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The latest KPMG 2025 Nigeria Banking Industry Customer Experience Survey highlights how evolving customer expectations are reshaping competition among Nigerian banks.
While most banks recorded improvements across digital touchpoints, the race is increasingly being defined by the ability to deliver consistently superior experiences rather than incremental gains.
Against this backdrop, First City Monument Bank emerged as one of the industry’s strongest performers across major digital banking channels.
Survey highlights
- FCMB ranked first in mobile banking and USSD experience in KPMG’s 2025 Nigeria Banking Industry Customer Experience Survey.
- Its mobile-app customer experience score rose from 76.1 in 2024 to 77.5 in 2025, while its internet banking score improved from 75.1 to 77.2.
- The findings indicate that competition among Nigerian banks is shifting from simply providing digital channels to delivering reliable, simple and consistently superior customer experiences.
Digital experience is now the new battleground
Digital banking adoption has expanded significantly across customer segments, raising expectations around convenience, transaction reliability, security and ease of use.
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As banks invest more heavily in technology, competitive advantage is no longer defined simply by the availability of mobile apps, USSD platforms and internet banking services. It increasingly depends on the ability to deliver smooth and reliable experiences across these channels.
The survey found that mobile banking remained the most frequently used banking channel, while average customer satisfaction with app availability and uptime increased from 74.6 in 2024 to 78.3 in 2025.
Availability and uptime of mobile banking applications also ranked as the fourth most important measure for customers, reinforcing the growing importance of dependable digital infrastructure to customer retention.
FCMB leads mobile and USSD experience
FCMB ranked first in mobile-app customer experience, with its score rising from 76.1 in 2024 to 77.5 in 2025. The bank moved from second place in the previous survey to the top of the category.
The result is significant because mobile apps have become a primary channel for everyday banking activities, including transfers, bill payments and account monitoring.
Among FCMB respondents, 54% used mobile banking weekly, while the quality of digital banking services was the leading reason customers gave for maintaining their relationship with the bank.
FCMB also ranked first in USSD experience, improving its score from 75.5 in 2024 to 75.9 in 2025 and moving from third place in the previous survey.
Despite the growing adoption of smartphone-based banking, USSD remains important for customers using basic mobile devices or operating in areas with limited internet access.
FCMB ranks second in internet banking, first in contact centre experience
FCMB also strengthened its position in internet banking, where its customer experience score increased by 2.1 points, from 75.1 in 2024 to 77.2 in 2025.
The bank ranked second overall in the category and finished only 0.3 points behind the industry leader, indicating a narrowing gap at the top of the internet banking market.
Beyond its digital banking platforms, FCMB ranked first in contact-centre experience, with its score improving from 74.5 to 76.0. It also placed fourth in social media experience, recording a score of 74.3.
Taken together, FCMB’s first-place rankings in mobile banking, USSD and contact-centre experience, alongside its second-place position in internet banking, underscore its strong performance across digital and customer-support channels.
Survey insight
KPMG’s findings suggest that reliability is gradually becoming a basic customer expectation rather than a differentiating feature.
Although the proportion of customers switching banks because of transaction reliability declined from 21% in 2024 to 11% in 2025, customers increasingly expect transfers, payments and other banking activities to be completed without delays or disruptions.
As digital capabilities across banks become more similar, differentiation will increasingly depend on how seamlessly banking services fit into customers’ daily lives.
Customers also expect banks to use data more intelligently to anticipate their needs, provide relevant recommendations and deliver more personalised services.
The survey also, showed that the importance customers attached to personalisation increased to 81.3, while average satisfaction stood at 75.3, indicating that expectations are rising faster than banks’ ability to meet them.
Security remains equally important. The survey identified the security of account information and transactions as the most important measure for retail and corporate customers. Banks must therefore combine convenience with effective fraud protection, strong authentication and clear communication about how customer information is protected.
What this means for Nigeria’s banking industry
FCMB’s performance reflects the broader transformation taking place in Nigerian banking, where digital experience is becoming increasingly important to customer acquisition and retention.
However, rankings can change quickly as competitors improve their platforms. Sustaining leadership will require continued investment in infrastructure, transaction reliability, security, complaint resolution and personalized customer engagement.
KPMG conducted the survey between the third and fourth quarters of 2025. It covered 24,432 retail banking respondents across 37 locations in Nigeria, while the FCMB retail sample comprised 1,339 respondents.
The findings show that the next phase of banking competition will not be determined merely by which institutions launch the most digital products.
It will depend on which banks can provide customers with the simplest, most reliable and consistent experience whenever they transact.
