FNB banking app hits transactions landmark

Since launching its mobile banking application on the 20th July 2011, FNB has seen over R4 billion in transactions go through the app.

This is according to Michael Jordaan, who announced the figures this afternoon (26 June 2012) via his Twitter account.

Michael Jordaan tweet

The figure shows two-fold growth in transaction value going through the app, since the R2 billion landmark Jordaan reported in February.

Jordaan also tweeted that the FNB App had over 200,000 transacting users, making over two million transactions.

FNB was the first South African bank to offer mobile banking through an app, which grants users all the benefits of banking, using their smartphones or tablet PC devices.

The app offers customers a convenient, anytime, anywhere digital banking service, as well as other value-added services like location based services, as well as free calls and messages.

Rand Merchant Bank subsequently followed suit with a mobile banking app in April, becoming the second financial institution to introduce an app for mobile banking.

Currently, Nedbank has entered into the final stages of bringing its app offering to mobile devices, having launched the Nedbank App Suite internally to staff.

The app is expected to launch in the “near future”.

Absa said that it will not provide a date for the launch of its banking application, but it is in the works.

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.

“I can’t give you a date, but we are working on it, and I can assure you, we won’t disappoint our clients,” Absa told BusinessTech.

Standard Bank has not revealed any plans for a mobile offering.

The FNB App is a free download available on the Apple App Store; BlackBerry App world; Android Market and Nokia Ovi store and covers the four major operating systems.

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FNB banking app hits transactions landmark