracked more than five million posts on X (formerly Twitter) pertaining to seven major retail banks, including Al Rajhi Bank, Alinma Bank, Al Bilad Bank, Riyad Bank, Saudi National Bank, Saudi Awwal Bank and Banque Saudi Fransi. The posts were processed using Crowd and AI technology to reach the “net sentiment” of customers towards an organisation. Overall, Saudi’s banking industry earned an 11.3 percentage point increase in net sentiment compared to 2022, which can be largely attributed to a 9.1 percentage point increase in reputational net sentiment. The improvement in reputational net sentiment is thanks to the banks’ CSI initiatives, flourishing financial performances and improved customer experience (CX). However, customer service and turnaround times were commonly cited as major “pain points”, the