Amid the accelerating shift towards digital banking, nearly half of banking customers in Ghana still favor traditional banking methods, according to the 2024 PwC Ghana Banking Survey Report.
The survey reveals that 47% of respondents prefer to conduct their banking transactions through conventional means, highlighting the enduring appeal of face-to-face interactions and in-branch services despite the digital revolution.
Conversely, 53% of customers have embraced digital banking, utilizing smartphones, laptops, and tablets to manage their financial activities.
The report underscores the increasing reliance on technology, with mobile banking apps emerging as the dominant digital channel. 4
A significant 64% of respondents identified mobile apps as their preferred digital platform, overshadowing the use of USSD (16%) and web-based Internet banking (16%).
The survey, which delves into customer banking experiences, also underscores the importance of efficiency and convenience in traditional banking settings.
Nearly two-thirds (64%) of customers believe that shorter wait times in branches considerably enhance their banking experience.
Furthermore, 60% of surveyed customers expressed a preference for completing their in-branch transactions within ten minutes or less, emphasizing the value of time efficiency in maintaining customer satisfaction.
Social media platforms have also become integral to customer interactions with banks. WhatsApp stands out as the most favored channel, with 42% of bank customers using it for communication with their financial institutions.
In contrast, Facebook is preferred by 11.2% of customers, followed by YouTube (8.1%), LinkedIn (7.7%), and Instagram (6.9%).
These findings reflect a nuanced landscape where digital and traditional banking methods coexist, each catering to distinct customer preferences and needs.
While digital channels offer unparalleled convenience and accessibility, a substantial segment of the customer base remains loyal to the personalized service and direct interaction provided by traditional banking.
The PwC Ghana Banking Survey Report serves as a vital tool for banks to gauge customer sentiment and adapt their strategies accordingly, balancing the old and the new in the ever-evolving financial services industry.
