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Banking
Wednesday, October 30, 2013 - 11:06
Mobile motives

FNB encourages customers to use its digital and electronic banking channels as another way to save this National Savings Month. By using channels such as FNB Banking App, FNB Online Banking or Cellphone Banking, FNB customers save between 75 and 100% on day-to-day transactions.

“We are intentionally encouraging customers to use our digital and electronic platforms as they are far more cost effective than traditional channels such as branches and ATMs. Digital banking increases efficiencies for the bank as it is more streamlined and less labour intensive. This drives down our transactional costs, which in turn, allows us to pass this saving onto the customer,” says Farren Roper, Head of FNB Connect ISP and Business Operations.
The variety of digital and electronic banking channels offered by FNB allows customers to save on bank charges irrespective of the device in use. National Savings Month is an ideal time for customers to evaluate their expenditure on bank charges and explore different ways to bank and save whilst doing so.
FNB has over the last few years been recognised as the market leader in affordable banking, by independent market studies such as the Solidarity Report* and the Finweek Bank charges report**. Customers using the Unlimited Pricing option incur no additional transaction fees as these transactions are unlimited and included in the monthly fee.
The uptake on the FNB Banking App, which has reached the 500 000 active user mark in June 2013, as well as having the largest online banking market share of 35% in SA (according to the AMPS survey, December 2012) proves that more customers are discovering the benefits of these electronic channels.
For instances in which cash has to be withdrawn FNB offers its Personal Cheque Account customers a free alternative to withdrawing cash at an ATM through Cash@TillTM.  “Clients simply ask for cash when paying for their goods or groceries with their FNB Cheque cards at any Pick ‘n Pay, Checkers, Shoprite or Boxer Store. It’s easy and convenient and means no queuing at the ATM,” says Jo-Ann du Plessis, Head of Pricing at FNB Core Banking Solutions.
Apart from saving on bank costs, FNB Connect makes it possible for qualifying customers to drive down their voice and data bills through affordable ADSL and 3G as well as free calls and messages, customer-to-customer, through the Connect phone on the FNB Banking App.
“With an increasing shift towards digital banking and the access to development teams that are skilled and trained to leverage opportunities, FNB will continue to give customers added value and an increased opportunity to bank in a manner that saves time and money,” concludes Roper. 


ADSL Service


Meanwhile the bank recently announced its Uncapped ADSL product, with discounts of up to 100% on monthly subscription fees applicable for qualifying customers who sign up from 8th August 2013.
Qualifying Personal Cheque Account holders and FNB Private Client customers can receive between 10% and 100% off on some of the most competitive uncapped ADSL rates through FNBs internal Internet Service Provider, FNB Connect.
According to FNB, in a market where price wars have been prevalent, the opportunity was ripe to launch an unbeatable offer that would be the best data deal seen in the financial services as well as telecommunication space.
“FNB has always been the leader in terms of data rewards offered to customers. We have embraced the trend towards uncapped ADSL and wanted to offer a long term deal which will distinguish FNB from the other players in the market. No other ISP gives their clients up to 100% discount off their monthly Uncapped ADSL subscription,” says Farren Roper, Head of FNB Connect ISP.
Irlon Terblanche, CEO of FNB Core Banking Solutions, says the uncapped offer is available as an exclusive benefit for holding an FNB personal cheque account. Customers can reach the 100% discount through banking efficiently and electronically, and holding qualifying products with FNB: “The FNB discount on uncapped ADSL is one of the ways in which we are rewarding customers in a unique manner, this time by enabling internet access, something that has become a necessity for many customers.”
The rationale behind FNB’s latest data offer was largely spurred on by South African internet consumption which showed an increase in the amount of time spent on the internet uploading and downloading content, browsing, engaging on social media platforms, and sending and receiving emails, often from more than one device per user.  The ADSL market in itself has grown to 859 000* from 2011 to 2012. Through uncapped ADSL FNB wishes to not only secure its position as a key player in the data provision space but aims to contribute to increased internet penetration that has a positive correlation to economic growth, job creation and learning.
Connection options include 384Kbps at R99 p/m, 1Mbps at R199 p/m, 2Mbps at R299 p/m, 4Mbps at R399 p/m and 10Mbps at R899 p/m with the added benefit and flexibility of a monthly subscription that can be upgraded, downgraded or cancelled month-to-month.
In order to make use of the uncapped ADSL deal, customers will have to sign up through either www.fnb.co.za or FNB Connect at www.fnbconnect.co.za at no cost and own a Telkom ADSL line as well as a router (available from dotFNB stores).
“Free uncapped ADSL enhances the FNB value proposition and makes it possible for us to enable a digital lifestyle that not only simplifies banking but keeps our customers connected. We are of the belief that this offer will make a real and tangible difference to customers’ data bills and we are proud that we were able to develop this in-house,” concludes Roper.
 

 

Copyright © Insurance Times and Investments® Vol:26.8 1st August, 2013
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