Absa has introduced a mobile application that will enable immediate remote account opening.
The app is for Android-based smartphones and tablet devices, allowing sales consultants to open bank accounts and issue debit cards to new customers in less than 10 minutes.
“The on-device application scans one's ID book to identify and verify the customer's details, captures all the relevant information and enables the imaging of supporting documents,” says Absa.
The app interfaces with Absa's systems to conduct the relevant screening processes and complete the opening of the account.
”This remote account opening system replaces previous, cumbersome processes involving a bulky set of laptops, bar code scanners, thermal printers and card writers - as well as more than one interaction with the customer.”
It scales easily to cater for demand, since new devices can be acquired relatively easily and placed “in the field”, adds the bank.
The app also allows users to access and control key functionality on the device like recording the GPS coordinates, allowing the bank to build customer and sales data, and access the camera and data encryption functionalities.
Accounts become active once an initial deposit has been made at either an ATM or point-of-sale device.
Branchless strategy
“This innovative use of mobile technology allows us to extend our reach in many of SA's most poorly serviced areas from a banking perspective, and enable greater numbers of our population to access the formal economy,” says Absa's retail bank chief executive Gavin Opperman.
He adds that research into the field of financial inclusion shows that an increase in the number of people interacting with the formal economy stimulates economic growth at a national level, and positively contributes to poverty reduction.
The bank says the initial focus is not only on rural areas - but also includes testing the process in high foot traffic areas like commuter points, shopping centres, at company premises and other workplace environments.
The remote account opening facility is a crucial ingredient in Absa's branchless banking strategy, says Opperman.
Not unique
FNB has also targeted digital banking with an application for tablets and smartphones.
“The Banking App has an extensive roadmap, but upon launch will allow users to have immediate and secure access to their bank accounts; view account lists; view a detailed transactional history; perform transactional services like transfers between accounts, as well as pay beneficiaries,” says the bank.
The app also allows customers to find FNB branches and ATMs using location-based services, as well as access to an immediate FNB branch list directory, making free calls to any FNB contact centres and cheap outbound calls to other numbers.
It launches with Android, Apple and BlackBerry devices with additional platforms to follow soon.
Head of products and markets at FNB Connect Farren Roper adds that the app can also be launched on devices like the iPod touch. “We are covering three out of the top four operating systems in the world, with Nokia Symbian to follow shortly."
"The solution will give our customers a convenient, anytime, anywhere digital banking solution, rich in user experience. We are glad to say that this app is a home-grown creation and has been developed in-house by FNB Connect, the bank's internal Internet service provider," says Michael Jordaan, FNB CEO.
App improvement
CCO of Virtual Mobile Technologies Arno du Toit says that as good a job as FNB has done with its apps, there are some things it might have done better, and some future issues it could have avoided.
He explains that in one instance it has launched three disparate apps to cater for three operating systems, with a fourth “coming soon”. These distinct applications will have to be maintained and developed individually, which is an intensive and expensive process.
However, he says the step is a positive one. “The other South African banks would do well to sit up and take note, as it is clear that deploying banking applications is no longer a matter 'if' but 'when'.”
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