This paperless cheque account opening process uses biometric technology to validate the business and its owner, allows the SME to order and courier new cards, switch debit orders and setup digital banking immediately.
This “marks a significant milestone in our 180-year history as we move beyond being a digital innovator to a broader contextual platform disruptor,” FNB CEO Jacques Celliers said at the launch of the service on Wednesday. “It is through this contextually helpful platform that we can offer holistic financial solutions and become a trusted partner to the broader society. This will enable us to help create a better world for years to come.”
Mike Vacy-Lyle, CEO of FNB Business said FNB had worked hard to understand how SMEs operate and the day to day challenges they faced, which were considerable.
“We have coined the phrase ‘businessism’ inside FNB, driving our focus on solutions that remove those moments of angst that businesses face – from registering a company and opening a bank account, to applying for credit and managing the businesses daily affairs,” said Vacy-Lyle. “Our digital solutions now cater for the entire SME value chain via Online Banking Enterprise, which is linked to the FNB App.”
The focus on fintech has grown significantly on the African continent. Although there are a number players that actively innovate in the SME market, they often lack scale and fail to deliver a single platform that is convenient and does not pose additional cost, security and administrative burdens.
“Therefore, it was imperative that we not only integrate key solutions, but further incorporate trust and simplicity to our platforms, while ensuring that we do not add complexity in an already over-crowded marketplace,” said Vacy-Lyle.
FNB Business revealed the following statistics regarding its SME offerings:
- An average of 3000 new company registrations were initiated every month on digital channels in the last year, with more than 1,000 assisted CIPC registrations per month.
- Over 300 000 customers accessed digital account confirmation letters online (with SARS endorsement) eradicating the need to go to branch or call in for assistance.
- eWallet Pro payments between SME’s and casual workers increased 40% year on year.
- Over 4 500 customers used DocTrail which allows businesses to easily attach source or reference documents to all their digital payments in the cloud, creating a transparent and auditable trail for every payment execution.
- Over 200,000 customers registered to use FNB’s suite of Instant Value Add solutions, that help take the angst out of your day-to-day business administration of bookkeeping, payroll and invoicing.
- FNB Instant Invoicing produces over 40,000 compliant tax invoices per month for businesses;
- Business clients can now make payments, including Pay-and-Clear now, as well as those that require multiple authorisations on FNB’s digital channels.
- More than 50% of all credit applications in FNB Business are now digitally originated and approved representing more than R200m per month of new SME credit facilities.
New iPhone pricing for SA
The iStore has announced that the latest iPhones, the Xs and Xs Max, can now be pre-ordered at www.myistore.co.za , and will be available in stores starting 28 September 2018.
|iPhone Xs and iPhone Xs Max feature 5.8-inch and 6.5-inch Super Retina displays that offer remarkable brightness and true blacks while showing 60 percent greater dynamic range in HDR photos. iPhone Xs and iPhone Xs Max have an improved dual camera system that offers breakthrough photo and video features, A12 Bionic chip with next-generation Neural Engine, faster Face ID, wider stereo sound, longer battery life, splash and water resistance,
Pre-orders will be open for cash purchases and on iStore’s revised payment plan in partnership with FNB Credit Card, allowing customers to pay off their iPhone at a reduced interest rate. However, the contract period is 37 months rather than the usual 24 months.
Accenture opens Fjord design centre in Johannesburg
Accenture has launched its first design and innovation studio on African soil, Fjord Johannesburg.
The company says the move significantly expands its design capabilities and demonstrates its commitment to unlocking Africa’s innovation potential through the creation of experiences that redefine industries in our constantly evolving digital era.
The new studio, opening in November, will be located at Accenture’s new 3875m² offices in Waterfall. It will be led by Marcel Rossouw, design director and studio lead for Fjord Johannesburg.
Said Rossouw, “Brands are constantly asking, ’how does one take a business need or problem, build that out into a definition of a service experience, and then bring it to market?’ It’s about re-engineering existing service experiences, identifying customer needs, prototyping rapidly, iterating often and proving or disproving assumptions. But it’s also about getting feedback from customers. The combination of these factors helps companies advance towards the ultimate service experience.”
Fjord is the design and innovation consultancy of Accenture Interactive. The Johannesburg location marks its 28th design studio globally, solidifying its position as the world’s leading design powerhouse.
Working in the same location as Accenture Interactive will allow Fjord to fuse its core design strategy DNA with the digital agency’s expertise in marketing, content and commerce to create and deliver the best customer experiences for the world’s leading brands.
Accenture Interactive Africa‘s blend of intelligent design and creative use of technology has already been used by some of South Africa’s largest and most prominent brands, including Alexander Forbes, Discovery, MultiChoice and Nedbank. The digital agency has also earned industry accolades for its innovative and compelling business results, most notably two gold awards in the Service Design category at the 2017 and 2018 Loeries awards.
“Great design tells great stories,” says Wayne Hull, managing director of Accenture Digital and Accenture Interactive lead in Africa. “It unifies a brand, drives innovation and makes the brand or service distinctive and hyper-relevant in both the digital and physical worlds. This is critical to achieving results. Having Fjord Johannesburg as part of Accenture Interactive, and collaborating with all of Accenture Africa, will provide unique experiences and forward-thinking capabilities for our clients.”
“Businesses in South Africa are becoming more design-aware and are looking to take greater advantage of design skills to compete with the rest of the world,” said Thomas Müller, head of Europe, Africa and Latin America at Fjord. “We’re excited to open our first design studio on the continent and to be part of an emerging market that is ripe for design and innovation, and open for business. Developing markets like South Africa are challenging assumptions and norms about what digital services and products are meant to be, and we’ll strive to put design at the heart of the innovation being produced there.”