FNB is one of the only banks in South Africa that give its customers the opportunity to purchase different pieces of technology through it Smart Device offerings – and it has been paying off.
Since the offerings started three years ago, the bank revealed that they have provided over 250 000 devices to customers, which roughly totals to R1 billion. The bank offers a wide variety of technology, but 42% of FNB’s overall sales come from smartphones.
“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,” says Kartik Mistry, head of FNB Smart Devices, in a press statement.
Tablets make up 34% of its overall sales, with Apple’s iPad being the most popular and Samsung Galaxy smartphones proving to be the hottest commodity in the mobile phone department.
“With 76% 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,” says Mistry.
According to the bank’s internal statistics, it has seen a year-on-year growth in sales of about 18%, with 22% of FNB customers opting to purchase a second unit. Customers also tend to purchase their units online as almost 60% do so, while only 11% of customers choose to go to the bank’s dotFNB stores.
“With continuous interest and growth of our smart device offer and digital banking, we will be able to offer more value, convenience and cost savings to our customers, reducing the dependency on cash, building on our digital ecosystem and digital lifestyle,” he concluded.[Source – FNB]