Nedbank mobile plans: “watch this space”

 ·6 Aug 2013

Nedbank says that downloads for its application has reached 230,000 since its launch in October 2012, while the group says it will continue to “innovate in mobile”.

On Tuesday (6 August 2013) the bank reported diluted headline earnings per share up 12.6% to 831 cents for the six months period ended June 2013. Headline earnings grew 13.3% to R3.91 billion.

Nedbank said it has grown its client base to above 6.4 million, up 10% from 5.9 million since June 2012.

In a Twitter interview under the hastag #AskMike, Nedbank CEO Mike Brown briefly underlined the bank’s growth in digital, saying that the bank’s “digitally enabled clients [are] up to 1.3 million, with 230,000 downloads of Nedbank App.”

When BusinessTech asked Brown if the bank has plans to enter the mobile space as an MVNO or whether it plans to retail mobile devices like its rival, FNB, Nedbank’s CEO said: “We continually look to innovate in mobile… watch this space.”

The CEO said that the bank has no plans to charge a fee for its online personal financial management tool, MyFinancialLife, launched in October 2012.

“No plans to start charging for MyFinancialLife. Fantastic product to manage your finances. We [are] keen to grow usage,” Brown said.

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Nedbank unveils My Financial Life

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