Who's got the best mobile banking app in South Africa?

Read time 2min 50sec

Mobile banking applications have seen phenomenal growth and acceptance by customers in South Africa. So which bank has the best one? I set out to find out by comparing the features of the various app.

I grouped the features into sections and gave each one a score. 1 point for every feature they have, 0 if they don't have that feature. I then totalled it up to get an overall score.

Banking ServicesNedbankFNBRMBStd BankABSA
View account balances and transaction history11111
Once off payments111-1
Payments to your recipients11111
Future-dated transaction1----
Recurring transactions1----
Add beneficiaries111-1
Update, view and delete beneficiary details111-1
Show account info in a graph---11
Net balance of all accounts---1-
Stop payment-11--
Multiple transactions1----
SMS notification per login1---1
Multi-user access----1
Add beneficiary's picture----1
Add favorite transactions----1
Section Score1177511

Purchase Additional ServicesNedbankFNBRMBStd BankABSA
Buy prepaid airtime (Vodacom, MTN, Cell C, 8.ta, Virgin Mobile)11111
Buy prepaid data and SMS11---
Buy prepaid electricity-111-
Buy Lotto-----
Section Score23221

WalletsNedbankFNBRMBStd BankABSA
Proximity payments-11--
Money send:
Nedbank - mPesa
Standard bank - wallet
FNB - wallet
Allows other banks' customers access-11--
Section Score13311

Lead formsNedbankFNBRMBStd BankABSA
Leads to open account1111-
Section Score11110

LocatorNedbankFNBRMBStd BankABSA
Locate your nearest branch or ATM11111
Get directions to branch and ATM locations from where you are1--11
Section Score21122

Forex NedbankFNBRMBStd BankABSA
Forex rates table11111
Section Score11111

CalculatorsNedbankFNBRMBStd BankABSA
Home loan1--11
Vehicle finance 1--11
Prersonal loan1--1-
Forex calc1----
Goal save----1
Section ScoreY0034

Share tradingNedbankFNBRMBStd BankABSA
Viewing share portfolio; Placing trades; Cancelling trades; Viewing order book; Change password1----
Section Score10000

ContactsNedbankFNBRMBStd BankABSA
Branch contact numbers 111--
Make FREE calls to call centres-11--
List of important contact details11111
Section Score23311

Corporate BankingNedbankFNBRMBStd BankABSA
View balances / statements; Authorise payments; Authorise e-bill payments; Authorise transfers; Authorise collections; Authorise beneficiaries; Authorise users; Change password1----
Section Score10000

Other ServicesNedbankFNBRMBStd BankABSA
Secure message to bank-11--
View videos in app1---1
Banners inside the app----1
Change to different language options in the app----1
Section Score11103

PlatformsNedbankFNBRMBStd BankABSA
BlackBerry 101111-
Windows Phone---1-
Feature Phone1----
Section Score55Y52

Disclaimer: This is not an indication of which app performs best. This chart is based on my research and experience and of features and is just an indication.

When I total up all the section scores, Nedbank comes out tops with 32, followed by ABSA with 26, followed by FNB with 25, followed by RMB with 23, followed by Standard Bank with 21.


The apps are available here:

Nedbank - http://www.nedbank.co.za/website/content/nedbank_app/index_app.asp
FNB - https://www.fnb.co.za/fnbapp/
RMB - https://www.rmbprivatebank.com/rmbpbapp/
Standard Bank - http://www.standardbank.co.za/portal/site/standardbank
ABSA - http://absa.co.za/Absacoza/Offers/Featured-Solutions/App-from-Absa

Liron Segev

Award-winning blogger Liron Segev argues that end-users make decisions by what they read, what they see and what they hear. Mostly, people turn to the Google search box to gain insights about the product or service they are interested in. However, with the amount of information that is bombarding end-users on a regular basis, it is difficult to separate what is credible from what is just marketing, Segev believes. As a result, end-users turn to an independent source that provides the information they seek. This is the role that Segev aims to fill with his blog, TheTechieGuy.com. Segev has distinguished himself and his blog by achieving the highest accolades in the field, winning the South African Best Science and Technology Blog in 2012 and again in 2013; and then going on to win the Best Advice Blog on the African continent in 2014. Since 2005, when the first blogger received press credentials to the White House, mainstream media have teamed up with influential bloggers to provide their audience with additional coverage and commentary. As a technical analyst and commentator, Segev provides such commentary, which ranges from new products and devices to news items gleaned from his media invitations to events around the world. Last updated: 14 January 2015

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