Nedbank says it continues to invest in research and development teams in order to create consistent innovative solutions for its clients.<\/p>\n
The group, this month, marks 50 years of technology.<\/p>\n
Speaking at an event in Sandton on Tuesday (24 June), Fred Swanepoel, CIO at Nedbank, said that 20 years ago, the bank made the decision to choose Microsoft as its main distributed IT infrastructure at a time when institutions ran on an IBM platform.<\/p>\n
“This was such a bold move that Bill Gates personally traveled to South Africa to seal the deal with Nedbank,” he said.<\/p>\n
According to Swanepoel, this was one of a number of major first-to-markets for Nedbank in terms of technological innovation. \u201cInternet banking is so common nowadays people don\u2019t think twice about making payments from their cell phones but this has been through many iterations to get where we are now.\u201d<\/p>\n
Nedbank was also one of the first major financial institutions globally to implement a form of banking on a cellphone, known as WAP banking. It was the real precursor to the app on current mobile phones, the tech lead said.<\/p>\n
“Other innovations also included being the first to introduce pre-paid options through electronic channels rather than physical vouchers \u2013 something that has now become a standard offering.\u201d<\/p>\n
Nedbank was the first to introduce computerised banking services on 31 May 1964, when the Fox Street branch became the first to go live on a NCR computer.<\/p>\n
Many innovations followed, Nedbank said, pointing to the introduction of NedInform, which enabled Corporate clients to do what was then called Office Banking.<\/p>\n
With the mobile phones revolution in the late nineties, Nedtel Cellular was introduced in 1997 under the management of Nedbank Information Technology.<\/p>\n
Through the 2000s, Nedbank said it worked towards integration and convergence long before they became buzzwords in the industry, making strategic investments in the technology space including Net 1 and DiData, as well as the mobile cellular arena.<\/p>\n
A further highlight was the introduction of certificate-based security to the Nedbank Banking Platform in 2004.<\/p>\n
\u201cFor Nedbank, while we are immensely proud of our technological heritage, technology evolves at such a rapid pace that it is critical that our banking technology continues to help deliver innovative, client centric solutions that can be personalised and provide convenient, safe banking,\u201d Swanepoel said.<\/p>\n
Nedbank is fast tracking the movement of banking technology into the future through the launch of the group\u2019s \u2018Branch of the Future\u2019, the CIO said.<\/p>\n
“It\u2019s all about significantly improving the customer experience, with exciting features like automated queueing, multi-functional service points, video banking with subject matter experts and access to technologies such as iPads, touch screens, smart tables and video walls,\u201d Swanepoel said.<\/p>\n
\u201cOur most innovative years in banking technology still lie ahead. We will remain focused on enabling Nedbank to leverage world-class technology to be Africa\u2019s most admired bank,\u201d he said.<\/p>\n
We\u2019ve got our innovation mojo back: Nedbank<\/strong><\/a><\/p>\n