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FNB allows selfie authentication

FNB has announced that SMEs can now completely switch or open a new bank account in less than five minutes through selfie authentication and digital KYC (Know Your Customer) on the FNB App.

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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.

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News fatigue shifts Google searches in SA

Google search trends in South Africa reveal a startling insight into news appetite, writes BRYAN TURNER.

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The big searches of the year no longer track the biggest news stories of the year, suggesting a strong dose of news fatigue among South Africans.

“People ask, why are the Guptas not on the list of Google’s top searches?, says Mich Atagana, head of communications and public affairs at Google South Africa, “The Guptas are not on the list because South Africans are not actually that interested. South Africans are looking for things they don’t know. From a Gupta point of view, we’ve been exhausted by the news and we know exactly what is going on.”

Google South Africa announced the results of its 2018 Year in Search, offering a unique perspective on the year’s major moments.

“Four years ago, there were almost no South Africans on the personalities list,” says Atagana. “Over the years, South Africans have gotten more interested in South Africa, in searching on Google.”

That isn’t to say that international searches – like Meghan Markle – are not heavily searched by South Africans. But  they feature lower down on the lists.

From the World Cup to listeriosis, Zuma and Global Citizen, South Africans use search to find the things they really need to know.

These are the main trends revealed  by Google this week:

Top trending South African searches

  1. World Cup fixtures
  2. Load shedding
  3. Global Citizen
  4. Zuma
  5. Winnie Mandela
  6. HHP
  7. Listeriosis
  8. Black Panther
  9. Meghan Markle
  10. Mac Miller

Trending personalities

  1.    Jacob Zuma
  2. Cyril Ramaphosa
  3. Sbahle Mpisane
  4. Kevin Anderson
  5. Malusi Gigaba
  6. Ashwin Willemse
  7. Patrice Motsepe
  8. Cheryl Zondi
  9. Shamila Batohi
  10. Mlindo the Vocalist

Top Questions

  1. How did Avicii die?
  2. How old is Pharrell Williams?
  3. What is listeriosis?
  4. What is black data?
  5. How old is Prince Harry?
  6. How much are Global Citizen tickets?
  7. How to get pregnant?
  8. What time is the royal wedding?
  9. What happened to HHP?
  10. How old is Meghan Markle?

Top ‘near me’ searches

  1. Jobs near me
  2. Nandos near me
  3. Dischem near me
  4. McDonalds near me
  5. Guest house near me
  6. Postnet near me
  7. Steers near me
  8. Spar near me
  9. Debonairs near me
  10. Spur near me

Top women

  1. Winnie Mandela
  2. Meghan Markle
  3. Sbahle Mpisane
  4. Aretha Franklin
  5. Khloe Kardashian
  6. Sophie Ndaba
  7. Cheryl Zondi
  8. Demi Lovato
  9. Lerato Sengadi
  10. Siam Lee

The Year In Search 2018 minisite can be found here.

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Smartphones dip in 2018

According to the International Data Corporation (IDC) Worldwide Quarterly Mobile Phone Tracker, worldwide smartphone shipments are expected to decline by 3% in 2018 before returning to low single-digit growth in 2019 and through 2022.

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While the on-going U.S.-China trade war has the industry on edge, IDC still believes that continued developments from emerging markets, mixed with potential around 5G and new product form factors, will bring the smartphone market back to positive growth.

Smartphone shipments are expected to drop to 1.42 billion units in 2018, down from 1.47 billion in 2017. However, IDC expects year-over-year shipment growth of 2.6% in 2019. Over the long-term, smartphone shipments are forecast to reach 1.57 billion units in 2022. From a geographic perspective, the China market, which represented 30% of total smartphone shipments in 2017, is finally showing signs of recovery. While the world’s largest market is still forecast to be down 8.8% in 2018 (worse than the 2017 downturn), IDC anticipates a flat 2019, then back to positive territory through 2022. The U.S. is also forecast to return to positive growth in 2019 (up 2.1% year over year) after experiencing a decline in 2018.

The slow revival of China was one of the reasons for low growth in Q3 2018 and this slowdown will persist into Q1 2019 as the market is expected to drop by 3% in Q4 2018. Furthermore, the recently lifted U.S. ban on ZTE had an impact on shipments in Q3 2018 and created a sizable gap that is yet to be filled heading into 2019.

“With many of the large global companies focusing on high-end product launches, hoping to draw in consumers looking to upgrade based on specifications and premium devices, we can expect head-to-head competition within this segment during the holiday quarter and into 2019 to be exceptionally high,” said Sangeetika Srivastava, senior research analyst with IDC’s Worldwide Mobile Device Trackers.

Though 2018 has fallen below expectations so far, the worldwide smartphone market is set to pick up on the shift toward larger screens and ultra-high-end devices. All the big players have further built out their portfolios with bigger screens and higher-end smartphones, including Apple’s new launch in September. In Q3 2018, the 6-inch to less than 7-inch screen size band became the most prominent band for the first time with more than four times year-over-year growth. IDC believes that larger-screen smartphones (5.5 inches and above) will lead the charge with volumes of 947.1 million in 2018, accounting for 66.7% of all smartphones, up from 623.3 million units and 42.5% share in 2017. By 2022, shipments of these larger-screen smartphones will move up to 1.38 billion units or 87.7% of overall shipment volume.

“What we consider a so-called normal size smartphone has shifted dramatically in a few short years and while we are stretching the limits with bezel-less devices, the next big switch to flexible screens will test our imaginations even further,” said Melissa Chau, associate research director with IDC’s Worldwide Mobile Device Trackers. “While this category of device is still nascent and won’t see major adoption in the year ahead, it’s exciting to see changes to the standard monoblock we are all so used to carrying.”

Platform Highlights

Android: Android’s smartphone share will remain stable at 85% throughout the forecast. Volumes are expected to grow at a five-year compound annual growth rate (CAGR) of 1.7% with shipments approaching 1.36 billion in 2022. Android is still the choice of the masses with no shift expected. Android average selling prices (ASPs) are estimated to grow by 9.6% in 2018 to US$258, up from US$235 in 2017. IDC expects this upward trajectory to continue through the forecast, but at a softened rate from 2019 and beyond. Not only are market players pushing upgraded specs and materials to offset decreasing replacement rates, but they are also serving the evolving consumer needs for better performance.

iOS: iOS smartphones are forecast to drop by 2.5% in 2018 to 210.4 million. The launch of expensive and bigger screen iOS smartphones in Q3 2018 helped Apple to raise its ASP, simultaneously making it somewhat difficult to increase shipments in the current market slump. IDC is forecasting iPhone shipments to grow at a five-year CAGR of 0.1%, reaching volumes of 217.3 million in 2022. Despite the challenges, there is no ambiguity that Apple will continue to lead the global premium market segment.

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