HEARD on the street
BANK RANKING SHOWS CAPITEC IS STILL AHEAD OF THE REST
To complement and corroborate data through a customer experience lens, BrandsEye, after partnering with customer experience expert Julia Ahlfeldt, has just released its 2017 Banking Sentiment Index.
To rank the banks by sentiment and gauge public opinion, BrandsEye tracked 1 790 933 social-media posts about the big five banks between September last year and August this year.
Key findings showed that:
. Capitec scored the highest net sentiment, with 13.5%, for the third year in a row.
. Absa received the lowest overall net sentiment, scoring -24.5%, with Nedbank and Standard Bank not far behind.
. None of the banks got flying colours, and consumers have common concerns about value, ease of product use, resolution of issues and delivery on promises.
. Ahlfeldt’s Net Experience Effect – a barometer for the health of brands’ customer experiences – also places Capitec as the leader, with Absa coming in last.
These and other results highlight the market gaps and opportunities that newcomers such as TymeDigital and Discovery may leverage, reinforcing that the industry is ripe for disruption next year.
FSB ISSUES WARNING ABOUT UNDER THE RADAR INVESTMENTS
The Financial Services Board (FSB) is warning the public to act with caution when dealing with Thapelo Mathibe of Under the Radar Investments. In terms of the Financial Advisory and Intermediary Services Act, the entity is not authorised to render any financial advice and intermediary services.
The FSB said that Mathibe lives in GaRankuwa near Pretoria and claims his company teaches people how to trade on the stock market. He trades on their behalf, but does not pay people their returns. He also promises people that his company is registered with the FSB.
It is the FSB’s view that Under the Radar Investments is misleading the public by claiming that it has an FSB licence.
The FSB encourages consumers who wish to conduct financial services with an institution or person to check if the institution or person is authorised to render financial services.
Contact the FSB via its website fsb.co.za, or call 080 011 0443 toll free.
FAMILY ASSIST COVER CONTRAVENES ACT
The Financial Services Board (FSB) is telling consumers not to deal with Family Assist Cover and its agents. The entity claims it is a registered financial services provider.
In terms of the Financial Advisory and Intermediary Services Act, Family Assist Cover is not authorised to render any financial advice and intermediary services.
The FSB has received information that Family Assist Cover is using the logo and financial services provider (FSP) number of KGA Life Limited (15980) to sell policies, stating that it is underwritten by KGA Life Limited.
KGA Life Limited does not and has not underwritten any policies for Family Assist Cover.
Family Assist Cover is also purporting to be underwritten by Avbob Mutual Assurance Society (FSP number 20656). Avbob Mutual Assurance Society has confirmed that it does not and has not underwritten any policies for Family Assist Cover.