Consumers at all of SA’s big banks, with the exception of Nedbank, are paying lower fees than they were last year. This is according to the third annual bank fees report by the Solidarity Research Institute, the research arm of the Solidarity trade union. The report, which was released on
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First National Bank has been named as the most innovative bank worldwide for 2012 at the BAI-Finacle Global Banking Awards in Washington, DC.
The awards are designed to recognise banks for “game-changing products, services, practices and other achievements”. “Running since 2004
High-profile former First National Bank chief information officer Mike Jarvis, who led a dramatic modernisation of the bank’s IT systems and who left SA in 2000 to return to his native Britain, has returned to the country. Jarvis has established a new business with former Symantec regional director
Mobile social network Mxit has integrated First National Bank’s eWallet into its mobile commerce platform, Mxit Money. The new service, called FNB Moola+, allows Mxit users to purchase the virtual currency for 35% less than it would cost if purchased using premium-rated SMS. Until now, Mxit users have had
First National Bank is in final talks with UK-based mPowa, a rival to American firm Square, about using the payments company’s technology to give its clients the ability to accept card payments using mobile phones. mPowa offers a white-label solution that supports multiple
Nedbank has finally launched its mobile banking application, although only on Android-powered smartphones for now. The app, known as the Nedbank App Suite, has been available to the bank’s staff since the end of June and can now be downloaded from Google’s Play Store. The Nedbank App Suite includes online
Moneysmart, the free personal financial management tool that was launched in beta last year, has been revamped and will be launched commercially in the next few days, promising an improved experience, automatic integration with all but one of SA’s major banks and forthcoming native applications for iOS and Android. The website
SA consumers have all but abandoned the chequebook as a means of payment, with corporate use declining severely in recent years, as technology takes over. Apart from the obvious security problems with cheques, the lower cost and added convenience of electronic channels mean chequebooks could soon join audio
“Steve” from “Beep Bank” has become something of a meme among SA consumers. The First National Bank advertisements, which poke fun at the company’s rivals, imploring consumers to switch banks, have become the subject of everyday conversation, with people regularly wondering aloud which bank “Steve” really works for
First National Bank customers who are registered for the bank’s cellphone banking service can now check their balances and purchase airtime along with SMS, data and BlackBerry bundles using social media website Facebook. The service does not allow for payments to