{"id":96622,"date":"2024-10-09T00:00:00","date_gmt":"2024-10-09T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/uaes-banking-sentiment-fell-13-y-o-y-in-2023-on-complaints-of-customer-service-operational-issues\/"},"modified":"2024-10-09T00:00:00","modified_gmt":"2024-10-09T00:00:00","slug":"uaes-banking-sentiment-fell-13-y-o-y-in-2023-on-complaints-of-customer-service-operational-issues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/10\/09\/uaes-banking-sentiment-fell-13-y-o-y-in-2023-on-complaints-of-customer-service-operational-issues\/","title":{"rendered":"UAE\u2019s banking sentiment fell 13% y-o-y in 2023 on complaints of customer service, operational issues"},"content":{"rendered":"

The UAE\u2019s net banking sentiment \u2014 or the public perception of bank<\/strong>s \u2014 took a 13% y-o-y hit in 2023<\/strong>, largely due to operational shortcomings, according to PwC's banking sentiment index report (pdf)<\/a>. Online chatter about UAE banks grew by 10.7% y-o-y, with 108k conversations reflecting an increasing dependence on social media for banking interactions. Abu Dhabi Islamic Bank led the share of voice, followed by Dubai Islamic Bank.<\/p>\n

Customer service woes accounted for the greatest amount of complaints:<\/strong> Turnaround time accounted for 80.6% of customer service-related complaints. Customer service volume was 49.5%, with a net sentiment of -89.0% in 2023. Delays in response through traditional channels like email and call centers amplified frustrations, leading to customer perceptions of staff incompetency and a decline in service quality. Call centers continued to be the channel with the highest number of complaints, while mobile apps became the most favored and least criticized option.<\/p>\n

The frequency of responses to priority mentions improved to just over half of responses going unanswered<\/strong>, down from 72% the previous year, according to the report. <\/p>\n

Products were the second most discussed topic this year<\/strong>, with a significant increase in conversation volume and a more dominantly negative sentiment. The sentiment distribution remained unchanged from last year, at 17% positive and 83% negative, suggesting a simultaneous rise in both favorable inquiries and complaints about bank offerings, particularly regarding credit cards and loans. While demand for these products remains high, they are also frequent sources of customer dissatisfaction, with issues like card malfunctions and loan application challenges contributing to the negative sentiment.<\/p>\n

On the bright side: <\/strong>Investment products had a positive sentiment of 25.4%. <\/p>\n

Digital security<\/strong> issues are escalating as banks face a surge in fraud and scams, <\/strong>prompting calls for enhanced cybersecurity measures, as sentiment fell -86.9%. Customers are increasingly frustrated by fraudulent transactions and app downtimes that hinder transactions, worsened by inadequate support. Fraud reports increased by 5 percentage points y-o-y, the report said. <\/p>\n

Incumbent banks > digital in terms of sentiment: Incumbent banks accounted for over 90% of conversation on X and achieved a net sentiment score higher by 30.9 percentage points than digital banks, according to the report. This is largely due to customer service issues. <\/p>\n","protected":false},"excerpt":{"rendered":"

Incumbent banks received a higher sentiment score than digital ones<\/p>\n","protected":false},"author":1,"featured_media":96623,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1618],"tags":[159,7,1341],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-96622","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-enterpriseam-uae","tag-tech","wpautop","entry"],"acf":{"mongo_id":"ec79f08c-946c-4d09-9bc3-6918e4315ae6","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/679.jpg","photo_position":"above","homepage_title":"","full_issue_title":"UAE\u2019s 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