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.