Why FNB is rated as the top bank in SA

First National bank (FNB) has been named the top bank in South Africa in numerous surveys and, according to the company, the reason for its popularity comes down to low bank fees, innovative banking services and a rich rewards program.

“We are seeing that customers are seeking low bank fees, innovative banking and a rich reward programme,” said FNB spokesperson, Christine Burrows.

“FNB continues to hold the position of the lowest price bank; this is critical in current conditions where consumers are under even greater pressure.”

Burrows added that offers from FNB, such as discounted smart phones and tablets, free data on ADSL and 3G, eBucks and slow lounges can equate to a rand value in excess of the customer’s monthly banking costs.

Leader in online services

FNB is widely seen as the leader in online banking services, and according to latest All Media and Products Survey (AMPS) figures (released in June 2012) FNB Online dominates market share of electronic banking consumers.

FNB Online CEO, Lee-Anne van Zyl said that their dominance is thanks to ease of use and continual addition of new functionality.

“We have seen a 98% growth in new customers opening accounts via online banking. Their first point of contact with FNB is via our landing page, rather than in a branch,” van Zyl said.

FNB currently boasts over 1.2 million active online banking customers and more than 220,000 active clients using their banking app. “Our app usage growth is increasingly on the rise and we are now adding more than 30,000 clients a month,” FNB said.

Farren Roper, head of FNB Connect ISP, said that they continue to develop innovative app and payment solutions, such as their recently-launched Geo payments.

“What we have learned in the almost 12 months that we gained a first mover advantage, is that simplicity and ease of use really is the ultimate sophistication,” said Roper.

The company has also increased its number of FNB registered cellphone banking customers to more than 4 million with monthly transactions amounting to more than R1.5 billion. “The service now attracts a diverse market of techno savvy and ordinary cellphone users.” said FNB.

Free ADSL data

“From an FNB Connect ISP perspective, our unique telecommunications licenses, as well as our self-managed network, allow us to give our customers unique benefits like up to 5GB of free monthly ADSL data just for holding an FNB account. This is not only something unique to the financial services industry, but also the ICT industry,” said Roper.

“As a VoIP provider, FNB Connect has also given our clients free calls to each other as well as FNB and was one of the first players to pass interconnect rate cuts onto clients.”

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Why FNB is rated as the top bank in SA