Last week First National Bank (FNB) launched nav» Money, a new feature within its banking app which will allow clients to better monitor their finances.
They will be able to access this alongside FNB’s nav» Home and nav» Car, which were respectively launched in 2016 and 2017.
So far Nav» Home has received over 1 million visitors, and nav» Car has renewed 10,500 car licences.
According to Jolandé Duvenage, chief imagineer (CEO) of nav», the series was created to help guide clients through their financial journey and create financial awareness.
During a press briefing last Friday she explained that nav» Money adds the following new features to the nav» series:
1. Track my Spend
This allows you to keep track of the amount of money that goes into your account each month, and the amount that goes out.
Duvenage believes this information could help clients get out of debt or generally improve their financial situation.
2. My Available Funds
This is where customers can see exactly how much money they will have left each month after their expenses.
“When you look at your monthly bank balance, you don’t always have 100% tabs on which debit orders are still going off, or which scheduled payments are still coming in,” said Duvenage.
She pointed out that this feature easily displays this information for you, so that you know exactly how much money you actually have available.
3. My Credit Status
Based on both internal and external information, this tool will display each client’s credit history in an easy-to-understand fashion.
But instead of just stating a client’s credit reality, it will also offer personalised advice on how to improve that credit score.
According to Duvenage, the nav» series itself is a journey and they intend to continue improving the app according to what their clients need.