FNB puts data control back into customers’ hands

Simnikiwe Mzekandaba
By Simnikiwe Mzekandaba, IT in government editor
Johannesburg, 20 Apr 2021

First National Bank (FNB) has today brought to market data management tools it says will improve how customers manage and verify their information with the bank.

The bank, often noted for its digital innovation, revealed during a virtual media briefing this morning that customers can now interact with MyProfile and Business Profile, which are available through the FNB app and online banking.

Using MyProfile or Business Profile, FNB clients can check and update their personal and contact information, update their address details using the location finder technology on their mobile device, and verify identity details with the Department of Home Affairs.

The innovations, according to FNB CEO Jacques Celliers, enable customers to edit, maintain, upload and sort themselves out in terms of their data. “We’ve worked hard on the new set of enablement…to build new capabilities.

“We live in a market where fintech comes at customers with lots of payments innovations and different ways of doing credit. Over the last few years, we’ve spent most of our technology innovation and enablement in bringing together different ways that we can help customers look after their data with us and how we could manage their data.

“We’ve brought to market a massive amount of capability and enablement that is a differentiator in terms of how customers can experience their services with us.”

FNB iCustomer CEO Lynette Kloppers said now more than ever, it’s important to give everyone the comfort that the information they provide is being kept in a safe space for them.

“What we looked at is how from a customer perspective – irrespective of whether you bank with us in your individual capacity or as a business owner – we can enable something that gives you the ability to seamlessly update your information with us and do it once.”

Kloppers explained that in the past, clients of any of the banks would always have to make contact with a person at the bank if they wanted to update their personal information. “In the world that we are moving into now, it becomes very important that we give you the control and ability to be able to do that yourself.

“You don’t have to walk into a branch or queue if you just want to change something simple about your information.”

The MyProfile capability on the app and the Business Profile capability that lives on online banking give customers the ability to update their personal information, she said. “Mostly, when you have to update personal information, we sometimes need the supporting documents.

“We’ve also created a capability called MyVault, whereby as you change personal information and we require documentation to support that, you can upload that documentation on our digital interfaces.”

Customers need only update their information once for it to be available across the bank and all the different areas they have solutions with the bank, said Kloppers.

Celliers commented that the digital tools set a new standard for user-controlled data privacy and security by giving FNB individual and business customers control to ensure their personal and business data is always kept safe and up-to-date, at the click of a button.

“As the global shift to more digital ways of living has gained momentum on the back of COVID-19, data privacy and security has become a key priority for most people and businesses across the world. In our business, we have a reputation as a highly-trusted financial solutions partner to our retail and commercial customers, and we recognise our responsibility in partnering with our customers to protect their data.”

Raj Makanjee, FNB Retail CEO, adds: “This is a big step forward for us and our customers on this journey of shared responsibility for information protection and data privacy. Our trusted platform capabilities are scaling quickly to support customers on their money management journey and put them in full control of their invaluable data on our digital channels.”

Celliers concludes: “Today, more than ever before, consumers and business owners need assurance that their information is protected and secure, but also that it is correct. We believe there is no better way to provide our customers with that sense of security and confidence than by putting them in full and secure control of their personal and business information.”