First National Bank (FNB) has added two new functions within its nav»ecosystem, introducing nav» payroll and nav» youth.
This was announced yesterday as the big-four bank marked 10 years of nav», having accumulated six million customers.
A flagship within the FNB banking app, nav» was introduced in 2016, consisting of tools that help customers manage their finances, assets, wellbeing, as well as their impact on the planet.
Over the years, the bank has added several new functions within its nav» ecosystem, including money, car, home, Earth, care, and the recently-launchedgraduate. Each of the “buckets” are designed to provide customers with information, coaching, access to financing and other tools they need, according to the bank.
The new features launched yesterday target younger South Africans and small business owners.
According to FNB, nav» youth has been designed around the realities facing younger South Africans as they navigate financial independence, changing career paths, entrepreneurship and multiple income streams.
It will bring together a revamped learning hub covering credit, budgeting and growing a side hustle; life’s keys, a curated set of tools for life’s biggest firsts; and the career compass podcast.
Shifting to nav» payroll, the bank says the on-platform solution gives businesses a compliant and affordable way to pay employees. It offers five free payslips a month (R25 per payslip thereafter), automates SARS-aligned reporting, and issues professional payslips that serve as formal proof of income, helping employees access credit, housing and other essentials.
“The last decade has taught us that being better off means something different for everyone. For some people it’s having enough savings to navigate an unexpected setback. For others it’s buying a first home, starting a business or creating an additional income stream,” comments Clair Brenner, CEO of nav».
“The traditional financial journey is becoming less common. Customers are adapting to a world that’s changing faster than ever before. They’re building multiple income streams, exploring new opportunities and looking for greater financial certainty. We understand those realities and help create a stable foundation to enable their ambitions. That’s exactly why we’re launching nav» youth and nav» payroll to meet customers and small employers where they are.”
According to Jolandé Duvenage, CEO of value ecosystems and customer experience at FNB, customers no longer experience banking through individual products, but through connected life decisions.
“Whether customers are managing money, buying a home, building a business, improving household resilience or supporting a cause, they don’t see these as separate journeys. Our role is to connect these experiences in ways that remove friction and help customers make progress.”
That thinking is shaping solutions such as nav» Earth, which supports energy, solar and sustainability decisions, and nav» care, which channels millions of rands in donations to verified causes.
“As we enter the next decade, connected ecosystems will become critical. Our focus is on helping customers navigate change, unlock opportunity and build stronger futures,” Duvenage concludes.
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