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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.

Featured

Win a Poster Heater with Gadget and Takealot.com

This winter Gadget and Takealot.com are giving away three Poster Heaters, which look like posters but become heaters when you plug them in.

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Three Gadget readers will each win a unit, valued at R550 each. To enter, follow @GadgetZA and @Takealot on Twitter and tell us on the @GadgetZA account how many Watts the heater consumes.

What’s the big deal about these heaters? Many of us are struggling to keep the balance between soaring electricity costs and the need to keep warm this winter.

However, the recently launched Poster Heater by EasyHeat and distributed in South Africa by Takealot.com is not only one of the most cost effective electric heaters currently on the market, it is also easy to setup and use.

As the name indicates, it is a poster similar to one you would hang on a wall. But, plug it in and it turns into a 300 Watt heater. The Poster Heater isn’t designed to heat hallways or large rooms, but rather smaller ones like a bedroom or a baby’s nursery or a dressing room.

It uses radiant heating, which means that it heats up in a couple of minutes and the heat is directed at the objects or people around it, quickly taking the chill out of the air and providing a comfortable ambient temperature.

The other advantage of radiant heating is that it doesn’t dry out the air like infrared or gas heaters. Users also don’t have to worry about their children or pets getting too close to it because, even though it gets hot, it can be touched.

To enter the competition follow the steps below:

Competition entry details:

1. Follow @GadgetZA and @Takealot on Twitter. (We will ONLY be accepting entires via Twitter, so please don’t enter through the comments section of this article.)

2. Tell us on Twitter, via @GadgetZA, mentioning @Takealot in your posting, how many Watts the Poster Heater consumes.

cleardot.gif3. The competition closes on 31 July 2018.

4. Winners will be notified via Twitter on 1 August and Takealot.com will be in touch to organise delivery.

5. The competition is only open to South African residents.

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Arts and Entertainment

Deezer to host Hotstix’s Mandela tribute playlist

Deezer is celebrating Nelson Mandela on the centenary of his birthday by hosting a tribute playlist created by music legend Sipho “Hotstix” Mabuse.  

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Mabuse, a legendary figure in African music, first rose to prominence in the 1970s with his band Harari and later developed a name for himself as a solo artist. One of his best known songs was the global hit BurnOut in the 1980s.

The playlist takes the listener on a captivating musical journey through the life of Nelson Mandela.  It was compiled by Mabuse, who consulted with Mandela’s family and friends to ensure that the music would be relevant and accurate. The playlist also features commentary by Mabuse, which was recorded in his Soweto home.  

“I have tried to tell the story of the music that Madiba loved,” says Mabuse. “The Playlist excludes the time in prison obviously, as Madiba would not have had exposure to music in that time.  We have focused on the music we know he loved before and after that period. This recording was really an emotional journey for me, but an incredible opportunity to document these memories.”

The playlist features the music the young Mandela loved, such as The Manhattan Brothers, Solomon Linda, Brenda Fassie and Miriam Makeba.  It includes struggle songs from Chicco, Johnny Clegg, Hugh Masekela and Yvonne Chaka Chaka.  The playlist also includes Mandela by Zahara, one of the younger artists who caught Madiba’s ear.

Mabuse also offers stories of his own songs, such as Shikisha, a song greatly beloved by the former President.

“I was delighted to share my thoughts and hope the listeners enjoyed the musical journey,” says Mabuse. “Madiba did enjoy music immensely and we all have a purpose wherever we are in the world to celebrate culture and to learn from different cultures and music forms and styles.”

This playlist was inspired by the Nelson Mandela 100 campaign, calling on corporates and individuals to act as sources of inspiration and engage in conversation and action.

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