South Africa: FNB introduces customer-centric innovations

FNB introduces new innovations for South African customers
FNB Chief Executive Officer, Jacques Celliers

FNB introduces new innovations for South African customers
FNB Chief Executive Officer, Jacques Celliers

FNB unveiled new customer-centric innovations on Wednesday, 16 May 2018.  The bank now enables customers to open an account with FNB in minutes by taking a selfie through the FNB App.

Additional innovations include the launch of eBucks Travel on the App which incorporates a fully-fledged travel offering, nav» Money, a digital money management solution that helps customers improve their financial health daily and Credit Card functionality that allows customers to courier and track card delivery on the FNB App. Customers will also be able to order and schedule courier delivery of new bank cards, switch debit orders, and set up digital banking immediately.

Speaking at the event, Jacques Celliers, Chief Executive Officer of FNB said, “We are on this exponential helpfulness journey and what is brilliant about these technology capabilities and data that we have, is that we can do more then we used to.” we know we need to set ourselves up for the future.”

Other helpful innovations from FNB include Selfie onboarding which allows customers onboarding through biometric facial verification on the FNB App for both consumers and business owners. Consumers can now switch with a selfie and open an account within minutes, with identity verification done through the Department of Home Affairs.

FNB introduces new innovations for South African customers
nav» Money is available on the FNB App.

“We have taken manual activities into a digital platform, FNB is going from a digital innovative journey to a meta-platform disruptive journey. Our centre of gravity has moved from what was old and new to platform-based activities. The winners of the future are platform-based activities”, said Celliers.

Celliers says that understanding the context of the customer is important, he says “Winners of tomorrow are the people that will understand the customers the best. If there’s one thing that we do a lot every day is interacting with customers. Our world is not only moving from a better way of distributing platform but also a better way of interacting with clients in this digital era. We also ensure that we capture the needs of customers”, added Celliers.

As part of an ongoing strategy of personalising rewards based on a customer’s unique banking behaviour, eBucks Rewards will launch FNB Offers, an instant rewards programme designed to surprise and delight members with instantly redeemable eBucks or discounted partner vouchers for performing everyday banking tasks.

The launch of these helpful innovations follows the recent launch of eWallet eXtra, a mobile bank account that allows unbanked and underbanked South African consumers to use a feature phone or a smartphone to open a bank account without ever walking into a branch.
FNB also introduced a mini-ATM that uses biometrics as a means of validation for consumers.

“We are exactly the same as Facebook because we get views to our site daily, they [Facebook] do it because of pictures and communities, we do it because people go to see their balances and their monies. Our challenge is what do we do with the moment when they are with us and how do we help them. ”

FNB introduces innovations for South African customers
Customers can open an account with FNB in minutes by taking a selfie through the FNB App.

With the launch of nav» Money, the bank also aims to help customers manage finances better.

nav» Money is positioned to help customers bring their money to life. Every morning a customer can access an updated view of their financial health based on three views;

Track my spend – this feature lets consumers know whether they are spending more than they are earning and provides spends tips to manage their cash flow better.

My available funds – lets consumers know what’s left to save and spend after all known upcoming payments. We take all your scheduled payments and debit orders into consideration. And if you are experiencing a shortfall, you can access other funds available like eBucks, savings, and credit – all in one useful place.

My credit status – FNB assess various data, including internal information and credit bureau info, to rate a customer’s credit fitness across seven helpful indicators. Know exactly what you’re doing right, and where you could improve, with personalized tips on late payments, credit limit usage, your track record and more.

By Fundisiwe Maseko
Follow Fundisiwe Maseko on Twitter
Follow IT News Africa on Twitter