Absa today introduced its new personalised banking solution for cheque accounts. The Features Store enables customers to "build their own transactional banking accounts according to their needs and budgets, while enjoying a wealth of lifestyle features".
New account applications can be made online, using the new platform. The bank describes Features Store as a one-stop shop where users can get access to banking solutions, while tailor-making a banking experience that fits their lifestyle and financial circumstances.
Speaking at a launch event in Johannesburg today, Arrie Rautenbach, CEO of Barclays Africa retail banking, said the Features Store is the next step in Absa's commitment to digitisation. "It represents the bank's direct response to the needs of its existing and prospective customers who use their digital channel of choice ? whether mobile or online ? for their banking.
"Our customers have also expressed a desire for feature-rich banking experiences that add convenience, choice and value to their daily lives." He added the bank wants to regain a leading position in the retail market, which means "responding appropriately to a customer base that is increasingly demanding highly customised banking that extends far beyond mere day-to-day transactions".
How it works
Absa says cheque account customers using the Features Store can:
* Browse and add a variety of products, services, features, and benefits to their new or existing accounts. The range of offerings extends from cellphone deals, to rewards programmes, limited health cover as well as travel.
* Once users have selected their preferred Absa cheque account, they can view the full details and pricing of any product or additional features that interest them and add these to a pay-as-you-transact shopping cart, which shows a running tally of once-off and monthly cost. "The entire experience is rounded off by a fast and convenient online application process. Special discounts have been negotiated and these savings can be viewed in the customer's shopping basket," the bank said in a statement.
* Purchases made in the store can be tracked and customers have access to online and call centre support and service.
* Absa says it has simplified the process to four steps: Browse, select, add features, and check-out.
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