Kenya Commercial Bank (KCB) has been ranked 13th in the Top 100 Digital Banks survey carried out by Digital Scouting, a German-based Market Analysis Company.
KCB moved one position up from the previous ranking that had placed the bank at position 14 globally. The bank recorded a power score of 89 out of a possible 100. The ranking used the Kred Algorithm which analyzes the Social Media Presence in a transparent manner and grades the companies.
The ranking comes at a time where digital advertising is taking a course in the Kenyan advertising scene. KCB bank has a following of 290,757 followers on Twitter, over 1 million likes on Facebook and 7 million views on YouTube.
Social Media has grown from being a mere digital channel for socializing to one of the most powerful digital marketing tools for products and brands. It has also proven to be a very cost-effective way of communicating with a global audience. Therefore, with social media, it is possible for customers to effectively communicate with their service providers and expect timely feedback.
Other banks that made it on the list and have presence in Africa are; Guaranty Trust Bank (GT Bank) with 91 Power Score, CITI Bank (85), FirstBank Nigeria (68), Access Bank (68), Standard Chartered (67), UBA Group (66), Barclays Bank (56), and Diamond Bank (45).
According to Digital Scouting’s Dr. Robin Kiera, the ranking does not include all indicators for the digital state of a bank. However, if a financial institution claims to be innovative and trying to use the opportunities of digital transformation but does not do a good job on social media, there might be a contradiction.