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FNB increases access to banking

By in Business, Economy, Finance on April 5, 2016

FNB is charging ahead with its efforts to deliver alternative banking channels that allow customers to perform various transactions electronically.

Lee-Anne van Zyl, CEO of FNB Points of Presence, says “Our approach to providing access to banking is solution based; it’s not only about providing banking channels we also want to ensure the service is tangible. FNB has increased the placement of Slimline devices in rural areas by over 107% in the last 12 months. The slimline device enables customers to open accounts, perform prepaid purchases and withdrawals (by means of a retailer voucher), and make deposits and card-less and eWallet transactions.”

“Rural communities have benefited the most from this drive; FNB has more than 2 158 ATMs in rural communities and a branch footprint of 375 branches.”

The need to increase access to banking for people in remote areas has prompted to FNB pioneer new ways to accommodate the banking needs of its customers. Furthermore, branch staff plays a critical role in assisting customers to migrate to electronic (ATMs) or digital channels via online, cell phone or App Banking.

“When people bank through formal financial structures the opportunities for them to participate and subsequently benefit from this interaction has positive far reaching economic effects. Hence we are consistently looking to come up with solution based banking channels,” adds van Zyl

Access to more modern modes of banking is not only safer but also allows more flexibility and creates trustworthiness. People in the rural or remote areas have always interacted with money in ways that aren’t favourable to growth and saving.

Also people in these areas have historically saved their money through informal channels, where the temptation to use this money is greater than if it were in a 32 day deposit account for example.

“Our aim is to make banking easy for customers despite their location, however, more important is to ensure we deliver convenient way for banking, and providing solutions for everyday problems in the process,” concludes Van Zyl.