Shortly after being awarded the Euromoney award for “Best Private Bank in South Africa”, RMB Private Bank announced the launch of their transactional banking Application (App) exclusive to their clients. The app launches on Apple (iOS), BlackBerry and Android platforms, with Nokia (Symbian) to follow.
With the launch of their Banking App, RMB Private Bank becomes one of only two banks in South Africa to offer such innovation to clients. Both banking App’s originate from within the FirstRand Group.
South Africa has an estimated 7.5 million Smartphones in circulation at the moment, excluding tablet devices. According to research company Gartner, 40 million Smartphones are expected to be in circulation by 2014.
“With the ever increasing smartphone and tablet penetration in South Africa and with RMB Private Bank clients being upwardly mobile, this innovation will offer our clients transactional banking, as well as relevant value added services. We have already seen the market readiness for banking Apps with the FNB App’s success and we believe this will be even more pronounced with RMB Private Bank clients,” stated Gavin Tarr, Head of RMB Private Bank.
Similar to the FNB App, the RMB Private Bank App will offer clients transactional banking as well as other value added benefits such as: Call functionality (including international calls); View foreign exchange rate functionality, ATM and Branch locators, prepaid services and more.
Tarr continues, “We are able to offer customers the comfort and security of FNB’s innovative banking platform, while still maintaining the bespoke service offerings of a boutique wealth management house. It is through this association that we are able to offer industry leading innovations, to our clients. This App will offer our clients with smartphones or tablets a unique, rich user interface on a safe and secure platform. We certainly see this as the future of mobile banking.”
The App, leverages off the hardware of the latest Smartphone and Tablet devices. This enables the additional features such as geo location and call functionality.
Sizwe Nxasana, CEO of the FirstRand Group said that having the only two transactional banking Apps on the African continent reflected the benefits of the Group’s innovative culture.
“We continue to see our operating businesses successfully leverage off their telecommunications skills and capabilities to provide value to customers” he said. “Having the only two transactional banking Applications on the African continent is something that we are very proud of.”
The FNB and RMB Private Bank App’s have an extensive roadmap and the intention is to keep the two Apps on par, consistently ahead of local competition.