Net Sentiment a key metric in Capitec’s path to SA’s largest bank
In 2016 DataEQ began supplying Capitec with human-verified sentiment data from social media, providing a new source of unsolicited real-time client feedback. At the end of the 2015/16 financial year, Capitec had 7.3 million clients. Since then, the bank has grown to become South Africa’s largest retail bank with over 14 million clients.
Despite rapid growth, Capitec has continued to delight clients as reflected in the DataEQ’s annual Banking Sentiment Index, where it remains the only bank to continuously maintain a positive Net Sentiment Score since 2015. Capitec was also recognised as the Best Bank in the World in the inaugural Lafferty Bank Quality Ratings for both 2016 and 2017.
The bank uses DataEQ data to assess client sentiment about its products and services. This data has been critical to developing a responsive client-centric strategy and is used across Marketing, the various product teams, as well as, by senior management for strategic decision making.
"We’ve relentlessly challenged the norms of banking to create a simplified product that is built upon client-centricity. DataEQ’s data helps us keep our finger on the pulse of our clients and South Africans in general. We’re able to listen to client feedback, gain insights into unmet needs and spot trends in real-time, which helps us deliver the world-class client service and industry-leading products our clients have come to expect."