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FNB takes shot at Bank Zero

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With expectation building for the launch of Bank Zero by legendary banker Michael Jordaan, his previous employer seems to have taken a strategic shot with the launch of its latest service. 

FNB has launched Easy Zero, a fully-fledged digital bank account with a card to allow customers to transact easily without paying a monthly fee. The mobile account was formerly known as eWallet eXtra.

The revamped digital account will now have a branded FNB bank card, providing customers with free card swipes, cost-effective transactional and ATM cash withdrawal fees. The card now gives customers more options to access their money. In addition, customers will also get free prepaid purchases and free cash deposits of up to R1,500 per month.

FNB Easy CEO Philani Potwana said: “We are aware of the day-to-day financial pressure that our consumers face, and Easy Zero is a direct response to their needs. The account is in line with our strategy to broaden financial inclusion to the unbanked and underbanked. We believe that the ability to operate the account digitally will allow customers to operate it at virtually no cost or minimal cost depending on transactional behaviour.

“We see Easy Zero being a digital bank account of choice for customers who do not have regular income or have limited banking needs. This is partly the reason debit orders are not allowed on the digital account as customers in this segment have limited debit orders. However, for those customers that have a need for debit orders they can still use our competitively priced Easy PAYU and Easy Smart Bundle accounts.”

Through Easy Zero, customers will be able to send money to anyone with a valid SA cellphone number, and skip the queues to pay people and accounts. Easy Zero account holders can also view their bank account balance and transaction history on their mobile phone at any time, from anywhere.

“The success of our digital account, with over 140,000 active customers, shows that anyone who owns a mobile phone can be banked in minutes using a mobile device,” says Potwana. “This showcases our ability to adapt to the ever-changing consumer landscape to cater for the needs of customers through platform innovation. ”

FNB is also offering Easy Zero digital account holders a toll-free number (0800 079 599) where easy customers can call for help on any of their banking needs. To open an Easy Zero account, dial *120*277# on a mobile phone and follow the prompts.

Cars

Car buyers to start abandoning fuel-power by 2025

Car buyers in the United States and Europe expect electric vehicles to become a viable alternative to fuel-powered cars in the next five years.

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A new report outlining consumer expectations of battery electric vehicles (BEVs) and their viability as replacements for traditional fuel-powered cars or internal combustion engine (ICE) vehicles suggests a massive shift beginning in 2025.

The conclusion emerges from a report by human behaviour and analytics firm Escalent, entitled The Future of BEV: How to Capture the Hearts and Minds of Consumers. It reveals the intent of many consumers in the United States and Europe to abandon ICE vehicles altogether, citing the improved infrastructure and range of BEVs.

The Future of BEV gives auto and mobility manufacturers a strategic view of the benefits of their products in the eyes of consumers and highlights the areas of opportunity for automakers to push the innovation boundaries of BEVs to spur broad adoption of the technology.

“While most buyers don’t plan to choose BEVs over gasoline-powered cars within the next five years, consumers have told us there is a clear intention to take BEVs seriously in the five years that follow,” says Mark Carpenter, joint managing director of Escalent’s UK office. “However, manufacturers will need to tap into the emotional value of BEVs rather than just the rational and functional aspects to seize on that intent and inspire broader consumer adoption.”

The study demonstrates a significant shift in consumers’ expectations that BEVs will become viable alternatives to—and competitors with—ICE vehicles over the coming decade. Though 70% of Americans plan to buy a gasoline-powered car within the next year, just 37% expect to make that same purchase in five to ten years. Similarly, while 50% of European consumers favour buying vehicles powered by gasoline and diesel in the near-term, that figure drops to just 23% in five to ten years.

At the same time, consumers on both sides of the Atlantic see BEV adoption rising to 36% in Europe and 16% in the US, with respondents also indicating intent to purchase hybrids and hydrogen-powered cars.

Infrastructure clearly continues to be one of the biggest barriers to adoption. While some work is being done in Europe as well as in the US, the data show there is a significant need for some players to take ownership if manufacturers want to move the needle on BEV adoption.

US and European consumers have stark differences in opinion as to which entities they believe are primarily responsible for providing BEV charging stations. American consumers consider carmakers (45%) the primary party responsible, followed by fuel companies, local government/transport authorities, and the national government in fourth. On the other hand, European consumers view the national government (29%) as the primary party responsible for providing BEV infrastructure, followed by carmakers, local government/transport authorities and fuel companies.

For a full copy of the report, visit https://landing.escalent.co/download-the-future-of-bev.

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New cell phone to help with dementia and memory loss

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A new cell phone that takes simplicity to the extreme is designed to address the unique needs of people with dementia and other forms of memory loss. The RAZ Memory Cell Phone, developed by RAZ Mobility, a provider of mobile assistive technology, was launched this week. The handset is also well-suited for individuals with intellectual disabilities.

According to the Alzheimer’s Association, approximately 5.8 million Americans have Alzheimer’s dementia, with one in ten people over the age of 65 diagnosed with the disease. The number of people with dementia is expected to increase rapidly as the proportion of the population 65 and older increases. The American Psychiatric Association reports that approximately one percent of the population has an intellectual disability.

The RAZ Memory Cell Phone consists of one primary screen, and one screen only. It is always on and includes pictures and names of up to six contacts and a button to call 911. That’s it! There are no applications or settings to cause confusion. No notifications or operating system updates. No distractions. Users can simply tap and hold the picture of the person they wish to call.

Caregivers manage the RAZ Memory Cell Phone through a simple online portal. The portal is used to create and edit the contacts, track the location of the phone/user and select certain options, such as the option to restrict incoming calls to people in the user’s contacts, thereby avoiding unwanted calls such as predatory robocalls.

The RAZ Memory Cell Phone can now be ordered at https://www.razmobility.com/solutions/memory-cellphone/.

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