Cellphone banking soars
FNB says that around 2500 customers a day are adopting various interactive cellphone banking offerings across its southern African subsidiaries.
A year ago FNB`s monthly cellphone banking transactions amounted 1.2m, currently they stand at more than 3,5m per month. The value of the transactions is now R500m per month. More than 600 000 customers are now using cellphone banking.
Ironically, the current economic climate in SA is probably one of the main contributors to the growth in cellphone banking, especially in the last few months. Apart from cellphone banking being free from bank transaction charges at FNB, it is saving millions of rands to users by allowing them to bank from wherever they are.
Also, unlike any other banking channel, cellphone banking’s peak usage is at night, demonstrating the ’everywhere, anywhere’ nature of the service.
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