FNB mobile banking records 25m transactions in December
First National Bank (FNB) said on Wednesday that its mobile banking channel processed in excess of 25 million transactions in December 2011 – with a transaction value of over R2.7 billion, up from R1.7 billion over the same period in 2010.
The bank boasts more than 3.5 million Cellphone Banking users.
Ravesh Ramlakan, CEO FNB Cellphone Banking Solutions says the growth of the service is due to its simplicity and the convenience that it offers customers.
Of the 3.5 million Cellphone Banking customers, more than 70% fall between the ages of 18 and 40, and earn less than R100, 000 per annum, the group said.
During the festive season more than 600,000 visitors accessed FNB’s mobi site.
Since its launch in March 2005, FNB has taken Cellphone Banking into some of its African subsidiaries, including Botswana, Namibia, Zambia, Swaziland and Lesotho.
“Given the current take-up of Cellphone Banking in the market, we plan to introduce the service to more countries during 2012,” said Ramlakan.
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