Big four bank First National Bank (FNB) has made another move in the social media zone, bringing banking to Facebook.
FNB Cellphone Banking today announced its customers can do their banking on Facebook, in what it says is a first for South African banking. The functionality allows FNB customers who are registered for cellphone banking to access certain banking services on the world's biggest social media platform.
According to FNB, the bank averages around 15 000 conversations monthly, via social media, with existing and potential customers. Ravesh Ramlakan, CEO of FNB Cellphone Banking, says social media is undoubtedly the “next frontier” in banking. “To us, this is a channel that will provide our customers with more choice and convenience to do their banking.”
Ramlakan adds that, in order for FNB to stay ahead in the innovation race, the bank needs to “rapidly adapt to the constant changes in our environment”.
FNB says, in order to access the application, customers need to link their Facebook profiles to their cellphone banking profile. The FNB Banking on Facebook application allows users to check their balances, purchase prepaid products, and view Lotto and PowerBall results.
Ramlakan notes there are over 4.7 million active Facebook users in SA. “More than 150 000 of those are FNB Facebook fans, [so] it is easier for our customers to purchase a data bundle or airtime while using Facebook.”
He says the collaboration with Facebook presents an opportunity for the bank to “tap into a new and fresh market” and introduce product offerings to its audience in a “cool” way.
Earlier this year, FNB launched a solution that allows its customers to purchase vouchers using cellphone banking, which can be posted on Facebook. FNB customers registered for cellphone banking will now be able to send gifts to their Facebook friends, who can redeem the FNB voucher as prepaid airtime, or convert it to cash by using the bank's eWallet service.
Share