FCMB leads Nigerian digital banking as competition shifts to user experience
First City Monument Bank has taken the top spot in KPMG's 2025 Nigeria banking survey, signaling that reliable digital infrastructure has become the baseline for retaining customers in Africa's largest economy.
FCMB ranked first in mobile and USSD banking and second in internet banking in the KPMG 2025 Nigeria Banking Industry Customer Experience Survey. The bank's mobile app score rose to 77.5 from 76.1, while its internet banking score climbed to 77.2 from 75.1. It also secured the top spot in contact centre experience with a score of 76.0.
For investors and bank executives, the survey underscores a critical shift in how Nigerian lenders must deploy capital to defend market share. Simply offering digital channels no longer yields a competitive edge. Instead, banks are being forced to compete on the sheer reliability and simplicity of those platforms.
Industry-wide data confirms this transition. Average customer satisfaction with app availability and uptime increased to 78.3 in 2025, up from 74.6 the prior year. Uptime is now the fourth most important metric for users. As a result, the proportion of customers abandoning their banks over transaction reliability dropped sharply from 21% to just 11%.
FCMB’s scores translate into tangible retention advantages. Among the bank’s 1,339 surveyed respondents, 54% used mobile banking weekly. When asked why they maintained their relationship with FCMB, customers cited the quality of its digital services as the leading factor. The bank also dominated the USSD category, moving from third to first place with a score of 75.9, a vital metric given the continued reliance on basic mobile devices in areas with poor internet connectivity.
However, the survey warns that current advantages are easily eroded. FCMB trailed the internet banking leader by a mere 0.3 points, illustrating how tightly contested the sector has become. Furthermore, the next phase of competition will be costly. Customer expectations for personalised services scored 81.3 in importance, while actual satisfaction lagged at 75.3. Security remains the single most important metric for retail and corporate clients alike.
KPMG conducted the survey between the third and fourth quarters of 2025, polling 24,432 retail banking respondents across 37 locations. The findings suggest that sustained digital leadership in Nigeria will require continuous, heavy investment in backend infrastructure, data analytics and security protocols rather than merely launching new frontend applications.
