Nedbank has pushed the launch of its banking application to “late June”, having originally scheduled to unveil its digital service in early May.
The bank is vying to become only the third financial institution to launch an app in South Africa, after the successful launch by FNB and Rand Merchant Bank.
“The date has been pushed out from the originally intended one… to late June,” a spokesperson said.
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
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.