FNB cellphone banking hits 2 million customers

By Staff Writer
First National Bank's (FNB) Cellphone Banking has clocked the 2 million registered customer mark - a move which makes FNB a leader in cellphone banking in South Africa.

Michael Jordaan, CEO of FNB says this milestone speaks to our brand promise of helpfulness and innovation. "When we launched FNB Cellphone Banking five years ago we did so with our customers in mind - we wanted to develop a solution that will make banking more accessible, affordable and convenient. This achievement is evidence of our goal to deliver an innovative solution of doing banking in a cost effective way."

When FNB introduced cellphone banking in the market, this meant that our customers got to save on bank fees; did not have to pay transport costs or travel long distances to make payments, check account balances or send money.

"The evolution of cellphone banking has made it possible for our customers to easily and safely send money to loved ones back at home - this meant they no longer have to use informal and expensive methods of sending money," adds Jordaan.

Cellphone Banking makes life better for all, with customers from both urban and rural areas using the service. Over 65% of registered customers earn less than R100, 000 per annum, and fall within the 19 - 40 age groups.

Ravesh Ramlakan, CEO of FNB Cellphone Banking Solutions says this success is a direct result of being able to anticipate the right technology at the right time for customers. "With the launch of FNB's menu based Cellphone Banking offering in 2005, customers with any cellphone and on any network could access the service with no download or configuration required."

"This milestone also shows that cellphone banking is safe and is gaining popularity among customers. We are constantly innovating and developing our technology to ensure that we add value to our customer base," adds Ramlakan.

"Cellphone Banking has changed and greatly improved the way our customers do banking," Ramlakan concludes.

Recent Articles

Featured Rating agencies may come knocking

It is only the middle of February, but the rand has already made two big moves. The first was the rand moving from R14.60 to R 13.20 at the beginning of the year, as emerging markets (EM) became fashionable again. The second was where the rand gave away nearly 90 cents in 2 weeks as the EM rally ran out of steam, and local events started to hit the headlines.

Read more

The cost of sending money home to neighbouring countries

Transferring money home within the Southern African Development Community (SADC) provides vital financial support for many households in neighbouring countries.

Read more

Student bank accounts: Which come out on top?

Being a student signals budgeting and not having a lot of money at your disposal. This means streamlining expenses such as your grocery costs and entertainment budget. But what if your bank account is in fact costing you more than you can afford?

Read more

Can you afford an ambulance in South Africa?

When a loved one is straddling the line between life and death, you won’t hesitate to call an ambulance. This week, Justmoney found out how much an ambulance ride costs in South Africa, whether you can refuse to get into an ambulance, and who pays the bill if you’re unconscious. 

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

President Hotel Easter Special

Price: From R1,500
When: 15 March to 30 April
Where: Cape Town

Kulula-Preskil Island Resort Special

Price: R16,999
When: 11 May -14 September
Where: Mauritius

A Touch Of Madness Tuck In Tuesday Special

Price: R70
When: Tuesdays
Where: Cape Town