Business gets its own eBucks

By Warwick Ashford, ITWeb London correspondent

Johannesburg, 09 Jun 2005

First National Bank`s commercial banking division has launched a business rewards programme, in partnership with eBucks, specifically aimed at small and medium enterprises (SMEs).

[VIDEO]"The eBucks for Business is similar to the consumer banking eBucks programme, but includes specially tailored online services for business from 15 online partners, such as a credit rating check and more business-related products and services from the travel desk and the eBucks Shop," says Lezanne Human, CEO of eBucks.

"Although online shopping is growing phenomenally, there are still those customers who prefer to spend their eBucks in store using their eBucks cards or access goods and services using our contact centres," says Human.

Both eBucks programmes largely share the same financial and retail partners that provide opportunities to earn and spend eBucks, but Human says eBucks for Business will increasingly be differentiated as further partners are added.

"In the future, we plan to give business access to services such as secretarial and professional training as well as mentoring and support for SMEs," explains Human.

"Although FNB has a 22% share of the commercial banking market, we realised customer loyalty could not be taken for granted and came up with the idea of developing eBucks for Business to show our business clients just how highly we value their loyalty," says Iris Dempsey, CEO of FNB Commercial.

Dempsey says eBucks for Business grew out of FNB`s awareness that building customer relationships is key to responding to the needs of the rapidly growing and evolving SME commercial banking market.

"Having established our enterprise solutions division a year ago to foster relationships with business customers through mentorship programmes and new ways of mitigating risk for new companies to get them through the critical first three years, the next logical step was to introduce a rewards programme in partnership with First Rand`s existing eBucks programme," concludes Dempsey.