FNB reports success of smart device deal

Galaxy Note III

Galaxy Note III

JOHANNESBURG – FIRST National Bank reported sales of over 250 000 devices worth over R1 billion since the inception of its smart device deal.

The initiative was launched three years ago.

Ninety percent of these devices using FNB’s digital banking channels.

Officials said the service was a first of its kind banking offer, which gives customers access to smart devices and enables them to bank digitally.

“Digital banking is no longer something that we can refer to as the “future of banking”. With over 1 million active devices transacting on FNB’s Banking app alone, it is clear that this is the banking of now.

“However, we understand that in order for our customers to bank digitally they need access to the devices that enable this, which is what our smart device offer provides,” said Kartik Mistry, Head of FNB Smart Devices.

“With 76 percent of all device sales being smartphones and tablets, it proves that these are the modern day tools that have become essential in today’s world of instant access and on-the-go living,” said Mistry.

FNB said it had seen an 18 percent year-on-year growth in device sales, with 22 percent of customers choosing to own more than one device through the FNB Smart Device deal.

Ordering online is the way most people choose to purchase their device with 59 percent of people ordering online and 11 percent of customers choosing to do so at one of the bank’s dotFNB stores.

“We are encouraged at the growth rate we’ve seen to date as it not only proves that we made the right call to launch the offer in the first place but also that people have taken so keenly to banking digitally,” said Mistry.

The official said the last three years had also seen FNB’s smart device range expand from phones and tablets to include laptops, gaming consoles and televisions.

“The popularity of the devices with customers has enabled us to expand our range and in turn pass the discounts that we get from our suppliers back to our customers,” added Mistry.

– CAJ News





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Posted by on Oct 29 2014. Filed under Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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