Ask Afrika Orange Index® 2023 revealed that RMB Private Bank was rated the leading private bank based on positive customer experiences in South Africa. The index also placed private banking as a leading industry focusing on long-term relationships and ranked RMB Private Bank as the overall winner across all industries.

The Ask Afrika Orange Index® has been at the forefront of service benchmarking, is independent and is the broadest and most widely referenced service excellence benchmark in South Africa. The model has tracked client experience and changing trends and expectations since 2001. The index engaged with over 48 000 South African clients across industries through interviews on their experience with and expectations of the brand.

Gareth Matthews, head of RMB Private Bank, says: “To be recognised as the leading private bank based on positive customer experience in South Africa by the prestigious Ask Afrika Orange Index® Awards is indeed an honour and an acknowledgement of a business that strives for excellence in private banking and integrated financial services.

“This award recognises our efforts to offer the best solutions to our clients, underpinned by our integrated advice-led approach. Over the years, we have modernised our private banking, investment and insurance advice and made it accessible through convenient digital channels and private advisors.”

Mariette Erasmus, commercial executive, research, Ask Afrika, notes: “The index shows that first contact resolution remains the top performing area for brands overall – however, the range between industries is significant. The quality of the experience for the customer, encompassing flexibility and expertise, shows the largest improvement year on year. While brands are also better demonstrating the product benefits and value for money to clients.”

According to the index, emotional connection drives the experience in private banking.

“For RMB Private Bank, the emotional connection with clients is the differentiating factor and has been rated more highly than the service experience,” says Erasmus.

Matthews adds: “Wealth creation and retention for one’s family is an emotive subject. RMB Private Bank organises itself so that it has deep insights into specific client segments and offers suitable value propositions for those clients.

“This focused approach enables us to understand our client’s life stage, challenges and opportunities in such a way that we can advise on and structure better client solutions. Lastly, understanding those client segments better will help us to articulate our client’s ‘unknown’ needs to them.

“We strive to ensure that our clients will be in a better financial position in the future, thereby improving their wealth and the financial well-being of their families,” says Matthews.

“We are constantly trying to improve to ensure that clients receive consistent advice, innovative solutions and services. Lastly, our accomplishments are supported by our ability to deliver digital self-service/unassisted capabilities on our app and online channels.”

This accolade adds to several other significant awards that RMB Private Bank has received this year, including the Euromoney Best Bank for Ultra High Net Worth Individuals and Best Bank for ESG Investing in South Africa 2023 accolades.