Nedbank has become the second of SA's big four banks to embrace mobile technology by way of introducing a banking application.
Launched in beta yesterday, Nedbank's app - the Nedbank App Suite - will be put to the test by the bank's staff members for a period before being rolled out to the public, “in the near future”.
Nedbank CEO Mike Brown says the dispatch of App Suite follows two years of development. “[Nedbank's app] marks the next chapter in the bank's digital evolution.”
Brown says Nedbank's app will be available on smartphones, as well as a variety of feature phones. “It is our intention to provide an easy to use banking app that is safe, convenient and available to as many South Africans as possible.”
Upon commercial launch, says Nedbank, the App Suite will include a “first to market” online share trading offering, corporate batch authorisations and business banking password reset capability. “Other useful NedApps include mobile banking, balance enquiry, payments, transfers, branch locators, forex calculators, application lead forms and more.”
First National Bank (FNB) is the pioneer in SA's banking app space, having introduced the FNB Banking App in July last year. The app has seen over R1.5 billion in transactions since.
While SA's biggest retail bank by customer numbers, Absa, was first to launch online banking in 1996, it has yet to bring a mobile app to market. The bank says, however, that it is exploring new technologies to enhance the customer experience and last year announced that it was working on a banking app.
Herman Singh, CEO of Standard Bank's standalone division Beyond Payments, says there is a definite need to deliver new banking apps, but the bank has not to date announced any plans to release a banking app.
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