Nedbank App targets “early May” launch

Nedbank is set to launch its banking application in “early May”, which would make it the third financial institution to launch an app in South Africa, after FNB and Rand Merchant Bank.

Nedbank CEO, Mike Brown, told Radio 702 at the end of February 2012 that the group would launch an app in the coming months.

“We have actually spent quite a long time working on developing our infrastructure to enable us to roll-out numerous apps over the top of our infrastructure. And really the area where we’ve spent the most of our time, effort and energy over the last 12 years is in the security environment,” said Brown.

“We’ve done a lot of work around the encryption etc. required to make sure that the security and app environment is water tight. And you will be seeing an app from Nedbank shortly, with those enhanced security features,” he concluded.

Banking apps in South Africa

Currently FNB and RMB are the only banks in South Africa that offer banking applications for smartphones.

The anticipated release of Absa’s banking app was delayed due to problems with its back-end system. It had initially intended to launch an app in Q4 of 2011.

Capitec Bank feels that its current mobile banking services adequately cater for its clients’ needs but hasn’t ruled out other means of giving mobile users access to banking services.

It is unclear what Standard Bank‘s plans are in this space.

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Nedbank App targets “early May” launch