IT in Banking

FNB adds more functionality to nav» platform

Read time 3min 30sec

First National Bank (FNB) has introduced more functionality to its nav» platform, unveiling smart budget, home services and wellness within the main banking app.

FNB also added new functions within its nav» home and car applets.

The nav» ecosystem of tools was introduced in 2016, with the bank describing it as the 'financial GPS' that provides customers with smart ways to make the most of their money.

At the time, FNB CEO Jacques Celliers indicated the bank will be offering a number of solutions over the next few years by combining finance and technology.

These latest features were unveiled during a virtual media briefing session this morning, with FNB saying the new and improved nav» platform is to help South Africans succeed in life and business.

Through nav» smart budget, customers can now manage their money better through “dynamic” budgeting, says FNB.

According to the bank, the tool uses its data capability to create a level of accountability, as well as real-time coaching. As a result, FNB says customers can set a number of different budget limits, ranging from fixed alerts to smart alerts and get timely notifications.

FNB describes nav» home services as a digital marketplace for FNB-banked SMEs, enabling them to offer home services such as electrical, building, plumbing and alternative energy to over three million users of the FNB app. In addition, individual customers can select from over 1 500 SMEs that are already part of the marketplace, and once the job has been completed, payment can be done on the app.

Nav» wellness is a health and mindfulness smart solution, to help customers understand their personalised wellness scores, offering suggested goals, and tips to coach them on their journey.

Celliers explains: “As we navigate these challenging times, we continue to re-imagine what is possible by leveraging the scale of our platform to help both individual and business customers. The launch of our latest smart tools, which are deeply embedded in our understanding of customer challenges, is testament to this.

“More importantly, small businesses which are the backbone of our economy have also taken a lot of strain this year due to the COVID-19 pandemic, and we believe the digitised marketplace solution will help them boost their income over time and become a key revenue line in their day to day business.”

Ghana Msibi, WesBank Motor CEO, adds: “Through the nav» car smart solution integrated into WesBank, we are already providing real help to half a million car users who have seamlessly loaded their cars onto the FNB app.

“We have now taken this a step further by looking holistically at the journey of owning and maintaining a vehicle, and identified value-adding, contextual and simplified solutions for our customers. As we continue to build our unique ecosystem, our customers can rest assured we are working hard in making sure we grow these capabilities over time.”

For nav» home, the applet will now also connect FNB businesses to FNB customers, allowing customers to list to sell their property, either with an FNB Business-banked real estate agent or privately. This, says the bank, will provide customers access to thousands of FNB pre-approved buyers as well as access to special deals on new property developments.

In addition to online car licence renewals, nav» car will offer FNB-banked customers access to a list of offers, brands and vehicles, as well as streamlined pre-approved finance from WesBank via the banking app.

“Our smart tools have already had a meaningful impact on both our individual customers and business clients. As an integrated financial services provider, we believe there is a great opportunity in creating smart connections among customers by using our dynamic data capabilities and secure platform,” concludes Celliers.

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